Introducing the real Loretta Lynch….
From the article:
“Drawing on her past experience of standing up for white collar crooks, Lynch has spent the last four years treating big banks with kid gloves. Under Lynch’s oversight, the U.S. government allowed HSBC to pay a fine that amounted to five weeks of profit for the bank after they admitted to laundering $800 million for Mexican drug cartels. Lynch was also responsible for Citibank paying a $7 billion settlement– $3.8 billion of which was later billed to U.S. taxpayers – rather than going to jail over misleading millions of investors about mortgage-backed securities that were doomed to fail.
There’s really no question about whether or not Lynch will survive her senate confirmation hearing. Senator Dick Durbin once referred to his chamber as overly subservient to the big banks, saying, “They own the place.” Bankers everywhere can breathe a sigh of relief knowing that the president’s pick for the nation’s top lawyer won’t try to put any of them in jail. The senators they sponsored in the last election cycle will likely confirm her with haste.”
- The Republican Senate Will Love Loretta Lynch (Reader Supported News, Nov 9, 2014):
After the news broke of Eric Holder’s departure from the DOJ, I called on President Obama to nominate Mississippi Attorney General Jim Hood, based on his exemplary record of defending consumers and citizens from predatory banks, big oil, insurance companies, and the pharmaceutical industry. My more cynical readers commented that Obama was too much of a corporatist to nominate Hood, and that whoever Holder’s successor would be, they would be completely subservient to the banks. And after the news of Lynch’s nomination and looking into her past, I can say with confidence that those readers were right. Continue reading »