DOJ Faked Wall Street Crack-Down

This just in: Eric Holder is a liar. This time the Attorney General’s Department of Justice released grossly exaggerated numbers of financial fraud cases pursued by the department. The numbers were released in October, just prior to Obama’s reelection. This dishonest political tactic goes something like, “lie about the numbers now to get him elected, and by the time the public finds out it will be too late for them to do anything”. Now the true numbers have emerged on the Department of Justice’s supposed crackdown on financial criminals.

In an October press release, the DOJ initially stated that the group indicted “530 defendants for allegedly victimizing more than 73,000 American homeowners — and inflicting losses in excess of $1 billion.”

But following pressure from the FBI, the Justice Department updated that release to show that the actual number of indictments was just 107 — an 80 percent reduction in criminal charges from the number originally claimed.

The number of affected homeowners dropped by 56,000 and the number of alleged losses fell over 90 percent, to just $95 million.

And why did the DOJ have to lie about cracking down on Wall Street? Because the top brass at the Department of Justice all came from firms defending Wall Street. It seems the fix has been in from the beginning, and all that rhetoric from Obama about cleaning up the banks, and punishing the financial criminals who victimized Americans, was just talk.

According to he Daily Caller the numbers were inflated by including cases that were pursued under the Bush administration, and grouping other criminal cases in with the mortgage fraud cases. A Bloomberg columnist repeatedly tried to get the complete list of the fraud cases, in order to determine their legitimacy, but was stonewalled.

“No wonder the government found it so difficult to bring a meaningful number of accounting-fraud cases against bank executives after the financial crisis,” he wrote on Sunday. “Its own books were cooked.”

3 thoughts on “DOJ Faked Wall Street Crack-Down

  1. Pingback: Logical Constructions to Figure Out Politics | Joe Jarvis

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  3. Pingback: America’s Economic Downfall: Abandoning the Free Market | Joe Jarvis

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