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Within the Muslim community this settlement will be greeted with great satisfaction, particularly by those who have experienced similar treatment.
"The effect of this settlement will be catalytic," Shaun Donovan, the secretary of Housing and Urban Development, said in an interview.
But the big effect of the Del Monte opinion and this settlement will be in how banks act in the future.
"We anticipate this settlement will be the precursor of much larger ones in the future, especially with banks that face liability for participating in the scheme to defraud Enron's common shareholders," Mr. Lerach said in the statement.
The watchdog group Better Markets estimates that as much as half of this settlement will be tax deductible - meaning that taxpayers will once again foot the bill for Goldman Sachs fraud.
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Details of the settlement will be announced this week, the Environmental Protection Agency said.
Traders often may not be satisfied with this process, as problem resolution requires time, effort and risk that the settlement will be unsatisfactory.
If those items are not completed by Aug. 4, the settlement will be void.
Stuhldreher estimated 70% of the settlement will be paid by the end of next February.
(A portion of the settlement will be paid in the form of Gristedes coupons).
The money in the settlement will be distributed among Washington Mutual's creditors.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com