As Eric Holder’s resignation as U.S. Attorney General was revealed today, thoughts quickly transitioned to his replacement, with some talk speculating that Obama will have an opportunity to right a wrong in regards to big bank law enforcement. Although it is rarely reported on in the press, Holder’s legacy on Wall Street might be for his lack of investigation and prosecution of big bank crime. Eric Holder provided prosecutors legal cover It was Holder who, as a young DoJ lawyer in the late 1990s, wrote what became known as the “Holder letter,” which essentially provided prosecutors legal cover for not criminally prosecuting…
As Holder Steps Down, Big Bank Legacy Stands Out
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.