(REPORT) — German lender Deutsche Bank "got off easy" on Friday, having reached a $7.2 billion settlement with the U.S. Department of Justice (DOJ) over sales of mortgage-backed securities that fueled the financial crisis. Of the $7.2 billion, just $3.1 billion is a cash penalty—the remaining $4.1 billion, economist Yves Smith explained at Naked
DOJ Bestows ‘Early Christmas Present’ To Financial Giant Deutsche Bank
Also announced Friday were a settlement with Credit Suisse, also over toxic debt, as well as a DOJ lawsuit against British banking giant Barclays over similar misconduct.