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Calling the Federal Deposit Insurance Corp. "more of a cosa nostra than res publica," U.S. District Judge Lynn Hughes of Houston issued a ruling on Tuesday ordering the FDIC to pay Maxxam Inc. more than $72 million in sanctions for legal and other expenses in a 10-year legal battle with the agency. "They will recover their costs because the record reveals corrupt individuals within a corrupt agency with corrupt influences on it, bringing this litigation," Hughes wrote.
August 25, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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