It is odd that JP Morgan should face such a litigation. It acquired Bear Stearns which committed the felony, in order to stave off a financial crisis in 2008 It was a compassionate and kind act, and now JP the acquiring company must suffer
Monday, October 21, 2013
Chase tentatively agrees to pay US govt $13 billion in fines (for saving Bear Stearns?)
JP Morgan Chase agreed to an unprecedented $13 billion in fines for allegedly being engaged in selling toxic mortgage securities during the 2008 financial crisis. It was raised from $11 billion. In the meantime, the criminal liability shall remain unresolved.
JP Morgan President Jaime Dimon personally discussed the deal with US Attorney General Eric Holder.It is odd that JP Morgan should face such a litigation. It acquired Bear Stearns which committed the felony, in order to stave off a financial crisis in 2008 It was a compassionate and kind act, and now JP the acquiring company must suffer
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