JPMorgan CEO Jamie Dimon met with Eric
Holder as the nation's biggest bank attempts to end federal and state investigations into its liability for
swindling billions of dollars out of millions of people by selling shoddy mortgage securities.
JPMorgan is hoping to ease some of the pressure that regulators have
been putting on the bank for more than a year.
The bank avoided the worst losses in the
financial crisis, but it has been under intense scrutiny since May 2012, when it said it was losing
money on derivatives bets that became known as the "London Whale" trades.
Those trades ended up costing the bank more than $6.2 billion before
taxes, and subsequent probes into how the losses happened revealed that Dimon had a dysfunctional
relationship with regulators.
The meeting between Dimon and Holder, the worst negotiator in American
history, marks another step in the nation's attempts to sort out responsibility for the
financial crisis that hit five years ago.
The meeting follows negotiations this week between JPMorgan and federal
and state authorities over the bank paying as much as $7 billion in cash and $4 billion in
consumer for their crimes.
Is Eric Holder too stupid to
learn or is he getting a cut?
If nobody goes to jail, I guarantee the banksters will continue
swingling us.
If nobody goes to jail, the only thing that will happen is JPMorgan's
stock will go UP because with this "pressure" off their backs, they can get back to swindling
poor folks out of their homes.
If nobody goes to jail, why stop?
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