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As expected, JPMorgan (JPM) agrees to pay $297M to settle the SEC lawsuit over MBS issued by...

As expected, JPMorgan (JPM) agrees to pay $297M to settle the SEC lawsuit over MBS issued by Bear Stearns, reports Bloomberg. Reminder: This suit was just a nuisance. The granddaddy is the FHFA lawsuit, and that settlement is likely to be several multiples of this one.
Comments (4)
  • This was a major case. I don't think there would be any provision for litigation expense in the last quarter. Maybe there can be a reversal. As reported during interview by Jamie Dimon, this month, in CA, JPM has a provision of US$ 10B. In the quarterly meeting, he mentioned that unrealized gains on securities as at the end of September was US$ 11B. Is this a great news for investors of JPM?
    16 Nov 2012, 08:13 PM Reply Like
  • Chump change to these crooks.

     

    Wonder how many people got paid off for this one.
    17 Nov 2012, 05:57 AM Reply Like
  • no one seems to care. literally. does anyone care about these horrific amounts anymore? who is paying for all this, where does the money come from? its all illusory....a 4billion fine doesn't even move a stock anymore......if this isn't weimar-esque i'm not sure what is.....wow...
    17 Nov 2012, 06:00 AM Reply Like
  • The Board of JPM must be so proud of CEO Jamie Dimon. $297M here, $6-8B loss in the London Whale there, and more to come. At what point does the uber-smart Mr. Dimon step up and take one for the team? There is no doubt that he will take hundreds of millions when he resigns or is asked to leave, costing the company even more money. At what point does the Board cut ties with "the smartest person in the room?" Shareholders deserve better and better can be found if they would only look.
    17 Nov 2012, 08:31 AM Reply Like
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