Saturday, February 14, 2015

In Blow to Obama Loretta Lynch Hearings Delayed Over HSBC Questions

A funny thing happened on the way to the slam dunk appointment of new U.S. Attorney General Loretta Lynch. The Senate confirmation hearings have stalled amid questions about Lynch’s involvement in a sweetheart deal with the corrupt British megabank HSBC. Granted that it is probably just more of the same political theater but the Republicans have a chance to blow up the process and prevent Lynch from ever assuming office as the nation’s top law enforcement official. This would be a damned good thing in consideration of her past affiliation with the Timothy Geithner led New York Federal Reserve.

As reported by the website of beltway news organization Politico in a story simply entitled “Loretta Lynch's delayed vote over confirmation”:

Democrats are now increasingly slamming Republicans’ handling of President Barack Obama’s nominee for attorney general, accusing them of slow-walking the veteran federal prosecutor’s confirmation. Their newest evidence: the Senate Judiciary Committee’s decision Thursday to postpone voting on Lynch until after next week’s recess — which means she won’t get a final floor vote until March, at least five weeks after her confirmation hearing.

The confirmation pace stands in especially stark contrast to how quickly the GOP-led Senate has taken up Ash Carter’s nomination for defense secretary. He first appeared before the Senate Armed Services Committee Feb. 4, was swiftly reported out of that panel earlier this week and is headed to a Thursday confirmation vote.

“There’s so many similarities between the Lynch nomination and the Carter nomination,” said Sen. Chuck Schumer (D-N.Y.), one of Lynch’s biggest boosters. “And to move Carter so quickly and to slow down Lynch is very troublesome, and I think they ought to move her ASAP.”

One reason for the lag on Lynch is that after Obama nominated her in November, Senate Democrats agreed to postpone her confirmation into the new Republican-led chamber at the GOP’s request. Democrats meant it as a gesture of goodwill, and they also believed Lynch would be confirmed in either a Democratic- or GOP-controlled Senate.

But now the Democratic anger is beginning to flare up.

The story goes on to cite many whiny Democrats caterwauling in outrage over the treatment being given to Lynch. Naturally the loudest is Senator Schumer, a notorious whore for the big Wall Street casinos and the New York Fed that ensures that the Ponzi scheme will never end. While Politico doesn’t get into the specifics of Lynch’s HSBC dealings The Guardian provides more details. The following is from the story “Republicans seize on HSBC scandal to hold up Loretta Lynch's confirmation”:

Senate Republicans are seizing on the global tax scandal engulfing HSBC to delay the confirmation of Loretta Lynch, Barack Obama’s nominee for attorney general, the Guardian can reveal.

The Republican chairman of the Senate judiciary committee, Chuck Grassley, was on Friday preparing a fresh tranche of questions for Lynch about the huge cache of leaked data showing how HSBC’s subsidiary helped conceal billions of dollars from domestic tax authorities.

Grassley and another Republican senator are planning to investigate whether Lynch could have done more to stand up to the world’s second largest bank.

Lynch negotiated a controversial settlement with HSBC in 2012, after the bank admitted to facilitating money-laundering by Mexican drug cartels and helping clients evade US sanctions.

Now there are questions over why she did not also pursue HSBC over evidence that its Swiss arm helped US taxpayers hide their assets.

The secret bank files – obtained and examined in detail this week in a series of reports by the Guardian, CBS 60 Minutes and other media outlets – reveal that HSBC’s Swiss arm colluded with some high net-worth individuals to hide their assets from tax authorities across the world.

The new data, leaked by a whistleblower, was obtained by French tax authorities and shared with the US government in 2010, raising questions over why the Department of Justice has yet to take action against HSBC in the US.

Lynch is as dirty as Eric Holder if not worse. She wouldn't have gotten the nomination if there was any intention of going after the too big to fail banks and the criminals who wrecked the economy and are still ripping us off to this day. Lynch played a key role in the HSBC drug money laundering probe and despite her rhetoric to the contrary she is just one more fox that is going to be put in charge of the hen house. With both Hillary Clinton and Jeb Bush being cozy with the hedge fund hyenas and Wall Street moneychangers she could help to assist the transition for Obama's successor. Kind of like a liaison between D.C. and lower Manhattan as the revolving door keeps spinning.

This is a big blow to Barack Obama who has never failed to be a footstool for Wall Street schemers and Federal Reserve crooks. His malodorous administration was counting on the immunity talisman of being a black woman with parents who had backgrounds in the civil rights movement to allow him to install another protector of the banksters. It will only be a matter of time until the race card gets played if Lynch's appointment drags on because that is just the way that Obama and the slimy Democrats roll anymore.