How Bill Lerach Would Claw Back Bank Bonuses

Former Clinton Administration staffer Matt Miller wrote Bill Lerach in prison and got a letter back outlining how the convicted class-action agitator would sue the banks to recover bonus loot.

And as a bonus to Obama, he’d do it for free.

Here’s part of his plan, from The Daily Beast:

“Were I free and still able to practice law, I could propose this strategy to President Obama—who, as a Harvard Law School graduate, would “get it.” And, I would have prosecuted the case on a contingent fee basis, i.e., no cost to the government; the fee, if any, to come out of a recovery—no recovery, no fee. Unfortunately, to do so one would have to find a way to get the proposal past the Wall Street alumni and sycophants who serve our new president and are creating the current “save-the-banks” strategy.”

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