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Busted: JPMorgan inks record $13bn settlement

19.11.2013 07:36

JPMorgan Chase & Co. has agreed to the details of a $13 billion settlement for selling "bad loans" before the US financial crisis. The mortgage fraud probe by the US Justice Department has produced the biggest penalty of a financial firm in US history.

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Comments (6) Sort by: Highest rating Oldest first Newest first

 

Peter Jennings 23.11.2013 02:35

Do business with these crooks and you will ask for everything you will get. $13 billion is a drop in the ocean in consideration of what was scammed and scimmed.

A company that sets aside more for litigation than it earns? That is some business model.

 

Dot 20.11.2013 22:30

They'll just crank up the printing press and create more money out of thin air. Doesn't mean diddly squat to them.

 

Sabrina 20.11.2013 17:19

Now the banks are filthy rich with properties, mission accomplished. While millions of people all over the world don't have s...! Now Plan B, putting all those properties in Blackstone, corporately owned on Wall Street worth billions. No one is going to jail, it is all a scam of massive proportion, while the global economy sinks to the bottom of human kind. An Oligarchy globally.

 

easywind alan 19.11.2013 18:38

Where was it that read that a Vietnameese banker was sentenced to death for stealing twenty five million?
If I stepped on a grape leaving the supermarket and was charged for it I would feel more pain than these bankers.

 

David Dreyfous 19.11.2013 18:04

JPMorgan Chase & Co. should be broken up and assets sold off. It's time to get rid off the old and bring in new companies that can be monitored and held accountable. The giants of yester-year need to go ASAP.

 

Paul Standley 19.11.2013 11:49

Cost of doing crimes,send them to jail or they will not stop.

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