by Pam Martens and Russ Martens
Wall Street on Parade
On May 2 of last year, the Chief Judge for the U.S. District Court for the Southern District of New York wrote a decision finding that the U.S. Department of Justice had outsourced a criminal investigation to the target of the investigation – Deutsche Bank – and Deutsche Bank’s outside law firm, Paul, Weiss, Rifkind, Wharton & Garrison. (Paul Weiss is a big defender of alleged crimes by Wall Street banks, particularly those of Citigroup.)
A larger, more critically important question would be: has the U.S. Department of Justice outsourced the entire U.S. Attorney’s Office for the Southern District of New York to Wall Street’s favorite law firms?
No matter how many times the New York Times tells its readers that the U.S. Attorney’s office in the Southern District of New York is known for its “independence,” the cold, hard facts on the ground keep getting in the way of that narrative.