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Sessions asks 46 Obama-era U.S. attorneys to resign

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rooster59    2,229

Sessions asks 46 Obama-era U.S. attorneys to resign

By Joel Schechtman and Mark Hosenball

 

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U.S. Attorney General Jeff Sessions in Washington, U.S., March 6, 2017. REUTERS/Kevin Lamarque

 

WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions has asked the remaining 46 chief federal prosecutors left over from the Obama administration to resign, including Manhattan U.S. Attorney Preet Bharara who had been asked to stay on in November by then President-elect Donald Trump.

A Justice Department spokeswoman confirmed the resignation requests applied to Bharara. However, it was not immediately clear if all resignations would ultimately be accepted.

Bharara was unsure where he stood because he did not know if the person who contacted him was aware that Trump had asked him to remain in office, according a source familiar with the matter. Bharara's office handles some of the most critical business and criminal cases passing through the federal judicial system.

U.S. attorneys are political appointees, and the request from Trump's Justice Department is part of a routine process. Not every new administration replaces all U.S. attorneys at once.

Bharara met with Trump in Trump Tower on Nov. 30. Afterward, Bharara told reporters the two had a "good meeting" and he had agreed to stay on.

The Justice Department statement said: "Until the new U.S. attorneys are confirmed, the dedicated career prosecutors in our U.S. attorney’s offices will continue the great work of the department in investigating, prosecuting, and deterring the most violent offenders.”

Robert Capers, U.S. Attorney in Brooklyn, issued a statement saying he had been asked to resign. He said Bridget Rohde, the chief assistant U.S. attorney in that office, would take over his role in an acting capacity.

"It has been my greatest honour to serve my country, New York City and the people of this district for almost 14 years, with the last 17 months serving as United States Attorney," Capers said.

 
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-- © Copyright Reuters 2017-03-11

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Ramen087    485
43 minutes ago, ilostmypassword said:

Uh-huh. 2 months ago Trump had a meeting with Preet Bharara, who has been aggressively prosecuting financial crimes on Wall Street, was asked by Trump and Sessions about staying on.  Now he's out. Trump has appointed nothing but Wall Street aiders and abetters to every position that has anything to do with watching over the financial industries.  This move is right in keeping with that approach. It's just a matter of time before the next really bad crash occurs.

It's always just a matter of time before crashes occur; that's how the term economic cycles came into being. Fear and greed are the two major determinants of what moves the herd in regards to investing momentum and money flows in and out of markets. It's not really the fault of one political party or another when it comes to major moves in economic cycles. For instance Glass Steagall was repealed during Clinton admin, but many other things had to happen for the build up of leverage and creation of complex derivatives (and many others) etc for the bubble to burst. Legislators have trouble keeping up and mitigation of swings is usually the best outcome, but large moves in economic cycles will always be there. . .

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ilostmypassword    6,723
Just now, Ramen087 said:

It's always just a matter of time before crashes occur; that's how the term economic cycles came into being. Fear and greed are the two major determinants of what moves the herd in regards to investing momentum and money flows in and out of markets. It's not really the fault of one political party or another when it comes to major moves in economic cycles. For instance Glass Steagall was repealed during Clinton admin, but many other things had to happen for the build up of leverage and creation of complex derivatives (and many others) etc for the bubble to burst. Legislators have trouble keeping up and mitigation of swings is usually the best outcome, but large moves in economic cycles will always be there. . .

Not really, You fail to distinguish between crashes and the normal ups and downs of the business cycle. The last economic crash before 2008 occurred in 1929. Crashes happen because regulators look the other way or don't have the tools to make large financial institutions behave responsibly.

 

Even if Glass Steagall were in effect, it wouldn't have been applicable to shadow banks like Goldman Sachs. You remember Goldman Sachs?  The shadow bank that got a huge bailout? Trump has lots of appointees coming from there including Gary Cohn, the number 2 man at Goldman Sachs.)

 

But Dodd Frank did address the problems created by shadow banks and other large financial institutions. One way to tell that is by how vociferously these institutions oppose it. And now Trump wants to get rid of Dodd Frank and has appointed Wall Street yes men to keep on eye on Wall Street. Clearly, that's going to end well.

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Ramen087    485
11 minutes ago, ilostmypassword said:

Not really, You fail to distinguish between crashes and the normal ups and downs of the business cycle. The last economic crash before 2008 occurred in 1929. Crashes happen because regulators look the other way or don't have the tools to make large financial institutions behave responsibly.

 

Even if Glass Steagall were in effect, it wouldn't have been applicable to shadow banks like Goldman Sachs. You remember Goldman Sachs?  The shadow bank that got a huge bailout? Trump has lots of appointees coming from there including Gary Cohn, the number 2 man at Goldman Sachs.)

 

But Dodd Frank did address the problems created by shadow banks and other large financial institutions. One way to tell that is by how vociferously these institutions oppose it. And now Trump wants to get rid of Dodd Frank and has appointed Wall Street yes men to keep on eye on Wall Street. Clearly, that's going to end well.

Goldman didn't need the money. They had to take it to help avoid a run on the banks who woúld have failed. Shadow banks?

Goldman would surely have preferred to remain strictly a partnership. They run their firm more like a partnership than any firm on The Street. Don't blame them.   

Crashes & bubbles are extreme ups and downs in the economic cycle. 

Pre-emptively placing the blame kn the sitting US President does nothing but feed into the 'by any means necessary' mantra of those who disliked Mr. Trump as soon as (or maybe even prior to) his campaign began. 

I prefer to trust the current US Gov'ts elected official on both sides of the aisle to review the changes are work towards the optimal result. If you want to sick with your clairvoyance which foresees a poor outcome, you're welcome to it. 

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Thaidream    4,341

I do not trust either the Republicans or Democrats to do the right thing when you have the wrog leader. Trmp loves wall Stret because they helped finance him and keep him rich. getting rid of regulation is what Wall Street wants so they can play loose and fast with their clients money. Without regulation- they are as bad as the boiler rooms that bilk investors.  Not one person was indicted or jailed from the 2008 meltdown and the financial industry has been fined billions for shady practices. When some of thes people are jailed for their manipulation and greed- then I will believe Governmen cares.

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