Dorgan, Cantwell Push for Financial Crimes Task Force

Press Release

DORGAN, CANTWELL PUSH FOR FINANCIAL CRIMES TASK FORCE

U.S. Senators Byron Dorgan (D-N.D.) and Maria Cantwell (D-WA) are urging the nation's Attorney General to establish an Economic Crisis Financial Crimes Task Force dedicated to investigating and prosecuting any criminal behavior that was involved in the events that caused our financial crisis.

The Senators pointed out that a similar task force was created in connection with the Enron scandal, and it was instrumental in bringing criminals to justice. Given the magnitude of the current economic crisis, Dorgan and Cantwell believe the creation of a Financial Crimes Task Force is necessary to shore up confidence in the economic system.

"More than $9 trillion has been committed, pledged or loaned in response to the ongoing financial and economic crisis. On top of that, more than $10 trillion in stock market wealth has been lost as has more than $6 trillion in housing wealth," wrote the Senators to Attorney General Eric Holder urging the creation of this inter-agency Task Force. "In addition, millions of jobs have been lost and many millions of people have lost their homes to foreclosure. While this financial wreckage can be attributed in part to bad decisions and incompetence, it is also clear that some of the conduct and activities were simply illegal. It must all be thoroughly investigated and, where appropriate, prosecuted."

"The Justice Department must bring a singular focus and intensity to those who have caused such economic destruction. We request that you, as soon as possible, create a Task Force and assign talented and experienced prosecutors and investigators to assure the American people that wrongdoers will be brought to justice. Our country is at an economic precipice and those who brought us here must be held to account," wrote the Senators.

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