Matthew Boyle | Cronyism: Why Obama won’t prosecute bankers

Posted on August 12 2012 – 2:30 PM – Posted by: Doug Brady

A new report from the conservative Government Accountability Institute (GAI)  finds that President Barack Obama’s and Attorney General Eric Holder’s failure  to criminally charge any top Wall Street bankers is likely a result of cronyism  inside the Department of Justice and political donations made to Obama’s  campaign.

Despite Obama’s and Holder’s “heated rhetoric” against Wall Street (in 2009,  Obama blamed the 2008 financial collapse on “reckless speculation of bankers” while Holder charged that “unscrupulous executives, Ponzi scheme operators and  common criminals alike have targeted the pocketbooks and retirement accounts of  middle class Americans”), they haven’t “filed a single criminal charge against  any top executive of an elite financial institution,” GAI wrote in its report, exclusively obtained by The Daily Caller.

GAI argues that the Obama administration’s decision to not go after Big  Finance is due to senior DOJ leadership — Holder, Associate Attorney General Tom  Perrelli, Associate Attorney General Tony West, Assistant Attorney General Lanny  Breuer, Deputy Attorney General James Cole and Deputy Associate Attorney General  Karol Mason — who “all came to the DOJ from prestigious  white-collar defense firms where they represented the very financial  institutions the DOJ is supposed to investigate.”

More.

Article source: http://conservatives4palin.com/2012/08/matthew-boyle-cronyism-why-obama-wont-prosecute-bankers.html