- JPMorgan (JPM) is off 0.4% in premarket action following weekend news it's set to pay $13B to make the DOJ go away, while still leaving itself open for criminal charges.
- A "terrible deal" for the bank, former prosecutor Jacob Frenkel tells CNBC, arguing JPMorgan should have gotten closure on the criminal investigation for a check amount of that size.
- "In essence, (JPM) is being penalized for having taken over Bear Stearns and WaMu ... It's almost as if what we're getting out of federal regulators … is a roulette wheel or some kind of jackpot, how much can you jack up the fine
JPMorgan deal "preposterous" says former prosecutor
Oct 21 2013, 07:38 ET