Posted on 10/27/2015 9:17:53 AM PDT by Titus-Maximus
Only weeks after the White House made headlines with a directive urging prosecutors to get tougher on corporate crime, the Obama administration has moved to protect a convicted financial firm from punishment. The bank, Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama’s political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton’s 2016 campaign.
In 2014, Credit Suisse pleaded guilty to criminal charges for operating “an illegal cross-border banking business that knowingly and willfully aided and assisted thousands of U.S. clients in opening and maintaining undeclared accounts,” as the Department of Labor described it. That could have subjected the bank to Labor Department sanctions stripping it of a classification it needs to manage pension money. But the department this month issued a five-year exemption allowing Credit Suisse affiliates to retain that classification and continue managing pension assets.
The waiver is well-timed for the bank: It comes just as Credit Suisse officials say they are looking to raise billions of dollars in new capital -- including from institutional investors. That would be on top of the $15.6 billion worth of assets the firm managed for U.S. institutional clients at the end of 2014, according to Pensions & Investments.
Credit Suisse employees have made more than than $380,000 worth of campaign contributions to Obama, according to data from the Center for Responsive Politics. The bank originally hired the Podesta Group in 2009 and instructed the firm to lobby the Labor Department on “pension policy” in the first quarter of 2015, according to federal records. The firm is run by Tony Podesta, whose brother, John, has served in both the Bill Clinton and Obama White Houses. Federal records show that the Podesta Group lobbied the
(Excerpt) Read more at ibtimes.com ...
'I try to be cynical but I just can't keep up.'
“...Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama’s political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton’s 2016 campaign...”
Says it all. In your face corporate America...capitalist America. So America, are you going to put ANOTHER Marxist regime in the White House??? Look at what has happened when you did it TWICE!!!
Conflict of interest much???
RICO on a grand scale, already set into the numbers like paying bribes or graft in other countries to get things done...
The difference I maintain is this is not a one off, it is how things get done there and like a gang once you are in there are only so many exits...
The CEO plays GOLF with Muslim Obama.
And Holder went back to work at a his old firm that represents HSBC. It’s all one big cluster-f*.
Can’t convict the masters.
Obama Administration Waives Penalty Against Convicted Bank Credit Suisse (received pmts)
Another bought and paid for politician. Lets face it we do have the best leaders money can buy don’t we. Money talks and it isn’t the citizens money that counts. Our dollars don’t even register with these morons.
I’m not sure....is that crickets I’m hearing, or Elizabeth Warren?
ANY and Every State should immediately REVOKE their Corporate Charter for this FELONY CONVICTION, Put them OUT of Business overnight.
Credit Suisse was one of James Comey’s cases.
Only weeks after the White House made headlines with a directive urging prosecutors to get tougher on corporate crime, the Obama administration has moved to protect a convicted financial firm from punishment. The bank, Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama's political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton's 2016 campaign.
It’s highly doubtful they aren’t “feeling the Bern” in Bern. lmao
Investments.
Credit Suisse employees have made more than than $380,000 worth of campaign contributions to Obama, according to data from the Center for Responsive Politics. The bank originally hired the Podesta Group in 2009 and instructed the firm to lobby the Labor Department on “pension policy” in the first quarter of 2015, according to federal records. The firm is run by Tony Podesta, whose brother, John, has served in both the Bill Clinton and Obama White Houses. Federal records show that the Podesta Group lobbied the
Thnks.
Preet Bharara / HSBC bump
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