Sunday, Mar 18th

Last update05:20:13 AM 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.


Most Recent Related Stories...

Ignoring GOP Pleas, Trump Sets Tariffs In Motion

Trump sets tariffPresident Donald Trump on Thursday set in motion tariffs that will slap fees on many imports...

27 Trump says he will impose tariffs on steel and aluminum imports 'next week'

Trump to impose steel and aluminum tariffsPresident Trump said Thursday he will soon place tariffs on steel and aluminum imports —  a move...

Trump aides defend tariffs move as Europe and China decry 'trade war'

Trump aides defend tariffs as Ueope and China decry 'trade war' White House officials fanned out on Sunday to support Donald Trump’s planned imposition of tariffs on...

Dow Jones plunges 1,000 points as inflation fears spook investors

Stock Market plunges more than 1000 points Wall Street was on Thursday heading for its toughest week in more than two years after...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!