Corzine-MF Global Debacle Reeks of Cronyism

Peter Schweizer thinks Eric Holder needs to recuse himself

By Kevin Spak,  Newser Staff

Posted Jul 26, 2012 1:09 PM CDT | Updated Jul 26, 2012 1:21 PM CDT

(Newser) – If there's one issue that seems to unite people of all political persuasions, it's "the Justice Department's unwillingness or inability to charge, prosecute, and seek conviction of a single Wall Street executive in the wake of the largest financial collapse in US history," writes Peter Schweizer of the Washington Times. And nobody embodies the cronyism that has prevented such prosecutions quite like Jon Corzine. Attorney General Eric Holder still hasn't named a special prosecutor to investigate the former MF Global CEO, despite prodding from 65 members of Congress.

Corzine was once a client of Holder's law firm, and he raised $500,000 for President Obama's campaign. MF Global's bankruptcy trustee and counsel each have connections to the Obama administration as well; the trustee, for instance, testified on Holder's behalf in his confirmation hearing. Given this "tangle of relationships," Holder must appoint an independent investigator. "Until that happens, citizens on both ends of the ideological spectrum will be left to wonder whether cronyism—not objectivity—has blinded lady justice," Schweizer writes. Click for his full column.

Jon Corzine arrives on Capitol Hill to testify before the Senate Agriculture Committee hearing to examine MF Global bankruptcy, Dec. 13, 2011.   (AP Photo/Susan Walsh,File)
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