Financial Fraud Task Force Press Conference

The establishment of the President's Financial Fraud Enforcement Task Force is announced. Attorney General Eric Holder is joined by Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC), Director of Enforcement Robert Khuzami to announce President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.

Members of the press and administration aides look on from the back of the press briefing room.

Attorney General Eric Holder "We will be relentless in our investigation of corporate and financial wrongdoing, and will not hesitate to bring charges, where appropriate, for criminal misconduct on the part of businesses and business executives." - Attorney General Eric Holder

Robert Khuzami, the Director of Enforcement at the Securities and Exchange Commission, addresses the press. Attorney General Eric Holder, Secretary of Housing and Urban Development Shawn Donovan, and Secretary of the Treasury Tim Geithner, look on as Robert Khuzami, the Director of Enforcement at the Securities and Exchange Commission addresses the press.

Treasury Secretary Tim Geithner "It'‚’s not enough to prosecute fraud only after it'‚’s become widespread. We can'‚’t wait for problems to peak before we respond. We'‚’re seeking comprehensive financial reform to create a more stable, safer financial system and stepping up our enforcement strategy. Doing so will help to stop emerging trends in financial fraud before they'‚’re able to cause extensive, system-wide damage to our economy."- Secretary Geithner

Attorney General Eric Holder "This task force’s mission is not just to hold accountable those who helped bring about the last financial meltdown, but to prevent another meltdown from happening," Attorney General Eric Holder said.