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Biden's crime chief had red flags on financial disclosure form but Senate ignored them
By Pam and Russ Martens
Wall Street on Parade
Monday, July 26, 2021
What happened on July 20 with the 56-44 vote in the Senate to confirm Kenneth Polite (pronounced Po-leet) to head the most powerful criminal law enforcement office in the United States, the Criminal Division of the Department of Justice, is a cautionary tale that should concern every American.
Despite Polite owing more than $1.5 million in debts according to his financial disclosure form and public mortgage records; paying more than 18 percent interest on an outstanding balance on a credit card; 19.99 percent interest on a personal loan; and now accepting a job where his income will be slashed by about 77 percent, not one senator on the Senate Judiciary Committee asked a single question about this man's bizarre financial picture during his confirmation hearing on May 26 or in written questions that followed.
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Sen. Dick Durbin, a Democrat from Illinois, chairs the Senate Judiciary Committee. Durbin took to the Senate floor on July 20, the day of the full Senate vote on Polite, to give a glowing endorsement of Polite.
Polite hails from the law firm of Morgan, Lewis & Bochius, which has plenty of red flags itself. Polite was a partner there earning approximately $877,500 in 2020. His job at the Justice Department will pay less than $200,000 annually. For decades Morgan, Lewis has provided legal representation to the Wall Street mega-banks. Polite’s financial disclosure form reveals that JPMorgan Chase was one of his clients over the past year.
JPMorgan Chase has racked up five felony counts brought by the Justice Department in the past seven years, including two felony counts brought just last fall. The bank admitted to all five counts. In September of 2019, the Justice Department charged that traders at the bank were running a racketeering enterprise out of its precious metals trading desk. ...
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