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Justice Dept. Vows to Go After Wall Street Banks, But Nothing So Far

wall-streetBy Allan Lengel
ticklethewire.com

WASHINGTON — Despite the tough talk by President Obama and his Attorney Gen. Eric Holder, the administration has yet to file charges against the big Wall Street banks that had their hands in bad and risky housing loans, the Washington Post reports.

“Nearly 1 1/2 years into Obama’s tenure, despite several cases against mortgage companies whose lending practices contributed to the crisis, the administration has not brought any charges against the big Wall Street banks that took those loans, converted them into toxic securities and pumped them into the world’s financial markets,” Post reporter Jerry Markon wrote. “Law enforcement sources say no such charges are imminent.”

The Post noted that the administration has talked tough and cited comments Eric Holder made in November about getting tough on Wall Street execs who contributed to the financial crisis.

“We will be relentless in our investigation of corporate and financial wrongdoing, and we will not hesitate to bring charges,” Holder said then.

Some think the administration has promised too much.

To read more click here.


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