“JP Morgan’s penalties to resolve various probes of the ‘London whale’ trading fiasco are expected to total $500 million to $600 million, according to people close to the situation. US and UK officials for months have been considering the possibility of a global settlement that would resolve all the probes at once, said another person familiar with the matter. Exact terms aren’t known and no final decisions have been reached. Any settlement might include the filing of civil charges alleging that JP Morgan failed to supervise adequately former traders responsible for the bets and lacked sufficient controls to prevent an alleged cover-up of the losses, people close to the investigations said.”
JP Morgan fines may hit $600 million
- Post author:The Freedom Watch Staff
- Post published:August 30, 2013
- Post category:Network Archives / The Freedom Watch
Tags: Bankocracy, CLibertyC, constitutional liberty coalition, Cost Of Doing Business, economic Trends, for life and liberty, Grabfest, Investment/Trends, Mainstream News, Resistance, sound money, The Freedom Watch, What Could Possibly Go Wrong, White Shoe Boys
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