Chase tentatively agrees to pay US govt $13 billion in fines (for saving Bear Stearns?)

From Bloomberg | October 20, 2013

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.

The fine would be 1/2 of more than $21.2 billion that JP Morgan Chase earned last year..  Only 7 companies earned more than $13 billion in 2012 according to data compiled by Bloomberg.

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

The fine has no relation to withdrawal and wire transfer limit being mentioned at Info.wars?

Uncontrolled, US debt shoots past $17.00 trillion; Chinese redbacks soon to be the next world currency?

From News Max | October 20, 2013

                          

Uncontrolled, the US debt has risen past to $17 trillion, right after the compromise law was passed. US debt climbed by $328 billion on Thursday alone.  It stands at $17.084 trillion and steadily climbing every minute.

The US debt went up from $10.6 trillion since 2009 when Pres Obama took over.  The increase is 60%

Many are worried with this rapid increase in debt.

How could US treasury pay this?

Print more money from US Central Bank?  Is it legal?  Why the ruckus about the debt limit and next Federal Central Bank Chief?  Monetizing the debt will certainly devalue the dollar and lose its luster its international trading currency status.

News has it, and the Chinese student we have confirmed this, that the Chinese currency will soon be the international trade currency.  This is not far fetched to happen.

From Business Insider - Chinese RMB soon to be international currency reserve?)

From Forbes - Chinese currency stronger than US dollar

                               





                                                     
          

             



                                         

Prof Jorge Saguinsin

BIDDA:   BELIEVE, INSPIRE, DREAM, DO, ACHIEVE

Special Report by Akeel Dalisay - Henry Sy

Here is the special report by Akeel Dalisay on the PHL richest man:

Henry Sy (ENTREP SPECIAL REPORT) from Akeel Dalisay

The video is from a a student in high school, not Akeel's