The delay in bringing the case cost tens of billions of potential exposure for JPMorgan Chase. And more than anything, the lack of federal participation in the suit shows that the federal agencies involved in the task force are simply disinterested in prosecution, forcing Schneiderman to cobble together an off-the-shelf suit from other sources to make it look like this move against the banks represents anything real. The timing, one month before voters go to the polls in the Presidential election, is similarly obvious.
|By: David Dayen Tuesday October 2, 2012 6:10 am|
|By: David Dayen Friday March 2, 2012 9:55 am|
I want to turn back to Phil Angelides’ op-ed in the New York Times this morning, because in addition to making the case for bank accountability as a deterrent to future crimes, he says that the relevant authorities have had smoking gun evidence in their hands for two years.
|By: David Dayen Friday September 2, 2011 7:48 am|
Ed DeMarco, the only Bush Administration holdover in the entire Obama economic/housing team, is pursuing prosecution against the banks over their mortgage bonds. Tim Geithner “began looking for ways to fire DeMarco” a few months ago.
|By: masaccio Sunday May 15, 2011 10:40 am|
Preet Bharara makes the world safe for hedge fund traders. The rest of you can go hang.
|By: David Dayen Tuesday January 25, 2011 4:00 pm|
Shahien Nasiripour reports that the Financial Crisis Inquiry Commission will forward multiple individuals responsible for the financial meltdown to state and local authorities for potential criminal prosecution, in accord with the imminent release of their report. If we wanted to understand why Republicans on the commission suddenly begged off the report a month or so ago, this could be the reason.