David Dayen
2. Remember when this was going to lead to a BAILOUT of Deutsche and a run on the bank?
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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.
12. I'm rather old-fashioned, I think the penalty for a crime should benefit its victims.
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That is an old-fashioned view,
@ddayen.
I remember Google forfeited $500 million in profits in 2011 for taking illegal pharmacy ads. -
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@ddayen That $500 million didn't go to help people who got addicted to pain pills from illegal pharmacies or anything like that. -
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@ddayen The other thing about the Google settlement was that there was "no admission of wrongdoing." Like the Trump University settlement. -
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@ddayen it'll be interesting to see whether any Deutsche Bank settlement includes an "admission of wrongdoing". Companies hate to do that. -
@jhamby Almost certainly won't. The template doesn't allow for it.
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@ddayen@SupaReaper USA justice system is punitive, punishes perps. European justice system is compensatory- which works SO much better. -
@ddayen or at the very least have the penalty for a crime actually punish the criminal. -
@ddayen The Texas Supreme Court denied our rehearing even though they wrote the law being broken. Beal violated The Black Letter of the Law. -
Atrios - Deer Gutter
Jake Hamby
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Nathan Harris
JoAnn Breitling
Patrick Briggs
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