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Attorney General Eric Holder warns to hold Wall Street accountable

04 February 2009 13:31 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. United States’ first African-American Attorney General Eric Holder has signalled a clean break from Bush administration and has warned to hold Wall Street accountable if financial institution engaged in frauds that added to economic downturn.
On his first day in office, Holder, who was sworn in by Vice President Joe Biden, vowed to bring in a new era in the Justice department, which had been wrecked by Bush administration’s politically motivated hirings and firings. The black Attorney Genera l said he would restore the agency’s reputation.
â€œThis is a place which needs to heal,’’ he told reporters. Biden said henceforth the Attorney General’s office would return to past standards of â€œno politics, no ideology, only a clear assessment of law and facts.’’
Holder, who was confirmed by a 75-21 Senate vote, said his agency staff would be to ensure that tax payers’ money was utilised properly by the Wall Street companies. â€œWe won’t go for witch-hunting. Yet we will drill down to see to what extent the econom ic troubles are the result of fraud or misconduct,’’ he said.
â€œWe’ll find and hold people accountable,’’ the new Attorney General said echoing the hard words of his President that bailouts packages were utilised by companies in transparent manner.