ML-Implode News - Fallout from 'Untouchables' Documentary: Another Wall Street Whistleblower Gets Reamed

``Most of the letter is just a long list of the many wondrous accomplishments the DOJ has secured under Eric Holder's watch, including felony manslaughter convictions against BP, or "fraud convictions for a board member of Goldman, Sachs," or the ongoing LIBOR investigation, or the prosecution in the Stanford Ponzi case. But the rest of the letter totally ignores the Brown/Grassley questions, particularly on the matter of which experts were and are being consulted.
On those questions, the DOJ would say only that "it is entirely appropriate for prosecutors to hear from subject matter experts at relevant regulatory authorities" and that . . .

When the Department consults with relevant regulatory authorities, or hears from companies who are targets of the Department's investigations and their counsel regarding potential collateral consequences of enforcement actions, neither those agencies nor the target companies receive any compensation from the Department.

That is one hell of a slippery piece of language. It's great that the Department of Justice is not paying, say, HSBC to consult with them on the question of whether or not HSBC should be prosecuted. What a relief! But that doesn't mean they're not paying someone else for that kind of advice.''

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Fallout from 'Untouchables' Documentary: Another Wall Street Whistleblower Gets Reamed