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​JPMorgan, Morgan Stanley fined $1.8 bn for concealing pre-crisis mortgage risk

05.02.2014 06:44

Morgan Stanley has agreed to pay $1.25 billion to the US government, and JPMorgan has been fined $614 million as a penalty for concealing the full risk associated with mortgage securities.

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Comments (10) Sort by: Highest rating Oldest first Newest first

 

aikeila 08.02.2014 08:06

A slap on the wrist and business as usual.

 

Occupy Las Vegas 06.02.2014 15:05

They put the world economy at risk.

 

Tony 06.02.2014 08:31

Fines are irrelevant to JP Morgan. They have direct access to the US Treasury at zero [0] costs. Fines do not deter an organization like this. Arrests, trials, and judgment at trial are necessary. Seizing the assets of this organization is also necessary. Fines doled out all day are ineffective deterrence to JP Morgan committing fraud. Prison and asset seizure; that's the ticket. Time to punch these bankers ticket.

 

Davis-Guess Wendy 06.02.2014 06:37

US Government does not seem to mind unleashing predatory lenders onto their citizens. It has been ~years~ of profits. I am sure they factored in the fines and lawsuits from the beginning. Shysters, frauds, incompetents and lowers are running the show. No wonder we are where we are.

 

Peter 06.02.2014 02:47

What would you have to do before you are closed down?

 

Rich Beer 06.02.2014 00:41

Is this what was behind the rash of high level suicides in the world of finance?

 

Enlightened 05.02.2014 22:31

I am amazed this old news went public. Usually, this type of truth is thoroughly buried so the rich banks can get away with it.

Google JP Morgan 1913 and Federal Reserve (which was voted in when over half of politicians were on holiday vacation).

 

Peter Jennings 05.02.2014 18:48

Forget with the fines already and make with the jail sentences.

The only way to stop them is to put them someplace away from computers, phones and restaurants.

 

M Gjerdrum 05.02.2014 15:04

Chump change. They have destroyed the US economy forever......they ought to be tried for international fraud.....caused entire nations to go bankrupt. $1.8 billion? What a nasty joke on other nations and every decent individual who tried to play by the rules. They ought to be tried and executed in the world court for economic genocide.

 

Hansel 05.02.2014 13:15

Any of these crimes committed, usually result in punishment for any "common" citizen". Paying their way out just demonstrates the degree of corruption that rules this country. Pathetic and shameful.

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