Holder Says DOJ White-Collar Prosecution Record “Will Stand Test Of Time”


Attorney General Eric Holder defended the U.S. Justice Department’s track record holding large companies and financial institutions accountable for wrongdoing, telling a Senate committee his agency’s record “will stand the test of time,” Legal Times reports. “We have gotten pleas both from institutions and from individuals,” Holder said. “We've also done creative and, I think, appropriate things, appropriately aggressive things, with regard to our use of the civil law as well.”

Holder touted Justice’s $13 billion settlement with JPMorgan Chase & Co. and the $1.2 billion agreement with Toyota. “We’re making good on our determination to protect consumers and address fraud in all its forms,” he said. Sen. Jeff Merkley (D-OR) listed a number of big issues—such as offshore tax evasion, manipulation of LIBOR and structured mortgage-backed securities. “Have we reached a different point now?” Merkley asked Holder. “Have we successfully tackled the issue of too big to fail, and its close cousin, which is more in your realm, of too big to jail?” Holder said “no institution is too big, no person is too important to be held accountable in a criminal sense if that's appropriate.” Then he crafted a list of his own—in rapid-fire style—of guilty pleas that federal prosecutors have obtained.

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