Grassley Asks DOJ Again if They've Taken Action Against Wall Street

Updated 1:31 p.m.

Sen. Chuck Grassley (R-Iowa) is pushing the Department of Justice for details on what it has done to pursue criminal charges against the major Wall Street banks and executives who he says are responsible for the nation’s financial crisis.

In a letter to Attorney General Eric Holder Jr. issued today, Grassley asked for a list of cases that detail which convictions were obtained against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks.

The letter comes two days after Grassley criticized the DOJ response to the financial crisis during a Senate Judiciary Committee hearing. And it comes in direct response to reaction from the DOJ posted on the Blog of Legal Times, according to a Grassley spokeswoman.

At a Capitol Hill hearing Wednesday on foreclosure abuse and lending discrimination practices, Grassley said the DOJ has done a “terrible job” of prosecuting financial crimes. He said: “The Justice Department has brought no criminal cases against any of the major Wall Street banks or executives who are responsible for the financial crisis.”

In response to a Legal Times request, DOJ issued a written statement on the criticism. “The Department of Justice, through our U.S. Attorneys’ Offices and litigating divisions, has brought thousands of mortgage fraud cases over the past three years, and secured numerous convictions against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks for financial crimes," DOJ spokeswoman Laura Sweeney said.

Grassley requested the list by the end of the month.

A DOJ spokesman said the agency is reviewing the letter.

Comments

[D]

The Senator has good reason to move ahead with this complaint. The very idea the nation has been financially sodomized for nearly 100 years by a criminal banking syndicate, pretending to be "OFFICIAL" is beyond belief.

Please forward this following link to the Senator and the entire Congress so that may all view the proper charges awaiting those who have betrayed this nation.

http://www.zerohedge.com/print/365866

[UnCoverUp]

Senator Grassley could be most effective by in his quest to punish the guilty by having the Senate eliminate the effect of Bush-the-Crusader's May 5, 2006 presidential bull (see Business Week May 29, 2006) that gave unelected "national security" bureaucrats authority to exempt companies working on certain top-secret defense projects from portions of the 1934 Securities Exchange Act.

Politically-connected officers of publicly held companies having nothing to do with the "defense industry" have bribed these "national security" bureaucrats with promises of post-government service directorships on their boards to have crimes, such as violations of the US Foreign Corrupt Practices Act (FCPA), immunized from reporting requirements to shareholders and the Securities and Exchange Commission (SEC). (See http://UnCoverUp.net and http://Iran-Conoco-Affair.US)

[Melvin Hagerman]

Would also be interesting to see if hat list would, or should, have names of certain Congressman and Senators, certain civil rights "leaders" and groups, and judges who were involved with the Community Reinvestment Act (CRA), which may have had a part in creating the financial and housing crises.

[Pancho]

Grassley is right on in his questions. However he's biting the hand that's feeding his party.