Now we know why none of the big banks were prosecuted by the Obama administration:
Just after announcing his resignation as U.S. attorney general, Eric Holder has accepted a top job with Wall Street finance giant JPMorgan Chase.At this point, I think the federal government should go back to the spoils system. It would be considerably less corrupt.
Starting in early November, Holder will serve as JPMorgan Chase’s chief compliance officer, where his responsibilities will include lobbying Congress on the company’s behalf and ensuring it “gets the best deal possible” from any new proposed financial regulations. Holder will also fetch morning coffee and breakfast orders for CEO Jamie Dimon and board members.
For his efforts, Holder will earn an annual salary of $77 million plus bonuses for a job well done.