Holder Rule breaking down

[DrDelirium]

The Holder Rule, that protected corrupt banksters in the 2008 financial crisis from being personally prosecuted to 'avoid collateral damage' in the financial sector, has been breached, with the conviction of a pair of HSBC bankers for 'front running' a transaction against one of their clients. The amount involved, $500k profits on $8 mil added costs on a $3.5 billion transaction, is small potatoes, but it opens the door to holding bank officials personally responsible for their crimes.


https://www.bloomberg.com/news/arti...iction-will-echo-through-5-trillion-fx-market

 

[Liar]

Good.

But.

Are you talking about another Holder Rule than the one I know of, or does it have other applications than protecting consumers in deals with seller arranged credit? Or is that some weird side effect of it that I, dumb as I am on legal matters, fail to grasp?

 

[DrDelirium]

Good.

But.

Are you talking about another Holder Rule than the one I know of, or does it have other applications than protecting consumers in deals with seller arranged credit? Or is that some weird side effect of it that I, dumb as I am on legal matters, fail to grasp?

This one is just jargon for a policy under Eric Holder not to prosecute the bad actors in the 2008 financial crisis.

 

[Liar]

This one is just jargon for a policy under Eric Holder not to prosecute the bad actors in the 2008 financial crisis.

Uh, so a political cudgel. Got it.

Maybe they should name it something that isn't already a thing.