Modus operandi of the left.
When a republican is President, get rid of the AG so they can commit crimes with no oversight.
When a democrat is President, the AG circles the wagons so no one gets prosecuted.
Republican AG’s are brilliant jurists. Democrat AG’s are incompetent ideological boobs.
US ‘robs’ $13B from venerable bank / By Mark DeCambre, Oct 19, 2013
JPMorgan Chase has tentatively agreed to pay (Holder's) Dept of Justice a record $13 billion settlement to resolve several civil probes — a costly deal that still doesn’t protect the bank against additional criminal prosecutions.
“This is a basic and fundamental attack on capitalism,” declared Dick Bove, an influential bank analyst at Rafferty Capital. “It is possible that the government is taking away the property of the JPMorgan shareholders without the shareholders having committed any crime or having any say in the expropriation of these funds.” The deal also includes an undisclosed sum to settle a civil suit brought by NY state AG.
Under the settlement, JPMorgan must continue to cooperate with federal investigators probing the banking giant’s issuance of mortgage-backed securities from 2005 to 2007, according to sources.
Still to be ironed out are how to resolve that criminal investigation, along with the wording of any admissions of culpability the feds might require.
The general terms of the settlement deal were forged Friday in a phone conversation between Attorney General Eric Holder and JPMorgan CEO Jamie Dimon, The WSJ reported.
Analysts called the settlement a raw deal given that, by JPMorgan’s own estimate, some 80 percent of its mortgage-backed securities had been acquired at the request of the Obama-led government, when it bought Bear Stearns and Washington Mutual in 2008. “Ultimately, the earnings power of banks is being force-regulated out the (SEC), by the Department of Justice,” Kass added.
The settlement sum includes $4 billion that JPMorgan agreed this month to pay the Federal Housing Finance Agency to resolve allegations that the bank misled mortgage-finance companies Fannie Mae and Freddie Mac about the quality of loans it sold them prior to the 2008 financial crisis, the Journal reported.
SOURCE http://nypost.com/2013/10/19/jpmorgan-in-tentative-13b-deal-with-us-justice-dept/
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Witness the twisted deranged progressive mind at work. As a community organizer, Obama sued banks to give out mtges to the underemployed----food stamps and SSI were considered "income." Now, as president, he's suing the same banks for "predator lending"---for burdening the ne'er do well with mtges he facilitated----that the nabe neer do wells can't possibly pay off.
Sounds like they know what they want and know how to get it.
The fact that they get away with it doesn’t make the Pubbies “the Stupid Party” as we often read, even here, it means there is a constant war without real bloodshed.
This won’t be the case forever — unless everyone winds up perfectly content to live as serfs, which is the normal existence throughout the Earth, and throughout human history.
It’s what “consensus building” is all about.
Of course, this doesn’t mean there will be economic equality — far from it, there *has* to be a power elite which lives in gated communities and rules with an iron hand, y’know, in order to prevent counter-revolutionary activity.