NYT: Justice Dept. Sets Record In Penalties For Fraud
The Justice Department collected a record $24.7 billion in penalties from fraud and other cases in the 2014 fiscal year, the agency said on Wednesday, as fines against banks for financial misconduct soared. Collections from civil and criminal actions, including money collected on behalf of other agencies, was $8 billion in 2013, and $13 billion in 2012. Collections in 2014 were bolstered by multibillion-dollar payouts from JPMorgan Chase and Citigroup to resolve claims they misled investors about the quality of mortgage bonds in the run-up to the financial crisis, and include $11 billion in payments made to federal agencies or states. Payouts in the 2014 fiscal year, which ended Sept. 30, also include hundreds of millions of dollars in fines levied on UBS and Royal Bank of Scotland.
Washington Post (March 2006): Off the Record, Bush Makes Media Inroads …. As he defends his Iraq policy with a public campaign of speeches and a recent news conference, President Bush also has been waging a private campaign that has included off-the-record sessions with White House reporters….
One gathering, which took place Thursday in the White House residence, was an unusual gesture by Bush, who has agreed to comparatively few lengthy exchanges with reporters during his five years in office….
Last week’s session involved reporters from several prominent broadcast and print outlets, including ABC News and The Washington Post. Under the off-the-record ground rules, the journalists were barred from reporting what was discussed. White House officials said they also hoped the meetings’ mere existence would remain under wraps….
Joe Conason (National Memo): …. The notion that Barack Obama is “Nixonian” – or that his administration’s recent troubles bear any resemblance to “Watergate” – is the biggest media lie since the phony “Whitewater scandal” crested during the Clinton presidency.
…. Only in a country afflicted with chronic historical amnesia could they issue such accusations without shame or embarrassment. Only under those circumstances could the Republicans continue their fitful fabrication of a “Democratic Watergate” without fear of being laughed off the stage….
…. But certain liberals in the media have fretted loudly over Obama’s “scandals,” too ….. is it all just trumped-up hysteria? To answer those questions, it helps to remember what Nixon and his gang actually did to America – and why they were driven out of Washington and, in many cases, sent to prison….
Steve Benen: Student loans reclaim center stage ….. President Obama will deliver remarks, flanked by college students, on a subject that too often goes overlooked: student loans. With a looming interest rate hike, the president will reportedly “call on Congress to help keep college affordable for middle-class families and students by preventing student loan interest rates from doubling on July 1.”
…. House Republicans say they’ve already passed a bill on this, which is true. They also say their bill is worthwhile and consistent with White House demands, which is not true…..
Bloomberg: Euro-area unemployment increased to a record in April after the currency bloc’s recession deepened in the first quarter, increasing pressure on its leaders and the European Central Bank to spur economic growth.
The euro-area jobless rate rose to 12.2 percent from 12.1 percent in March…. to 19.38 million in April, up 95,000 from the previous month. Youth unemployment was at 24.4 percent …. Spain had the highest rate at 26.8 percent. No April data were available for Greece, which had a 27 percent rate in February.