Breaking - JP Morgan Chase to pay $13B in penalties

[malaise]

http://www.usatoday.com/story/news/nation/2013/10/19/jp-morgan-justice-department-deal-settlement-13b/3052383/
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[NBachers]

1. Who's going to do some heavy time in prison?

[sheshe2]

2. Thank you, AG Eric Holder.

From the sublink...

As part of the deal, the bank will likely cooperate in criminal inquiries into certain individuals involved in the conduct at issue, the source, who declined to be identified, said.

Officials at JPMorgan and the Justice Department declined to comment.

Another source close to the discussions characterized a deal as likely, but cautioned that parts of the agreement are still being hammered out, and the settlement could conceivably fall apart.

The record settlement could help resolve many of the legal troubles the New York bank is facing. Earlier this month JPMorgan disclosed it had stockpiled $23 billion in reserves for settlements and other legal expenses to help cover the myriad investigations into its conduct before and after the financial crisis.

The deal is being hammered out by some of the most senior officials at the Department of Justice and the largest U.S. bank. Attorney General Eric Holder and JPMorgan Chief Executive Jamie Dimon spoke on the phone on Friday night to finalize the broad outlines of the broad deal, the first source said.

http://www.reuters.com/article/2013/10/19/us-jpmorgan-settlement-idUSBRE99I09020131019?feedType=RSS&feedName=topNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=992637

Thanks for posting malaise.

[malaise]

3. Someone will eventually be sent to prison - I hope it's Dimon

Progress is being made

[sheshe2]

5. Dimon in prison, yep would love to see that! nt

[Make7]

4. Who could do a better job?

Anybody.

[malaise]

6. Really?

Is that why criminal charges weren't taken off the table?

Why is M$Greedia not covering this non-stop as they should?

[spanone]

7. one can only imagine how much money they made if they've 'negotiated' their $13 billion settlement