“Based on discussion drafts, the Brown-Vitter bill probably will call for 15% minimum capital for banks with assets of $400 billion or more.  There are seven of those [JPMorgan Chase , Bank of America, Citigroup, Wells Fargo, and Goldman Sachs, Morgan Stanley, and GE Capital]. The bill is apt to seek 10% minimum capital for the roughly 30 banks with assets between $50 billion and $499 billion. Banks now are required to hold roughly 3%. “

DRC, the embattled disaster-recovery company that is in the crosshairs of a sprawling federal probe, hired a firm in 2010 with close links to Municipal Court Judge Paul Sens to help it manage the construction of a $9.6 million temporary jail it was building for Orleans Parish Sheriff Marlin Gusman, according to sources familiar with the arrangement. Sens is one of Gusman’s closest friends and the brother of John Sens, the sheriff’s former purchasing director, who has pleaded guilty in a kickback and bid-rigging scheme and is now cooperating with federal authorities. The company DRC tapped for help, Crowley Consulting LLC, was founded in March of that year, just three months before the sheriff’s office hired DRC. Its lone officer is Dan Crowley, a nephew-in-law of Sens’ who doubles as a minute clerk in Sens’ court.

For more background on the Sens and Gusman saga, see this recap of Lens stories.

“A decision by the U.S. Army Corps of Engineers to send more water into the Atchafalaya Basin could be a boon for crawfishermen, and some state officials are hoping it’s a sign the federal agency might be more open to future requests to manage water levels in the massive swamp.” 

Mark Moseley

Mark Moseley blogs at Your Right Hand Thief. Until mid 2014, Mark Moseley was The Lens' opinion writer, engagement specialist and coordinator for the Charter Schools Reporting Corps. After Katrina and...