Sherrod Brown and Chuck Grassley Watch Frontline, Too

Citing this line from Lanny Breuer in last week’s Frontline program,

I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand.

Sherrod Brown and Chuck Grassley have sent a list of questions they want Eric Holder to answer by February 8.

The questions are:

  1. Has the Justice Department designated certain institutions whose failure could jeopardize the stability of the financial markets and are thus, “too big to jail”?  If so, please name them.
  2. Has the Justice Department ever failed to bring a prosecution against an institution due to concern that their failure could jeopardize financial markets?
  3. Are there any entities the Justice Department has entered into settlements with, in which the amount of the settlement reflected a concern that markets could be impacted by such a settlement?  If so, for which entities?
  4. Please provide the names of all outside experts consulted by the Justice Department in making prosecutorial decisions regarding financial institutions with over $1 billion in assets.
  5. Please provide any compensation contracts for these individuals.
  6. How did DOJ ensure that these experts provided unconflicted and unbiased advice to DOJ?

I’m interested in their focus on contractors. Has someone like Promontory Financial Group been making these decisions too?

In any case I await Holder’s non-responsive answer with bated breath.

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13 Responses to Sherrod Brown and Chuck Grassley Watch Frontline, Too

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Emptywheel Twitterverse
bmaz @TimothyS And I do not understand why anybody thinks Snowden owes anything. But, fair enough. Peace.
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bmaz @TimothyS So? Why are not more and better authorities not doing so? Placing anything on the one man who has brought this to light is wrong.
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bmaz That could never happen today because dimes are pennies and there are no pay phones in airports. #SevenDaysInMay
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bmaz Whats hilarious is Sen Ray Clark has to literally borrow a dime to make a phone call to save the Constitutional democracy #SeveDaysInMay
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bmaz Sen. Ray Clark was the real hero in Fletcher Knebel's book. Less so in Frankenheimer's movie, , but Ed O'Brien still very awesome.
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bmaz @PhilPerspective @tcm I DVR'd it a while back; that is what I am watching. God I love this movie, and book, though.
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bmaz @TimothyS That is not his affirmative duty, whether we all may want it or not.
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bmaz Gen. James Matoon Scott wrote incriminating letters to Ava Gardner; today craven DOJ would cover crimes with state secrets. #SevenDaysInMay
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bmaz Where is ECONCOM now? In the Hayden/Alexander/Rogers big daddy fantasy land reality: http://t.co/THOkPoVIXp
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bmaz @Crimefile Who, me??
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bmaz @Crimefile Um Crimefile, you are better than to retweet a complete dipshit like Johnson.
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