On Fox, Charles Gasparino and Stuart Varney discussed the $16.7 billion settlement between the Justice Department and Bank of America for selling “shoddy home loans,” as Varney put it. But then the two made out like the Justice Department was the real criminal.

"I say it was a shakedown!" Varney began. Later, he questioned why Bank of America agreed to it.

Gasparino said, “Why do people not rat on the mafia when they’re shaking them down? The Justice Department is like the mafia here. Listen, Jamie Diamond has made that same comment. Why didn’t he fight? …When the Justice Department’s coming after you and you’re a heavily regulated industry, they’re like the mafia, they will screw you every which way. …You can’t fight them.”

Later, without proof, Gasparino added, “If the Presidential election was going on right now, you would see many more banks being indicted.”

Varney gave Gasparino the stamp of approval “Charlie Gasparino, you got it right.”

The New York Times has a more sober analysis of the settlement, geared for people who don't have an axe to grind with the Obama administration.

Watch the discussion below, via Media Matters.