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Guess Where Eric Holder Works Now?

You can tell a lot about a man, not by the position he serves in government, but the position he serves after he leaves government. If there was any question about where Eric Holder’s allegiances lie, look no further than his new job to clear that confusion right up.

The Intercept reports: 

After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former Attorney General Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients. The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Holder worked at Covington from 2001 right up to being sworn in as attorney general in Feburary 2009. And Covington literally kept an office empty for him, awaiting his return.

The Covington & Burling client list has included four of the largest banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. Lobbying records show that Wells Fargo is still a client of Covington. Covington recently represented Citigroup over a civil lawsuit relating to the bank’s role in Libor manipulation.

Covington was also deeply involved with a company known as MERS, which was later responsible for falsifying mortgage documents on an industrial scale. “Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JPMorgan Chase and several other large banks,” according to an investigation by Reuters.

Of course, a look at Eric Holder’s record as Attorney General reveals that he was the king of corporate welfare and special deals all along.

The Department of Justice under Holder not only failed to pursue criminal prosecutions of the banks responsible for the mortage meltdown, but in fact de-prioritized investigations of mortgage fraud, making it the “lowest-ranked criminal threat,” according to an inspector general report. For insiders, the Holder decision to return to Covington was never a mystery. Timothy Hester, the chairman of Covington, told the National Law Journal that Holder’s return to the firm had been “a project” of his ever since Holder left to the join the administration in 2009. When the firm moved to a new building last year, it kept an 11th-story corner office reserved for Holder.

Holder’s big move is an embarrassing smack in the face to Democrats who have been attacking big banks and Wall Street since the financial crisis. I would expect they sweep the news under the rug and pretend it’s not happening, kind of like when top officials in the Obama White House left to join BP, or when the White House hired well over a baker’s dozen of former Goldman Sachs employees.

Tom Borelli

Dr. Tom Borelli is a contributor to Conservative Review and is a TV and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for ConservativeReview.com, The Washington Times and authored articles for Newsmax magazine. Dr. Borelli is also a regular political panelist on NewsmaxTV and i24 News he also co-hosts radio programs on SiriusXM Patriot with his wife Deneen Borelli. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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