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?
-
10. You sprinkle a small fine w/"help for homeowners" (which doesn't reach them to the degree promised), hold a press conference & smile
11. BTW this was a case where investors were lied to about quality of mortgages in bonds. Do they see any restitution here? No.
-
-
12. I'm rather old-fashioned, I think the penalty for a crime should benefit its victims.
-
13. The Obama DoJ has transformed a law enforcement agency into a debt collector. It's a sad legacy.
-
@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
-
-
-
@ddayen Doesn't benefit to homeowners make bondholders even WORSE off?
-
-
-
@ddayen the victims were GSEs and a bunch of hedges / InsCos that already sued in their own name. Restitution's not the point of a crim fine -
@ddayen all of the banks have paid billions in settlements to private plaintiffs, Nomura got hit with a 700m+ civil verdict... -
@ddayen the criminal settlements are a very very small part of this story.
-
Atrios - Deer Gutter
QuAmerican
MHendi
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.