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Attempting to avert another suit, JPMorgan in settlement talks with DOJ

  • In a last-minute effort at settling before a case is officially filed, JPMorgan (JPM -1.1%) is holding settlement talks with the DOJ over its sale of MBS in California prior to the financial meltdown, reports Reuters.
  • A report yesterday said the DOJ was preparing to file its suit as early as today.
Comments (4)
  • june1234
    , contributor
    Comments (3150) | Send Message
     
    Make a few billion pay millions in fines, cost of doing business
    24 Sep 2013, 12:07 PM Reply Like
  • pfifla1
    , contributor
    Comments (528) | Send Message
     
    Yes but it is getting rather tiresome watching the gov't who approved most of these dealings get to play the hindsight game and come back and continue to harass the banks... How many variations of regulatory agencies get to file suits against them? As a shareholder of WFC and JPM it doesn't so much hurt the company or its workers as both are strong, it hurts shareholders - the american public - who would most likely see more buybacks and dividends as a result of having the proverbial "monkey off their back"..
    24 Sep 2013, 12:36 PM Reply Like
  • philipmax
    , contributor
    Comments (307) | Send Message
     
    The New York Times has a front page (financial) article articulating your thoughts exactly.

     

    Failing criminal indictments, nobody but shareholders gets hurt.
    24 Sep 2013, 01:03 PM Reply Like
  • spinrbait
    , contributor
    Comments (472) | Send Message
     
    @pfifia, the whole point is to hurt shareholders. the president of the united states hates our guts.
    24 Sep 2013, 01:25 PM Reply Like
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