Guiliani Joins Trump’s Legal Team

On Thursday, former New York mayor and famed prosecutor Rudi Giuliani joined President Trump’s legal team, in the hopes of bring an end to the investigation of special counsel Robert Mueller.

Guiliani said that he would like to negotiate a solution that would conclude the probe because he thinks that it would be in the best interests of the country. He also mentioned that he has high regard for both President Trump and Robert Mueller.

Jay Sekulow, who is a lawyer working on Trump’s legal team, confirmed that the mayor and former presidential candidate had joined them. John Down, who previously led Trump’s legal team in regards to the investigation, resigned a month ago. Sekulow further said that two other attorneys had joined the president’s legal team: Marty Raskin and Jane Serene Raskin.

Since Dowd left the Trump team, the team has had trouble retaining lawyers to work on the probe. In March, Ted Olson — who was the solicitor general for President George W. Bush — said that many well known Washington attorneys were steering clear of what he called both the “turmoil” and the “chaos” that he characterized as the current state of the White House.

But President Trump has denied that this is the truth. In a series of tweets, the president said that there were many lawyers who wanted to join his legal team. He further said that the problem was not that there was a shortage of lawyers, but that he was hesitant to add attorneys at this point of the investigation who were unfamiliar with the investigation.

Trump told his followers that top law firms and numerous lawyers want to represent him. He further termed the idea that he cannot find lawyers “fake news.” He said that no lawyer ever turns down what he called “fame and fortune.” Though he did admit that some attorneys were conflicted about joining his legal team. He further tweeted that he was happy with his current legal team.

Wells Fargo Faces Will Spend Billions in Legal Fees

Banking giant Wells Fargo is making shareholders and investors very nervous as its legal bills keep getting more and more exorbitant. The American bank is keeping law firms quite busy as it faces multiple legal challenges ranging from consumer fraud to improper mortgage lending practices, and the total cost of legal representation, settlements, court fees and fines could total more than $3.3 billion.

 

In a recent financial filing reported by Bloomberg, Wells Fargo indicated that it allocated $1 billion more than the previous quarter to its legal defense fund. The bank’s Chief Financial Officer has hinted that Wells Fargo will likely settle with financial regulators and aggrieved mortgage borrowers in the next few months, but there have been no indications of how much the settlement amounts may be. The bank needs to make strong investments in legal operations now for the purpose of keeping settlements as low as possible; this is a case in which a single legal misstep could put the bank out of business.

 

In July 2017, Wells Fargo estimated that it would have to pay $80 million to aggrieved account holders who were charged for auto insurance coverage that they never requested; in the financial world, this unethical practice is known as “slamming.” A November filing by Wells Fargo indicates that the bank underestimated this loss considerably since it will now have to pay $150 million; in general, each financial report issued by the bank this year has seen an increase of legal fees, a situation that shareholders are not happy with.

 

An interesting aspect of the various cases Wells Fargo is currently facing is that former executives and directors are being held personally accountable. Whereas in the past a simple dismissal of executive board members was the typical corporate reaction to major scandals, a federal district judge in San Francisco overseeing the Wells Fargo case recently determined that claims against former bank directors should face legal scrutiny in certain circumstances.