Matt Taibbi on Eric Holder’s predictable decision to not pursue criminal charges against Goldman Sachs:
“In the notorious Hudson transaction … Goldman claimed, in writing, that it was fully ‘aligned’ with the interests of its client, Morgan Stanley, because it owned a $6 million slice of the deal. What Goldman left out is that it had a $2 billion short position against the same deal.
If that isn’t fraud, Mr. Holder, just what exactly is fraud? […]
No, the real reason this wasn’t surprising is that Holder’s decision followed a general pattern that has been coming into focus for years in American law enforcement. Our prosecutors and regulators have basically admitted now that they only go after the most obvious and easily prosecutable cases. […]
But the Holders of the world do not want to be creative when the targets are politically influential rich people. Instead, they use their creativity against Roger Clemens, Barry Bonds, immigrant housekeepers, and guys who knock over liquor stores. They like to flex muscles against bank robbers, celebrity tax evaders (we can’t have Wesley Snipes on the loose!), truck hijackers, and drug dealers. As Gene Wilder would say, “You know – morons.”
Holder’s non-decision on Goldman is more than unsurprising. It amounts to an official announcement that the government is no longer in the business of prosecuting smart criminals. It’s pathetic. The one thing you pay any lawyer to have is balls, and our nation’s top attorney has none.”