Catching up with a fired federal worker, a shrimper and a fraudster

Summary

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The Indicator from Planet Money

Episode: Catching up with a fired federal worker, a shrimper and a fraudster
Date: December 18, 2025
Hosts: Darren Woods, Waylon Wong, Stephen Basaha

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Episode Overview

This “rest of the story” episode revisits three individuals featured in previous economic stories in 2025: a federal worker fired amid government cuts, a Louisiana shrimp fisherman relying on tariffs, and a convicted tech startup fraudster. The hosts check in to see how these real people have weathered the whirlwind changes in government, trade, and legal affairs through a year of dramatic economic news.

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Key Discussion Points & Insights

1. Catch-Up: Fired Federal Worker / Elizabeth Eniskevich

(Segment begins at 02:26)

• Backdrop: In early 2025, sweeping cuts (“Elon Musk’s chainsaw”) hit government agencies, including the Consumer Financial Protection Bureau (CFPB).
• Elizabeth Eniskevich’s Story:
  • Suddenly fired—learned via a computer lockout while working at the CFPB, an agency protecting consumers in finance.

    “My work phone and computer sort of make a doo doo type of sound and says, oh, you’ve been kicked out, you need to log back in.” (Elizabeth Eniskevich, 02:42)

  • Recruited by a former law school colleague into a law firm specializing in consumer class action against big financial companies.

    “The kinds of interviews that she was doing with media, including the indicator, actually helped her through the recruitment.” (Darren Woods, 03:35)

  • Now leads a team in her new role—a promotion.
  • Emotional aftermath: Sorrow over the rollback of consumer protections as CFPB faces widespread gutting, even possible elimination. The former team remains connected and determined:

    “On group chats, you can smash the bureau, but we’re all going to find each other outside of it. We’re in constant communication about how can we attack this from our new position.” (Elizabeth Eniskevich, 04:29)

2. Update: Shrimper and Tariff Supporter / A.C. Cooper

(Segment begins at 04:40)

• Backdrop: Dramatic rise in tariffs under President Trump, targeting imported goods like shrimp to protect U.S. producers.
• A.C. Cooper’s Experience:
  • Vocal supporter of Trump’s tariffs, hoping they’d rescue domestic shrimpers from foreign competition:

    “Oh, we jumping…we definitely support him 100% on this issue.” (A.C. Cooper, 05:00)

  • Reality: Foreign competitors (e.g., India and Vietnam) “flooded” the U.S. market before tariffs went into effect, tanking domestic shrimp prices.

    “The thing is that they dumped so many in here before the tariffs went into effect…[shrimp prices] went down a good bit.” (A.C. Cooper, 05:40, 05:52)

  • Now: Prices are rebounding, more than a third higher than last year; still optimistic about tariffs, even if they make things like boat repairs pricier.
  • Message to fellow shrimpers and policymakers: Stay patient. Belief that tariffs will work in time, unless blocked by a pending Supreme Court decision.

    “He’s only been in there a year. Give it a little time…we still back him 100% and think that it’s going to turn out for the best.” (A.C. Cooper, 06:21)

3. Update: Tech Startup Fraud / Charlie Javice and Frank

(Segment begins at 06:48)

• Backdrop: In 2021, JP Morgan acquired student-aid startup Frank for $175 million. In 2023, Frank’s founder Charlie Javice was charged with fraud for allegedly inflating customer numbers.
• What’s Happened Since:
  • In 2025, Charlie Javice was convicted and sentenced to 85 months in prison.
  • JP Morgan, due to a contract clause, is compelled to cover not only her but also another executive’s legal fees—costing the bank $128 million (almost as much as the acquisition price).

    “According to Bloomberg, this is costing JP Morgan $128 million, which is almost as much as JP Morgan paid to acquire this startup in the first place.” (Stephen Basaha, 08:16)

  • Some reimbursed “legal” expenses raise eyebrows, including luxury hotel upgrades and “cellulite butter.”

    “According to the Wall Street Journal, JP Morgan’s lawyers say the bank got billed for…expenses that don’t seem like legal fees at all. Like luxury hotel upgrades and something called cellulite butter.” (Stephen Basaha, 08:54)

  • Javice plans to appeal her conviction, while JP Morgan tries to avoid paying future legal bills.
  • Notable moment of levity:

    “My big update is: fraud still illegal? [laughs]” (Stephen Basaha, 06:54)

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Notable Quotes & Memorable Moments

• On Whiplash Economic News:

  “It’s always just tariffs, tariffs, tariffs, tariffs.” (Stephen Basaha, 00:36)
  —The relentless pace and repetition of economics stories in 2025.

• On Bureaucratic Camaraderie After Layoffs:

  “On group chats, you can smash the bureau, but we’re all going to find each other outside of it.” (Elizabeth Eniskevich, 04:29)

• On Shrimpers Coping with Tariff Aftershocks:

  “We don’t mind paying a little more if we make a little more. It’s just part of the nature of the visa.” (A.C. Cooper, 06:13)

• Hosts’ Quick Humor:

  “I mean, he’s a shrimp, he’s used to some waves.” (Waylon Wong, 05:57)
  “I was gonna order cellulite butter.” (Stephen Basaha, 10:02)
  “And I have no food related things in my segment.” (Darren Woods, 10:05)

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Timestamps for Important Segments

• 02:26 – Catch-up with Elizabeth Eniskevich: Getting fired from CFPB and her new career path
• 04:40 – Update with shrimper A.C. Cooper: Tariffs’ effect and market turbulence
• 06:48 – Tech fraud follow-up: Charlie Javice’s conviction and JP Morgan’s costly lesson

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Summary Takeaway

This “rest of the story” episode illustrates how waves of 2025’s economic policy changes—government cuts, protectionist tariffs, and the aftermath of a high-profile tech fraud—continue to ripple through people’s lives. Job loss doesn’t always mean professional ruin; industries battered by global trade policies experience delayed and unpredictable effects; and even billion-dollar banks can fall victim to fine print and costly legal battles. The hosts weave in their hallmark blend of wit and approachable economic insight, revealing a year where the personal and the macroeconomic remained tightly—sometimes chaotically—linked.

Transcript

[Narrator/Ad Reader]

Npr.

[Darren Woods]

This is the Indicator from Planet Money. I'm Darren woods here with Waylon Wong and Stephen Basaha and we've been reflecting on how 2025 has been a little unusual for us at the podcast. There has been such a fire hose of economics news every single day that we've just been racing from government cuts to historic tariff announcements to unprecedented AI deals.

[Stephen Basaha]

Yeah, we don't need to pitch new story ideas anymore. It's always just tariffs, tariffs, tariffs, tariffs.

[Waylon Wong]

All the way down.

[Darren Woods]

I know. And just explaining what just happened, how this fits into the economy. What a 50 year mortgages. That's basically what we've been doing.

[Stephen Basaha]

And because events have been moving so fast, we wanted to check in with some people we've met through this wild ride through the economy. Like after we got off the phone with them. How have they been doing?

[Waylon Wong]

Yeah. So today's show, it is a special one. It's rest of the story from the Indicator. We meet up again with a woman fired by Doge, see how a pro tariff shrimpers business has been going and learn about the consequences of a pretty brazen tech startup's fraud.

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[Darren Woods]

Back at the start of the year, Doge was the huge story. Elon Musk's chainsaw was ripping into government agencies, firing people en masse. One of those people was Elizabeth Eniskevich at the Consumer Financial Protection Bureau. The cfpb.

[Elizabeth Eniskevich]

My work phone and computer sort of make a doo doo type of sound and says, oh, you've been kicked out, you need to log back in. So I'm thinking, oh no, something back has happened.

[Darren Woods]

This is from our story back in February where we learnt about how Elizabeth was fired from the cfpb. That's an agency that tries to protect customers of banks and financial services from getting ripped off.

[Stephen Basaha]

Yeah, I remember you said that as a high performing attorney, she would be fine job wise, probably. So was she.

[Darren Woods]

Yeah. Waylon, I had that exact question. Hello again.

[Sponsor/Ad Voice]

Hi.

[Darren Woods]

Nice to see you. It's been months.

[Waylon Wong]

It feels like it's been a decade.

[Elizabeth Eniskevich]

Yeah. So shortly after our interview, a former law school colleague of mine who saw what was happening and she said, you know, I'm really sorry to hear what's happened to you. I'm wondering if you would be interested in joining my firm.

[Darren Woods]

That firm does consumer class action lawsuits against big financial companies. So it was actually a very good match with the kind of work the CFPB does. And Elizabeth says that the kinds of interviews that she was doing with media, including the indicator, actually helped her through the recruitment.

[Elizabeth Eniskevich]

100%, I think it did, yeah.

[Stephen Basaha]

So we were inadvertent corporate recruiters. Do we get a bonus?

[Waylon Wong]

Maybe 800ft.

[Sponsor/Ad Voice]

Yeah.

[Darren Woods]

So she got the job, which was actually a promotion. She leads a team now and she's very happy with what she's doing. The only dark cloud for Elizabeth is that she's sad about what's happening with the cfpb. The Trump administration has dropped the majority of its enforcement actions. Director of the Office of Management and Budget Russell Vogt is trying to end the agency completely, but this is facing legal action. Elizabeth says she still stays in touch with all her old colleagues.

[Elizabeth Eniskevich]

On group chats, you can smash the bureau, but we're all going to find each other outside of it. We're in constant communication about how can we attack this from our new position.

[Darren Woods]

Yes, Elizabeth was pretty unhappy with events earlier in the year, even though it led to pretty good position for her. Stephen, you talked to somebody who felt like he was a real winner from the government changes. Yeah.

[Waylon Wong]

At least he was hoping that he was gonna be. I wanted to catch up with someone who earlier this year was all in on President Donald Trump's tariffs.

[A.C. Cooper]

Oh, we jumping, you know, we definitely support him. There's no doubt we support him 100% on this issue.

[Waylon Wong]

That was A.C. cooper in April and he fishes for shrimp out of Louisiana. And he said, for years, foreign shrimp have flooded the US market and forced many American shrimpers out of business. We spoke not long after Trump's big tariff and AC was happy to see tariffs on countries like India and Vietnam and hoped that would lead to fewer shrimp Imports.

[Darren Woods]

Right. Less competition. And so did that happen?

[Waylon Wong]

Well, you know, there were some initial growing pains there. I called AC back up recently, and he said shrimp imports to the US Actually went up.

[A.C. Cooper]

The thing is that they dumped so many in here before the tariffs went into effect that they knew what was coming and they just flooded our country with shrimp.

[Waylon Wong]

And when they flooded the market, did that plummet the price of shrimp?

[A.C. Cooper]

Yes, it went down a good bit.

[Stephen Basaha]

It's kind of a wild ride for AC this year.

[Waylon Wong]

I mean, he's a shrimp, he's used to some waves.

[Stephen Basaha]

Okay.

[Waylon Wong]

But he did say, you know, prices have since started climbing back up, like, more than a third higher than they were last year, and he's still all in on tariffs, even if it's leading to him paying more elsewhere, like, you know, repairs for his boat.

[A.C. Cooper]

We don't mind paying a little more if we make a little more. It's just part of the nature of the visa.

[Waylon Wong]

AC's big message here on tariffs is be patient.

[A.C. Cooper]

He's only been in there a year. Give it a little time. And, you know, we still back him 100% and think that it's going to turn out for the best.

[Waylon Wong]

Yeah. And shrimp imports into this country, they're starting to slow down, which is what AC wants to really drive up that price. He's hoping next year tariffs will really help turn around US shrimping. His one concern, though, is if the Supreme Court declares some of Trump's tariffs illegal before they can really help. As of this recording, there's been no decision yet.

[Stephen Basaha]

Okay, so maybe we don't know for sure whether the tariffs are legal, but you know what is definitely super illegal.

[Darren Woods]

I think based on your segments. Fraud.

[Stephen Basaha]

Yes, fraud. Okay, My big update is fraud still illegal? I think so. I thought they legalized that. I was too busy covering AI. Okay, so I have an update that is almost three years in the making, and it involves a startup founder who was charged with fraud in 2023. And we did an episode back then about this case. The company was called Frank. Do you remember this, Darian?

[Darren Woods]

I think it has something to do with student loans. Is that right?

[Stephen Basaha]

Yeah. Yeah. So, for background, Frank was a company founded by an entrepreneur named Charlie Javice. Her startup helped people fill out financial aid paperwork for college.

[Narrator/Ad Reader]

So.

[Stephen Basaha]

Good memory, Darian. JP Morgan acquired Frank in 2021 for $175 million in. But then the bank learned that Charlie Device had dramatically inflated the number of customers she had. So she went on trial this year and she was convicted on fraud. Charges and sentenced to 85 months in prison.

[Darren Woods]

I can imagine the starting in the schoolyard of like, inflating them of friends she thought said she had. Oh, no, imaginary friends and contacts on Facebook that were actually bots. Her origin story just getting worse and worse.

[Stephen Basaha]

You're like writing a whole screenplay. I love it.

[Waylon Wong]

And before you, like, you know, finish up that screenplay, it sounds like this is not the end of the saga, right?

[Stephen Basaha]

No, because listen to this. In the acquisition deal, Charlie Javiz had a clause that JP Morgan would pay her legal fees, you know, in case the deal fell through. And that deal has been applied to her legal fees plus those of another startup executive in this fraud case. According to Bloomberg, this is costing JP Morgan $128 million, which is almost as much as JP Morgan paid to acquire this startup in the.

[A.C. Cooper]

Whoa.

[Darren Woods]

So maybe if they just said like, okay, let's just forget this ever happened, we could have saved a lot of court time, lawyers fees, and JP Morgan would have been no worse off. Really.

[Stephen Basaha]

I mean, and like, she did hire some high profile legal counsel, but it wasn't just, you know, paying the hourly fees or whatever for the lawyers. According to the Wall Street Journal, J.P. morgan's lawyers say the bank got billed for all these expenses. Expenses that don't seem like legal fees at all. Like luxury hotel upgrades and something called cellulite butter. That's a skincare product.

[Waylon Wong]

Cellulite butter. I could assure. I saw this like a New York Times headline where it's like they had to pay her like lunch. I don't think cellulite butter is part of. It was like lunch charges.

[Stephen Basaha]

You don't eat it, Steven. You put it on your stretch marks. A spokesman for Charlie Javice told the New York Times that the stuff about the hotels and the skincare was a ridiculous allegation. Meanwhile, JP Morgan is trying to get out of paying her legal bills and Charlie Javice is planning to appeal her conviction.

[Darren Woods]

So we're gonna need a rest of the story for your rest of the story.

[Stephen Basaha]

I hope so.

[Darren Woods]

Wow. So a case study in why we need to keep following these stories. Thanks to both of you for contributing to this rest of the story episode.

[Waylon Wong]

Thanks, Darian. I'm go order some shrimp before it gets more expensive again.

[Stephen Basaha]

Oh, I was gonna order cellulite butter.

[Darren Woods]

And I. And I have no food related things in my segment.

[Waylon Wong]

Oh, Darian's starving over there.

[Darren Woods]

This episode was produced by Julia Ritchie and Angel Carreras with engineering by Jimmy Keeley. It was fact checked by Cierra Juarez, Cake and Cannon edits the show and the Indicator is a production of npr. Hey, it's Darren woods here. I just want to take a moment to talk about the vital role of public media. It was founded to provide news and information to everybody for free, regardless of anybody's ability to pay. We still believe in the mission of public media at npr, but as of this fall, federal funding for public media, including NPR and local NPR stations, has been eliminated. Despite that, we remain committed to this work to go beyond the headlines to show you how the economy affects your life. Just this year we've done a bunch of big series on how batteries are changing the electric grid, on the business of crime and the changing economics of Hollywood in 2026. With your help, we can do even more. Thank you if you already go the extra mile as an NPR supporter. If not, you can join the PLUS community, get a bunch of perks like bonus episodes from across NPR's podcasts, and support public media by signing up for NPR Today. Just go to plus.npr.org this message comes.

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