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Looks Like DOJ Is A-OK With T-Mobile/MetroPCS Merger

The proposed marriage of underdog T-Mobile and upstart MetroPCS is one step closer to the altar today, as the Justice Dept. was given the chance to speak out against the merger but appears to have decided to forever hold its peace. [More]

If the settlement is approved, MacMillan will no longer be able to set its own retail price for e-books.

MacMillan Agrees To Refund $20 Million Over E-Book Price-Fixing Claims

And another one bites the dust. After refusing to join in an earlier settlement with three other publishers accused of colluding with Apple to fix prices on e-books, the folks at publishing biggie MacMillan have decided to settle with the U.S. Dept. of Justice for $20 million. [More]

(digitizedchaos)

Senators Call Out Attorney General For Treating Banks Like They Are “Too Big To Jail”

Like many Americans, Senators Charles Grassley (Iowa) and Sherrod Brown (Ohio) think federal investigators have given banks a mere slap on the wrists for their part in the economic collapse and other misdeeds. So in a letter to U.S. Attorney General Eric Holder, the pair wonder if banks are being viewed by the DOJ as “too big to jail.” [More]

Frontline's "The Untouchables" investigates the lack of criminal prosecutions against Wall Street.

Interview: Frontline’s Martin Smith Talks About The DOJ’s Failure To Prosecute Wall Street

Last week, PBS’ Frontline dedicated an entire hour to the Justice Dept.’s failure to prosecute a single high-ranking bank executive involved in the financial crisis of 2008. Consumerist recently got the chance to discuss the topic with the show’s producer/writer Martin Smith. [More]

Assistant Attorney General Lanny Breuer has been accused by some of being overly fearful of prosecuting big banks.

Report: Asst. Atty. General Who Shied Away From Wall Street Prosecutions To Step Down

Less than 24 hours after his appearance on PBS’ Frontline, where he struggled to explain why his office had brought not one single indictment against a high-level Wall Street executive related to the 2008 financial crisis, Assistant Attorney General Lanny Breuer has reportedly decided to step down. [More]

The Morgan Stanley exec who came up with this list of names is now working for JPMorgan Chase.

‘Nuclear Holocaust’ & ‘Sh!tBag’ Among Clever Names Morgan Stanley Bankers Gave To Toxic Mortgage-Backed Security

Federal prosecutor Lanny Breuer insists he has yet to find enough evidence to bring an indictment against a single Wall Street executive over the 2008 mortgage meltdown, yet lawyers in private lawsuits against the banks continue to turn up some gems — like this one from the Morgan Stanley e-mail vault. [More]

Assistant Attorney General Lanny Breuer has been accused by some of being overly fearful of prosecuting big banks.

10 Highlights From Frontline Report On Why No Wall Street Execs Are In Jail Over Mortgage Mess

Last night, PBS’ Frontline looked at a question many Americans have asked — Why have no top Wall Street executives been prosecuted for their part in the 2008 financial crisis? — and took it right to man at the Justice Dept. who isn’t bringing those charges. [More]

DOJ Tweaks Verizon Deal To Buy Spectrum From Cable Companies So Consumers Still Have A Few Choices

DOJ Tweaks Verizon Deal To Buy Spectrum From Cable Companies So Consumers Still Have A Few Choices

As we wrote earlier this month, Verizon Wireless’ proposed purchase of billions of dollars worth of wireless spectrum from Comcast, Time Warner Cable and other cable companies that aren’t using it anyway, could result in fewer cable and Internet provider options for American consumers. Well, it looks like the Dept. of Justice was listening to at least some of the concerned voices, as it has given its approval to the deal — but not without some significant changes. [More]

Wells Fargo Receives $175 Million Slap On Wrist Over Discriminatory Loan Allegations

Wells Fargo Receives $175 Million Slap On Wrist Over Discriminatory Loan Allegations

Three years after it began looking into allegations that Wells Fargo had systematically discriminated against minority loan applicants by pushing them into risky, high-cost subprime loans — regardless of their qualifications — the U.S. Dept. of Justice has come to a $175 million settlement with the bank. [More]

Judge Cites Steve Jobs' Own Words In Refusing Dismissal Of E-Book Suit

Judge Cites Steve Jobs' Own Words In Refusing Dismissal Of E-Book Suit

Apple co-founder Steve Jobs’ words came back to haunt the electronics company today. Its attempt to have a judge dismiss charges of e-book price-fixing were refused, in part because of things Jobs said during his time with Apple. [More]

Wells Fargo Prepping For Possible Racial Discrimination Lawsuit

Wells Fargo Prepping For Possible Racial Discrimination Lawsuit

Though it hasn’t been formally accused of anything by the government, Wells Fargo let it be known in a filing with the Securities & Exchange Commission that the Justice Dept. may soon be alleging the bank was involved in discriminating against minority mortgage applicants. [More]

Apple Willing To Stand Trial On E-Book Price-Fixing Allegations

Apple Willing To Stand Trial On E-Book Price-Fixing Allegations

Even though three of the publishers accused of colluding with Apple to fix prices on e-books have already settled with the Dept. of Justice, the electronics giant continues to assert its innocence and wants the opportunity to answer the charges in court. [More]

DOJ Agrees On E-Book Price-Fixing Settlement With Three Publishers

DOJ Agrees On E-Book Price-Fixing Settlement With Three Publishers

Only hours after filing suit against Apple and six book publishers over allegations of e-book price-fixing, the Justice Dept. said has agreed on settlement terms with three of those publishing companies — HarperCollins, Simon & Schuster, and Hachette. [More]

DOJ Reportedly Close To Deal That Would Lower E-Book Prices

DOJ Reportedly Close To Deal That Would Lower E-Book Prices

Ever since Apple got into the e-book business, publishers have been determining their own prices for titles, meaning that e-books, in spite of having minimal overhead costs, are often sold for higher prices than their print counterparts. But it looks like the Justice Dept. antitrust investigation into this so-called “agency pricing” model is nearing an end — and may result in more affordable e-books for everyone. [More]

DOJ: AT&T Billed U.S. Gov't For Around $15 Million In Fraudulent Calls

DOJ: AT&T Billed U.S. Gov't For Around $15 Million In Fraudulent Calls

The Dept. of Justice has filed a lawsuit against AT&T, alleging that the telecom giant billed the U.S. government for millions of dollars related to phone services intended to be used by hearing-impaired callers. [More]

How Much Have The Big Banks Been Penalized Over Mortgage Mess And Where Is All That Cash Going?

How Much Have The Big Banks Been Penalized Over Mortgage Mess And Where Is All That Cash Going?

The last few years have seen numerous settlements between the nation’s biggest mortgage lenders and various federal and state authorities. And while we hear numbers like “a total of $25 billion,” exactly which banks are responsible for the biggest chunks of these settlements? [More]

DOJ Reportedly Prepping Criminal Charges Against BP

DOJ Reportedly Prepping Criminal Charges Against BP

More than a year and a half after the disastrous collapse of the BP-operated Deepwater Horizon drilling rig in the Gulf of Mexico, it looks like someone may finally be held accountable for the accident, as federal prosecutors are reportedly preparing to file criminal charges against the oil company and perhaps some individual employees. [More]

DOJ Settles With BofA For $335 Million Over Countrywide Pushing Minorities Into Subprime Loans

DOJ Settles With BofA For $335 Million Over Countrywide Pushing Minorities Into Subprime Loans

Nearly four years ago, we first reported on allegations that Countrywide Financial, the failed lender that was bought by Bank of America after it collapsed, had their system set up so that non-white loan applicants were steered toward subprime loans, even if they could have qualified for a standard mortgage. Well, the wheels of justice turn remarkably slowly in Washington, DC, but today the Justice Dept. finally announced a settlement with BofA for $335 million over these allegations. [More]