JPMorgan reportedly to pay minimum $750M in Whale fines

JPMorgan (JPM +1.3%) has reportedly agreed to pay at least $750M in fines relating to the London Whale matter, reports Bloomberg.

Earlier reports had the fines expected to top out at around $600M.

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Comments (8)
  • KJP712
    , contributor
    Comments (469) | Send Message
    Where will the 750 million go to? Nobody seems to know the destination of these fines.I never remember a check from the government arriving in the mail.
    16 Sep 2013, 08:02 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9602) | Send Message
    Under Jamie Dimon's watch, JPM has lost billions. Shareholders should be calling for his firing, not backing him.


    Pay no attention to that man behind the curtain. It's Jamie Dimon with JPM's checkbook trying to make everything go away.
    16 Sep 2013, 08:32 PM Reply Like
  • Swisser998
    , contributor
    Comments (148) | Send Message
    I'm a shareholder and I back Dimon. JPM is above its price in 2007, something that will never be said again for the likes of C and BAC. Besides $1-2 billion here and there isn't that much for JPM.


    Heck, MSFT just blew $7 billion last week.
    16 Sep 2013, 09:18 PM Reply Like
  • Squeeky Wheel
    , contributor
    Comments (350) | Send Message
    What is curious is that JPM gets so much more press than WFC. Since Dimon became CEO of JPM their performance has been nearly identical (~ +34%). Since Stumpf become CEO of WFC in June 2007 there's a difference, JPM +5%, WFC +19% (usuing June 15, I can't find an exact date).
    16 Sep 2013, 11:31 PM Reply Like
  • SoCalNative+(RIP)
    , contributor
    Comments (651) | Send Message
    Yes. Then what fines next week? And the week after that.


    @Swisser: I'm with you. People hate Dimon because he's a cool customer and wields a lot of power. It's nothing new that jealous people hate winners.
    16 Sep 2013, 09:29 PM Reply Like
  • Brian Barbour
    , contributor
    Comments (1321) | Send Message
    the amount of fines being 'agreed' between the government and these institutions since the financial crisis is worrying.


    Firstly, there shouldn't be an agreement. They should have to take the punishment decided.


    Also, If there is no criminal sanctions then these institutions are happy to make the shareholders take the hit of these fines.
    16 Sep 2013, 11:07 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4911) | Send Message
    It's called extortion money brought to you by your democratically elected government. The real issue is how can this corruption go on right under peoples' noses?


    Think about it.
    16 Sep 2013, 11:59 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (3410) | Send Message
    1 man cannot oversee JPM in its entirety. I'm talking every trade, every hedge, every loan, every investment. It just can't happen that way. I give the guy credit for running the bank solidly.. but you can't expect the impossible from 1 person.
    17 Sep 2013, 06:19 AM Reply Like
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