AG Holder's Departure Could Signal End of Mortgage Litigation

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Holder's Departure Could Signal End of Big Mortgage Cases

Quote:Today's resignation of Attorney General Eric Holder could mark the beginning of the end of the Justice Department’s push to hold big banks accountable for their conduct leading up to the financial crisis.

Several big banks, including Goldman Sachs and Wells Fargo, are still under investigations by the Justice Department for their sale of flawed mortgage securities before 2008, but settlements in those cases are expected to be much smaller than the big sums extracted from Bank of America, JP Morgan Chase and Citigroup.

Another sign that the big bank cases may be winding down: Tony West, who was Holder’s point man in the bank settlement talks, recently left the Justice Department to join PepsiCo as its general counsel.

Bullish for the "too-big-to-fails"? Unless a even more anti-WS AG steps up and slaps the remaining two banks with large fines.

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