PUBLIC ADVOCATE APPLAUDS THE RESIGNATION OF U.S. ATTORNEY GENERAL ERIC HOLDER

September 25, 2014

The Wall Street Journal Reports:

President Barack Obama announced Thursday U.S. Attorney General Eric Holder will resign, signaling the departure of one of the president's closest friends in government and most controversial deputies.

Mr. Holder, who has been in the job since the beginning of the Obama administration, has long signaled he plans to leave the job by the end of 2014.

Mr. Obama hasn't yet chosen a successor, a White House official said. Mr. Holder's last year on the job has been marked by a push to strike multibillion-dollar settlements with big banks over their conduct leading up to the 2008 financial crisis, in the face of criticism that he failed to charge any senior executives for their roles in the meltdown.

His department recently extracted a record $16.65 billion from Bank of America Corp. for its sale of flawed mortgages, and last year it reached a $13 billion mortgage settlement with J.P. Morgan Chase & Co.