Thursday, September 19, 2013

JP Morgan Fines Now More Than $8 Billion Dollars

Since 2011, JPM has been fined $8B:
$56 million (April 2011)
$153.6 million (June 2011)
$229 Million (July 2011)
$88.3 Million (August 2011)
$5.29 Billion (February 2012)
$110 million (February 2012)
$150 million (March 2012)
$296.9 million (November 2012)
X% of $8.5 billion (January 2013)
$100 million (March 2013)
$410 million FERC settlement (August 2013)
$900 million (September 19, 2013)
Huh? 8 freaking billion?
Listen, I'm all about free enterprise and capitalism and the American way. And I hear and understand the argument for government over-regulation, but what is this company doing?
JP Morgan is not a bank.  It's more like an organization living on the edge between a business entity and a criminal empire.  

Thoughts?  Is this a shakedown? JPM specific?  Is Goldman Sachs smarter, less unscrupulous, or just better connected?
Source:  thedailybeastTBP

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