JPMorgan Chase’s legal troubles: Pay up, move on

Posted: November 20, 2013 in economy
Tags: , ,

FOR months JPMorgan Chase has been on the verge of writing a vast check to someone or something to settle claims stemming from the financial crisis. On November 19th, after a steady drip of rumours from Washington, the bank finally announced it would pay $13 billion for the sale of shoddy mortgage-backed securities, either by itself or the two banks it acquired during the financial crisis at the government’s request, Washington Mutual and Bear Stearns.

via Economic Crisis http://www.economist.com/blogs/schumpeter/2013/11/jpmorgan-chase-s-legal-troubles?fsrc=rss

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