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Loretta Lynch has given prosecutors license to gun for top executives for "financial crimes."
Lynch has issued a memo to prosecutors nationwide directing them to set their sights on Wall Street bank honchos. Forget corporate liability, forget settlements. The new Justice Department target is "individuals." And the new metric of prosecutorial success is jail time, not fines.
*snip*
Starting this month, prosecutors are instructed to leverage all their resources to compel corporations under investigation to ID "high-level executives" for criminal misconduct. If they don't name names, settlement deals will be taken off the table.
Lynch was supposed to be kinder and gentler than her predecessor Eric Holder. But the former top New York prosecutor wants CEOs cuffed and frog-marched out of the boardroom.
After the savings-and-loan scandals of the 1980s, 1,100 people were prosecuted, including top executives at many of the largest banks. But after the financial collapse of 2008, only one banker received a prison sentence.
Instead of focusing on individuals, the Justice Department had been targeting companies. In exchange for cooperation, the DOJ was collecting huge settlement payments from large institutions, but no one actually served any time.
But new Attorney General Loretta Lynch was appointed, in part, because she was tough on white-collar crime.
“As the US attorney for the eastern district of New York, she helped secure billions in settlements for people wronged by some of the world's biggest banks," said Jesse Eisinger, a senior reporter for ProPublica. "She's been dogged in her pursuit of public corruption.”
Now the Justice Department says it will begin targeting individual white-collar criminals instead of only corporations as a whole. A new memo from the DOJ says companies will not get credit for cooperating with government investigations unless they turn over wrongdoers within the company.
www.newsjs.com...://www.pri.org/stories/2015-09-12/us-prosecutors-vow-renew-their-focus-white-collar-crime
originally posted by: stosh64
I can find no other sources to verify this.
And the link you provided gave no sources.
I will believe this when I see it.
More bread and circuses.
originally posted by: Evil_Santa
originally posted by: stosh64
I can find no other sources to verify this.
And the link you provided gave no sources.
I will believe this when I see it.
More bread and circuses.
How long did you look? One google search for "Loretta Lynch" came up with a bunch of different news articles, and then a "explore in depth" link to the wall street execs brought up 3 pages of links ranging from the New York Times to NPR.
Like really, "I can find no other sources to verify this" did you even look at a computer before posting that?
news.google.com... Hr
originally posted by: AnteBellum
a reply to: StoutBroux
A tad bit too late if you ask me.
The market is on the verge right now and one slip everyone's going to fall.
Oh, yea I forgot, how could I be so stupid, they need scapegoats for what's about to happen so we have a target for all our future stone throwing.
originally posted by: StoutBroux
originally posted by: intrptr
Yah, dog and pony show. "We'll get them bastards".
Suuure.
Bernie Madoff stole billions, is he still in jail?
Wall Street is stealing trillions, no big deal.
Yes, he is still incarcerated. Lets give Lynch a chance.
originally posted by: StoutBroux
originally posted by: Evil_Santa
originally posted by: stosh64
I can find no other sources to verify this.
And the link you provided gave no sources.
I will believe this when I see it.
More bread and circuses.
How long did you look? One google search for "Loretta Lynch" came up with a bunch of different news articles, and then a "explore in depth" link to the wall street execs brought up 3 pages of links ranging from the New York Times to NPR.
Like really, "I can find no other sources to verify this" did you even look at a computer before posting that?
news.google.com... Hr
Yes, and I skimmed the articles for substance. Don't insult me because I am fast.
originally posted by: Evil_Santa
originally posted by: StoutBroux
originally posted by: Evil_Santa
originally posted by: stosh64
I can find no other sources to verify this.
And the link you provided gave no sources.
I will believe this when I see it.
More bread and circuses.
How long did you look? One google search for "Loretta Lynch" came up with a bunch of different news articles, and then a "explore in depth" link to the wall street execs brought up 3 pages of links ranging from the New York Times to NPR.
Like really, "I can find no other sources to verify this" did you even look at a computer before posting that?
news.google.com... Hr
Yes, and I skimmed the articles for substance. Don't insult me because I am fast.
DOJ Press Release on the changes: www.justice.gov...
And the new policy, dated Sept. 9, 2015: www.justice.gov...
I insulted the other poster, who said something about not having any other sources, not you.
originally posted by: Boadicea
I sooooo want to think this is a good thing... that Lynch is doing this for all the right reasons... but I'm not going to hold my breath. Talk is cheap. We've been told all the right things only to watch them do exactly the opposite too many times. I'm more inclined to think that this is a veiled threat to keep banksters in line. For a long time, banksters have thought they had the politicians in their pocket... maybe this is where they find out that really the politicians have the banksters in their pocket.