Fearful Symmetries

Witness a machine turn coffee into pointless ramblings...

28 January, 2013

We Don't Need Criminals' Friends Policing Them

Lanny Breuer, who had a starring role in Frontline's "The Untouchables", has resigned. As Chief of the Department of Justice's Criminal Division, Breuer explained to the camera his division's impotence when it comes to locking up the banksters. On camera he is also confronted with a speech he gave to the New York Bar Association in which he admitted to fretting over doing his fucking job, which consists of administering justice blindly. He worried about whether prosecuting banksters would have adverse effects on the companies for whom they worked.

Just as this was sinking in, I read that President Obama has nominated Mary Jo White to head the SEC. I didn't know who she was and then I read about her.

In his second inaugural address, Obama said, "Together, we discovered that a free market only thrives when there are rules to ensure competition and fair play." OK, so far, so good. So why, then, did he nominate Mary Jo White?

Matt Taibbi has some dirt on White, namely that she pulled strings within the SEC to put the kibosh on an investigation of Morgan Stanely CEO John Mack when she was in private practice.

It didn't take long for Morgan Stanley to work its way up the SEC chain of command. Within three days, another of the firm's lawyers, Mary Jo White, was on the phone with the SEC's director of enforcement. In a shocking move that was later singled out by Senate investigators, the director actually appeared to reassure White, dismissing the case against Mack as "smoke" rather than "fire." White, incidentally, was herself the former U.S. attorney of the Southern District of New York — one of the top cops on Wall Street . . .

Aguirre didn't stand a chance. A month after he complained to his supervisors that he was being blocked from interviewing Mack, he was summarily fired, without notice. The case against Mack was immediately dropped: all depositions canceled, no further subpoenas issued. "It all happened so fast, I needed a seat belt," recalls Aguirre, who had just received a stellar performance review from his bosses. The SEC eventually paid Aguirre a settlement of $755,000 for wrongful dismissal.

From what I've read, White proved herself tenacious and capable as a U.S. Attorney – she locked up at least one prominent mob figure – but here she's being asked to police her friends, friends who have proven themselves corrupt. And she has shown that she is willing to aid and abet their malfeasance.

I am reminded of something David Sirota wrote last week:

Four years into his presidency, Barack Obama’s political formula should be obvious. He gives fabulous speeches teeming with popular liberal ideas, often refuses to take the actions necessary to realize those ideas and then banks on most voters, activists, reporters and pundits never bothering to notice – or care about – his sleight of hand.

It seems like a majority of Lefties in this country have a nearly unlimited capacity to accept Barack Obama pissing on their backs and telling them it's raining. I won't be surprised at all if White gets the job.
|| Palmer, 6:02 AM

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