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Why Is Eric Holder Stepping Down? – Dave Kranzler

Tuesday, September 30, 2014 10:01

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(Before It's News)

TND Guest Contributor: Dave Kranzler |

It looked like Eric Holder was set to be Obama’s “guy” running the Justice Department until Big O’s term expires. But he suddenly stepped down yesterday without a meaningful explanation.

It looks like the immediate trigger is a judge’s ruling denying the Obama Government’s motion to delay the Fast and Furious documents, which document Eric Holder’s approval of a gun-running operation that was funneling guns ultimately to drug cartels. The guns were used in the murder of U.S. citizens.

The ruling was handed down yesterday (Sept 25) and shortly thereafter Holder resigned from the Justice Department:

The Obama administration failed to game the courts and now will have to account for its Fast and Furious lies. Two federal courts have now rejected Eric Holder’s election-related ploy to keep this information from the American people,” Judicial Watch President Tom Fitton said in a statement in reaction to the ruling. “This is a battle that put Eric Holder in contempt of Congress, saw Nixonian assertions of executive privilege by Barack Obama, and a hapless Congress in the face of all this lawlessness (article link).

While this may be the best “cover” story under which Holder is resigning, his greater crimes were his aiding and abetting of the greatest escalation in banking criminality and fraud in the history of the world. Holder’s appointment to AG was seeded in extreme conflict of interest from the beginning – as are all of Obama’s cabinet appointments. Prior to being appointed AG, Holder was a senior partner at Covington Burling

Covington Burling is the real life version of John Grisham’s “The Firm.” Only the mob racketeering interests that Covington Burling represents and keeps out of harm’s way are the crime families of Too Big To Fail Wall Street Banks.

While head of the Justice Department, Holder’s reign helped usher in financial system fraud and criminality of unprecedented proportions. Yet, financial industry investigations and prosecutions declined precipitously under Holder’s watch to levels that were below even that of the Bush Administration, itself extraordinarily lenient in its tolerance of Wall Street fraud.

Our entire financial and economic system is on the precipice of major collapse. It is no coincidence that Holder is leaving the mess he helped create before the napalm ignites. It’s similar to Bill Gross’ timely exit at Pimco, where his “famed” Total Rate of Return flagship bond fund is nothing more than a viper’s nest of dangerous derivatives.

For me, the departure of both of these people signify that the flames of Rome are about to engulf our system.

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About Dave Kranzler:

I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics. Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.