The settlement amount equals "the total revenues potentially received by Reliant from the alleged gaming practice of double-selling of ancillary services".
In court papers, the firm argued that the size of the payment was justified partly by the fact that the settlement nearly equaled the maximum estimate of economic damages.
The proposed settlement -- roughly equal to two times the amount in fees that Andersen received over the last five years from Enron -- was intended to finance a government-monitored compensation fund to reimburse investors who lost large sums of money in the collapse of Enron last December.
Jews (like, for instance, Kobi Snitz, or myself) who want to tear down the barriers and create some kind of properly equal settlement hardly warrant a mention.
As a reminder, the CFPB is tasked with administering important federal statutes, including the Truth in Lending Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, Equal Credit Opportunity Act, Home Mortgage Disclosure Act, and the Electronic Fund Transfer Act, as well as new responsibilities for consumer financial protection.
Daniel J. Castleman, who was Mr. Morgenthau's chief aide until May, said the city has been aware since 2003 that the office was taking in millions of dollars in deferred-prosecution settlements and providing equal payments to the city and the state.
The S.E.C. can be expected to file civil charges, and the usual price for a settlement is a penalty equal to the benefits derived from the trading activity, plus disgorgement of any profits or benefits received.
However, there has been a spate of cases recently where trade unions have come to an equal pay settlement with the employer, only to find themselves sued by disgruntled women.
The equal pay settlement figures were released publicly for the first time as part of a report to council chiefs by auditors Grant Thornton.
