“heard on Greta van Susterns show that JP made a deal with Holder and taxpayers will pay every penny of the fine. “
How does that work?
And why do they need to pay the gov? Wouldn’t it be better to pay victims restitution if they are at fault?
What happens to the $2B? Does it just go in to Holder’s slush fund?
What happens to the $2B? Does it just go in to Holder’s slush fund?
Wouldn’t surprise me.
This is generally how these ‘gimmicks’ work.
You agree to some figure....two billion. So it goes into an account, and there is an administrator. But the administrator has to hire at least twenty lawyers to handle the pay-outs. The twenty lawyers have staff members, a travel allowance, and charge by the hour. Then you need TV advertising to get people to submit for the pay-off.
You can figure around a quarter of the two billion....will go for legal costs alone, with taking at least two to four years to wrap up. Certain people will be at the head of the line, because they paid bribes to the lawyers and administrators. So the typical little guy at the bottom....gets pennies on the dollar.
If the judge simply said to pay everyone listed on some data sheet a balance of the two billion....this could be done with one lawyer, and a dozen accountants writing the checks. But that’d be too simple and not gimmick the system to help give employment to lawyers.