No Evidence Justice Dept. Will Prosecute U.S. Banks Responsible for Financial Crisis


The Real News Network has the interview No Evidence Justice Dept. Will Prosecute U.S. Banks Responsible for Financial Crisis. This interview is with William Black who, as a bank regulator, made thousands of criminal referrals to the Justice Department during the S & L crisis.

DESVARIEUX: Alright. And what about our viewers that might be listening to this and who are so frustrated with this current situation? What could they possibly do to maybe even push this along?

BLACK: Well, demand that they bring the criminal prosecutions. That had–what–is what produced Department of Justice action in the savings and loan debacle. Now, it was helped greatly by the fact that we had tens of thousands, ultimately, of criminal referrals piling up that were not being investigated by the Justice Department. But that became a political scandal. And so we need Elizabeth Warren to make this one of her leading things that she hammers them with basically every day and to hold hearings in the Senate about the failure to reestablish the criminal referral process and to provide the Justice Department both the expertise and kick in the butt that regulators have to provide if they want to get prosecutions.

 


Read my previous post Holder: No banks ‘too big to jail’ to see that Elizabeth Warren was one of the first to make sure we knew that Attorney General Holder had just endorsed prosecuting big banks.

Well, we heard the call from William Black. Demand prosecution. Tell Elizabeth Warren to push harder. She is my Senator, and I will certainly do what Bill Black said. Who’s going to join me?

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