From the Archive: Retired Gen. David Petraeus confessed on Thursday to giving sensitive government secrets to his mistress and then lying about it to the FBI, but will get no jail time, only two years probation and a fine, showing that he is too big to jail, as ex -CIA analyst Ray McGovern predicted in March.
By Ray McGovern (Originally published on March 5, 2015)
The leniency shown former CIA Director (and retired General) David Petraeus by the Justice Department in sparing him prison time for the serious crimes that he has committed puts him in the same preferential, immune-from-incarceration category as those running the financial institutions of Wall Street, where, incidentally, Petraeus now makes millions. By contrast, “lesser” folks – and particularly the brave men and women who disclose government crimes – get to serve time, even decades, in jail.
Petraeus is now a partner at KKR, a firm specializing in large leveraged buyouts, and his hand-slap guilty plea to a misdemeanor for mishandling government secrets should not interfere with his continued service at the firm. KKR’s founders originally worked at Bear Stearns, the institution that failed in early 2008 at the beginning of the meltdown of the investment banking industry later that year.
Despite manifestly corrupt practices like those of subprime mortgage lenders, none of those responsible went to jail after the 2008-09 financial collapse which cost millions of Americans their jobs and homes. The bailed-out banks were judged “too big to fail” and the bankers “too big to jail.”
Two years ago, in a highly revealing slip of the tongue, Attorney General Eric Holder explained to Congress that it can “become difficult” to prosecute major financial institutions because they are so large that a criminal charge could pose a threat to the economy – or perhaps what he meant was an even bigger threat to the economy.
Holder tried to walk back his unintended slip into honesty a year later, claiming, “There is no such thing as ‘too big to jail.’” And this bromide was dutifully echoed by Holder’s successor, Loretta Lynch, at her confirmation hearing in late January.
Words, though, are cheap. The proof is in the pudding. It remains true that not one of the crooked bankers or investment advisers who inflicted untold misery on ordinary people, gambling away much of their life savings, has been jailed. Not one.
And now Petraeus, who gave his biographer/mistress access to some of the nation’s most sensitive secrets and then lied about it to the FBI, has also been shown to be too big to jail. Perhaps Holder decided it would be a gentlemanly thing to do on his way out of office – to take this awkward issue off Lynch’s initial to-do list and spare her the embarrassment of demonstrating once again that equality under the law has become a mirage; that not only big banks, but also big shots like Petraeus – who was Official Washington’s most beloved general before becoming CIA director – are, in fact, too big to jail.
It strikes me, in a way, as fitting that even on his way out the door, Eric Holder would not miss the opportunity to demonstrate his propensity for giving hypocrisy a bad name.