Free Republic

Only weeks after the White House made headlines with a directive urging prosecutors to get tougher on corporate crime, the Obama administration has moved to protect a convicted financial firm from punishment. The bank, Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama’s political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton’s 2016 campaign. In 2014, Credit Suisse pleaded guilty to criminal charges for operating “an illegal cross-border banking business that knowingly and willfully aided and assisted thousands of U.S. clients in opening and...

NEW YORK (CBS.MW) -- Former Credit Suisse First Boston star banker Frank Quattrone surrendered to federal authorities Wednesday morning and will face criminal charges, prosecutors said. James Comey, U.S. Attorney for the Southern District of New York, will unveil the charges at a 1 p.m. ET press conference. Quattrone, a former star banker for CSFB, allegedly advised his colleagues in late 2000 to destroy documents while regulators were investigating the ways Wall Street investment banks were doling out shares of lucrative initial public offerings. The former banker is charged in a three-count criminal complaint with obstruction of justice, document destruction...