In a recent post, Kevin examined the revolving door between JPMorgan and the Department of Justice team charged with negotiating its record-breaking settlement. He concluded that the DOJ attorneys would likely be rewarded in the private sector for their roles in the JPMorgan deal, leaving democracy to foot the bill for their soft negotiations. That same …
Tag: Department of Justice
DOJ-JPMorgan settlement was negotiated by former WaMu attorney
The final terms of JPMorgan’s mortgage fraud settlement with the Department of Justice was announced yesterday. It is not all that it is cracked up to be, but that has not stopped reporters from touting the deal as a record settlement and the result of a tough negotiation. One particularly extreme example is the front …
JPMorgan negotiates through the revolving door
It is quickly becoming clear that JPMorgan’s tentative $13 billion settlement with the Department of Justice is not the massive, overly-punitive sanction that some press reports have made it out to be. The weaknesses in the deal may be explained in part by the fact that in arranging the settlement, JPMorgan was negotiating through the …