Back in July, Barclays was hit with a major lawsuit by New York Attorney General Eric Schneiderman, who alleged the bank "favored high-frequency traders in its dark pool and then lied to clients about their participation in the trading venue." It wasn't a great look for the Brits and it came at an especially awkward time for chief executive officer Antony Jenkins, who was supposed to be making the place less fraud friendly than it was under his predecessor. And while the bank has its own lawyers on payroll, who have already responded to the charges, one guy who knows from lawsuits has chosen to offer his unsolicited counsel nevertheless.
Donald Trump is looking to defeat “sleazebag” New York state AG Eric Schneiderman, and he’s taken it to the bank. The feisty developer — and possible future Buffalo Bills owner — wrote a venomous letter about Schneiderman, which On The Money has seen, to Barclays Chairman David Walker upon hearing the news that the bank was in the AG’s crosshairs. The Donald told Walker he should not settle with the “lightweight” Schneiderman [...] “I highly recommend not settling,” Trump wrote, imploring the banker not to take the tack of JPM chief Jamie Dimon, who has “settled case after case for billions, while protesting innocence.” “If he (Dimon) had fought, especially for the money he gets paid, he would be sued far less and would not be considered an easy mark,” Trump added.
Anyway, give him a call at 1-800-ESQ-UIRE if you want to talk about this further or have been injured at work or by exposure to asbestos.
Related: So You’re Saying Lying To Clients About High-Frequency Trading Wasn’t Part Of New Barclays CEO’s Turnaround Plan?; Barclays: Attorney General Not Sophisticated Enough To Understand How Our Dark Pools Work