Richard Blumenthal Asks Eric Holder Where the Foreclosure Prosecutions Are
It took until Richard Blumenthal’s turn in Eric Holder’s appearance before the Senate Judiciary Committee today before Holder got asked about foreclosure fraud. Blumenthal generously suggested that, “I know the foreclosure crisis is on your agenda,” and then asked if we’ll ever see a prosecution on robosigning and other fraud.
Holder responded, at first, by pointing to states Attorney Generals, claiming they are conducting investigations. I do hope he’s thinking of Eric Schneiderman, Beau Biden, and Catherine Cortez Masto, because the ones working on the settlement are pointedly avoiding any real investigation. Holder then further dodged, suggesting DOJ might find other ways–like civil suits–to hold these banks accountable.
Finally, and perhaps most interesting, Bluementhal asked why DOJ had not intervened in the Bibby, Donnelly v. Wells Fargo suit, a whistleblower suit against Wells Fargo, BoA, Chase, Ally, and others for the illegal legal fees the banks charged homeowners, including veterans.
Holder hedged in response to that question, promising he’d find out who had made the decision not to intervene and the basis for the decision.
Unfortunately, Blumenthal pointedly avoided asking for a 30 day response to that request. So an explanation for why DOJ isn’t helping to sue banks for the illegal fees they’ve charged will probably come long after DOJ settles for those illegal fees.
This is why hope fades in Obama. Outside the beltway, the whole situation is crystal clear. We also know that we would be in the pokey posthaste if WE tried doing what these guys have done.
Eric Holder = Sgt. Schultz. He sees nothing. He knows nothing. He prefers it that way.
Boxturtle (Were I Blumenthal, I’d have handed Holder a cell phone and told him to call now)
Interestingly, the docket shows a large number of defendants have been dismissed, and no filings Re: settlement (not that there should be). I am wondering if this isn’t settling out at a fast rate, and not allowing any precedent to be set on the issue?
Hmm… Blumenthal is the most junior Dem Senator on the committee, right? Does that mean no other Dem asked about foreclosure fraud in the first round? Wow, those guys really need to buy a clue.
@WilliamOckham: No other Senator, period, asked about foreclosure fraud.
Though of course Bluementhal is not that removed from this whole scene, so I guess it’s not surprising he asked.
promising he’d find out who had made the decision not to intervene and the basis for the decision.
It was his Granny, in the Library with the Cell Phone
Think outside the box.
Can you imagine employees quiting major corporations, and withdrawing all assets from financial corporations?
WE, the people are the solution.
Realize that institutions (gov’t incl.)will not voluntarily
create a new paradigm to remove debt-bondage and respect the freedom of people.
The majority may still BELIEVE that government will fix this.
But realize that the people can unite to create and implement the solutions locally.
Awareness of this will spread.
Yes, this is inconvenient but necessary.
“The power is in the hands of the people they have only but to exercise it.”
The dodge about deferring to the state AG’s is particularly galling, as there are several credible routes to prosecute federal crimes, securities and mail fraud among them.
Mr. Holder and his patrons seem reluctant to confront their principal donors in an election year, even when their behavior threatened – and remains unreformed – to bring down the international financial system and impoverish already underemployed Americans. Not much of a profile in courage for Mr. Obama and his stable mates. It’s a profile in crony capitalism of a kind only Milton Friedman could admire.
my view is that blumenthal has no serious interest in pinning holder down. he simply wants to use this opportunity to deceive the citizens of connecticut into believing he is really concerned about bank mortgage fraud.
4 years from now it can be used as a blumenthal promo on teevee.
this sort of devious publicly expressed pseudo-concern is a major tactic which corrupt democrat senators and congressrats use to play the game of “we’re in the people’s” corner.
blumenthal appears to be the latest one in a long line of such
democratic scoundrels.
It makes me nostalgic for Bush Srs DOJ. Remember that Keating & ninety nine hundred more banksters went to jail after the S & L scandal ,