TV News LIES

Wednesday, Apr 16th

Last update06:54:53 PM GMT

You are here News Economy What It Costs the Worst Bank to Be Truly Evil

What It Costs the Worst Bank to Be Truly Evil

E-mail Print PDF

jpmc$16 billion. That's how much JPMorgan Chase has paid in fines, settlements and other litigation expenses in the last four years alone.

More than half of that amount, $8.5 billion, was paid out in fines and settlements as the result of illegal actions taken by bank executives.
$8.5 billion is almost 12 percent of the net income the mega-bank brought in during the same period.

These figures comes from " JPMorgan Chase: Out of Control," an impressive analysis of the bank's performance by Joshua Rosner, an investment analyst at GrahamFisher. And there's more. Since Rosner published his report only last week, JPMorgan Chase has settled another dispute.

This latest agreement is with the trustee for customers of fraudulent investment firm MF Global. The MF Global  deal included a $100 million cash payout from Chase, and an agreement to waive the $417 million in claims it had made against MF Global's clients. If you add in the full amount of this agreement, the bank has given up more than $9 billion in settlements since 2009.

Now we're over 12 percent just in payouts. Throw in all the other litigation costs and the total comes to well over 20 percent of the bank's net income in a four year period.

More...


Most Recent Related Stories...


Judge says will accept SAC Capital guilty plea

SAC guilty pleaA federal judge agreed to accept SAC Capital Advisors' guilty plea to fraud charges in the...

SEC Goldman Lawyer Says Agency Too Timid on Wall Street Misdeeds

SECA trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and...

U.S. Obama signs executive order on equal pay for women

equal pay for equal workKeeping with his promise to champion women’s rights in the workplace, President Barack Obama signed an...

U.S. stock markets are rigged, says author Michael Lewis

stock market riggedThe U.S. stock market is rigged in favor of high-speed electronic trading firms, which use their...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!