Protecting Wall Street thugs has finally paid off for former Attorney General Eric Holder as he’s returning to his old job at the Covington & Burling law firm, reported Salon. Covington & Burling is a corporate law firm that defends Wall Street criminals.
As Attorney General, Holder made approximately $200,000 a year. When Holder left Covington & Burling, he was making over $2 million a year. He will likely go back to that salary, if he isn’t paid more.
Holder worked at Covington & Burling from 2001 until 2009, when President Barack Obama appointed him as the U.S. Attorney General. The law firm has a long list of Wall Street clients that includes JPMorgan Chase, Citigroup, and Bank of America. These banks have committed a plethora of crimes over the last several years, and Holder did nothing of significance to punish them.
According to SourceWatch, Covington & Burling’s clients “routinely signed foreclosure related documents outside the presence of a notary public and without knowing whether the facts they contained were correct.” Each practice is illegal. No one connected with the crimes was ever arrested or put in jail as part of the scandal. Holder was Wall Street’s guardian angel.
Covington & Burling may also be partly responsible for the 2008 recession. Salon reported that Covington lawyers wrote legal justification for MERS, a private electronic database “that facilitated mortgage-backed securities.” This securitization perpetuated subprime lending which created the housing bubble that eventually caused the 2008 crash.
Because Holder is the former AG, he won’t be involved in cases that occurred during his time at the Justice Department. However, he can still act as a “behind the scenes” advisor. The only difference between then and now is his job title. Holder will still protect Wall Street like he always has and will make tons of money doing it.
“This is home for me,” said Holder about Covington & Burling.