David Dayen
1. Hey remember when DoJ blustered that Deutsche Bank was going to pay 14 BILLION DOLLARS for mortgage bond abuses & everyone freaked out?
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9. The worst part is that DoJ has changed norms (not just Trump) by turning these dumb settlements into a substitute for accountability.
10. You sprinkle a small fine w/"help for homeowners" (which doesn't reach them to the degree promised), hold a press conference & smile
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11. BTW this was a case where investors were lied to about quality of mortgages in bonds. Do they see any restitution here? No.
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12. I'm rather old-fashioned, I think the penalty for a crime should benefit its victims.
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13. The Obama DoJ has transformed a law enforcement agency into a debt collector. It's a sad legacy.
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@ddayen w'ell be properly outraged by all of this in a month -
@Atrios Bush's Justice Dept was better on this stuff. Not inconceivable the next one will be too. - Show more
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@ddayen Doesn't a lot of this "helkp for homeowners" just go to political groups ?http://blogs.wsj.com/moneybeat/2014/11/25/republicans-question-dojs-choice-of-activist-groups-in-bank-settlements/ … -
@rohitguptahpf kind of a BS claim (housing counselors do help and it's a tiny fraction of the overall penalty). But only kind of.
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@ddayen but just imagine how many more fatcat filet mignon dinners can be booked by@PamBondi's#HardestHit crew! -
@ddayen It was S.O.P. for the Obama DoJ. Of course, saying so got one accused of being (somehow) a Republican or GOP-enabler &c.
Atrios - Deer Gutter
Rohit Gupta 
jody young
GrkStav
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