linkedin post 2013-10-26 05:57:42

JAIL PLEASE? “JP Morgan has reached a $5.1bn (£3.2bn) settlement with FHFA over charges it misled mortgage giants Fannie Mae and Freddie Mac during the housing boom. It is the biggest settlement ever by a US bank.The agreement relates to “approximately $33.8 billion of securities purchased by Fannie Mae and Freddie Mac. Last month, the bank agreed to pay more than $1bn to help it end various investigations into its 2012 “London whale” trading debacle, which cost the bank more than $6bn.””
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