Democracy NOW-
Interview with financial analyst and writer Yves Smith, we look at who wins and loses with the JPMorgan Chase settlement. While the New York Post accused the Obama administration of “robbing” JPMorgan, Smith breaks down how much the nation’s largest bank will actually have to pay.
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Great piece but it should also be understood that WaMu was value at $308 billion and JPMorgan got it for $9 billion.
I prefer Bill Black’s illustration of this total sham of a “settlement”. The taxpayers are in part, the people who will be paying for this fine. To make things easier to understand, the Gov is basically shoveling money to JPM as we speak or type. Finally,
Jamie and other bank CEOs need prosecution. settling with felons isn’t healthy for the country.
(n.b – Use the New York Post to mask over spray during painting or to use as a fire starter in campgrounds where it is legal to do so.)