Eric holder is now saying that the DoJ will finally start prosecuting bankers:

The Justice Department has launched criminal fraud investigations of individuals at Wall Street firms, with the hopes of filing formal charges in the coming months, Attorney General Eric H. Holder Jr. said Wednesday.

“We are making good progress in these cases, which involve conduct that has undermined the integrity of our markets,” Holder said at New York University Law School.

The nation’s top prosecutor did not go into detail about the inquiries, but people familiar with the cases say the probes involve the possible manipulation of the $5.3 trillion global foreign-exchange markets.

At least seven banks, including JPMorgan Chase, Citigroup and Barclays, disclosed in regulatory filings last year that “various government authorities” had requested information about their trading activities. Bank employees have turned over information to U.S. authorities about the trading scheme, according to people who were not authorized to speak publicly about the ongoing investigations.

If any person is criminally prosecuted, it will be the little fish, and any settlement will be small enough to be dismissed as a cost of doing business, and any admission will be minor enough that no bank will lose their dollar clearing privileges.

This is theater.

Lucy will pull away the football, again.

If Eric “Place” Holder or Barack Obama were interested in prosecuting law breakers on Wall Street, they would already have done it.

There is no interest in this administration in prosecuting the general criminality that is the US financial industry.

H/t CT at the Stellar Parthenon BBS.