TV News LIES

Wednesday, Feb 28th

Last update08:55:09 AM GMT

You are here News Economy What It Costs the Worst Bank to Be Truly Evil

What It Costs the Worst Bank to Be Truly Evil

E-mail Print PDF

jpmc$16 billion. That's how much JPMorgan Chase has paid in fines, settlements and other litigation expenses in the last four years alone.

More than half of that amount, $8.5 billion, was paid out in fines and settlements as the result of illegal actions taken by bank executives.
$8.5 billion is almost 12 percent of the net income the mega-bank brought in during the same period.

These figures comes from " JPMorgan Chase: Out of Control," an impressive analysis of the bank's performance by Joshua Rosner, an investment analyst at GrahamFisher. And there's more. Since Rosner published his report only last week, JPMorgan Chase has settled another dispute.

This latest agreement is with the trustee for customers of fraudulent investment firm MF Global. The MF Global  deal included a $100 million cash payout from Chase, and an agreement to waive the $417 million in claims it had made against MF Global's clients. If you add in the full amount of this agreement, the bank has given up more than $9 billion in settlements since 2009.

Now we're over 12 percent just in payouts. Throw in all the other litigation costs and the total comes to well over 20 percent of the bank's net income in a four year period.

More...


Most Recent Related Stories...


Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

Macy's to close 150Macy's on Tuesday forecast annual sales and profit below expectations and said it would shutter about...

Wall Street notches fresh records as S&P 500 and Dow Jones close at all-time high

Wall Street notches gains at all time high Wall Street scaled fresh records on Monday, as the S&P 500 and the Dow Jones industrial...

S&P 500 closes above 5,000 for first time as US inflation cools

S&P closes above 5000 US stock markets hit another historic high on Friday, with the S&P 500 closing above 5,000...

Wayfair lays off over 1,000 employees weeks after CEO told company to 'work longer hours'

Wayfair layoffs Online home goods retailer Wayfair announced Friday that it is laying off approximately 1,650 employees, representing...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!