JPMorgan Chase Civil Settlement

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"The $13 billion civil settlement covers conduct from 2005-2007 and includes investigations of the mortgage businesses of Western Union and Bear Stearns, which were both acquired by JPM."

So we're being fined because we bought failing companies and helped save the global economy? Thanks.

JPMorgan, U.S. in tentative $13 billion settlement

Quote:

JPMorgan Chase and the Department of Justice have tentatively agreed to a $13 billion civil settlement to resolve several investigations into the bank's mortgage securities business, according to a U.S. official familiar with the negotiations.
Mortgage-backed securities and related derivatives were a key cause of the financial crisis, saddling financial institutions with losses as the housing market cratered. If completed, the settlement would be substantially larger than any law enforcement officials have secured from a single institution in connection with the crisis.

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Type: Discussion • Score: 13 • Views: 12,958 • Replies: 6

[+3] - jcboy - 10/20/2013I think the article has been updated to say Washington Mutual instead of Western Union. Poorly proofread instant published internet journalism.

@jcboy,

I think the article has been updated to say Washington Mutual instead of Western Union. Poorly proofread instant published internet journalism.

0 Replies

@jcboy,

Think of it this way, JC.

Now the US has a big chunk of change that it can use to illegally invade another poor nation, kill off a million or two innocents, rape and torture to their heart's content and help fill the pockets of America's greediest pirates.

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@jcboy,

jcboy wrote:

So we're being fined because we bought failing companies and helped save the global economy? Thanks.

Same is now happening to Bank of America.

Anyway, that's what it feels like to be demonized by intolerant Liberals who care nothing for the truth.

Maybe it's time to consider Conservatism?

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There are still 2 weeks left to get 100,000 Ultimate Rewards points when you get a Chase Sapphire Reserve card and spend $4000 in the first 3 months. The deadline is March 12 and you must apply in a branch. The online offer ended in January. The $450 annual fee is easily justified by the $300 annual travel credit, 3x points on all travel and dining, $100 towards Global Entry or TSA Pre-check, and access to airport lounges.

Oh and the card is metal so you feel extra fancy. Cool

1 Reply

@jcboy,

I could easily charge the 4K in 3 months but just don't do enough traveling or dining out. Good to see you Morgan. How are the kids and the Puerto Rican?

1 Reply

@chai2,

All are fine, the Puerto Rican is still shaving his head Razz

The kids are doing great in school and their after school activities. I can hardly keep up with them Razz

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JPMorgan Chase Civil Settlement

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