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(Opposing Views)   JP Morgan may have to pay the government $11 billion. If trickledown economics is real, hookers and coke dealers are in for a rough year   (opposingviews.com) divider line 45
    More: Followup, JPMorgan Chase & Co., U.S. government  
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2514 clicks; posted to Business » on 28 Sep 2013 at 4:15 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



45 Comments   (+0 »)
   
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2013-09-28 04:17:30 PM  
Please, please, please........
 
2013-09-28 04:18:10 PM  
Ok, so this is the site where they are re-directing the links.
 
2013-09-28 04:19:59 PM  
FTFA:  "JP Morgan continues to make annual profits nearly double the penalty they may owe the government "

This is why we cant have nice things..  literally.
 
2013-09-28 04:21:27 PM  
I think they should take the 11 Billion and still jail everybody that has the letter C at the beginning of their job title. Throw bribery charges in on top of it.
 
2013-09-28 04:21:48 PM  
Well yea I know a lot of people who committed murder and avoided a life term prison sentence by paying a small fine too.

/Discrimination and the Law: Go fark yourself, poor people.
 
2013-09-28 04:22:30 PM  
Just in: jp morgan raises rates on customers
 
2013-09-28 04:26:49 PM  
that is a half hour of work at most for them.
 
2013-09-28 04:30:24 PM  
And they get to write it off. Paying the bill and flipping off the IRS all at once. Too big to fail? Ha, more like too big to jail.
 
2013-09-28 04:30:48 PM  
 
2013-09-28 04:30:54 PM  
It was just electronic money right? No harm done,  Just an imaginary game.,..
 
2013-09-28 04:33:26 PM  
Pocket change.
 
2013-09-28 04:36:52 PM  
They will just figure out a way to game the system and make all the money back while writing off the loss as a tax break and get a tax refund (that will be used to pay down some of the fine on their books).
 
2013-09-28 04:40:39 PM  
BTW, statute of limitations is approaching,,,
And elections are just around the,,,
 
2013-09-28 04:41:41 PM  

berylman: It was just electronic money right? No harm done,  Just an imaginary game.,..


It was until they used your money to bluff with.
 
2013-09-28 04:42:43 PM  
House, that was supposed to be "house"
 
2013-09-28 04:50:58 PM  
I think when you get to $5k a night rates, they call them professional escorts.
 
2013-09-28 04:52:46 PM  

Nick Nostril: I think when you get to $5k a night rates, they call them professional escorts.


I certainly would.
 
2013-09-28 04:53:59 PM  
I kind of wish one day we all collectively snap, grab our guns, pitchforks, torches, and ropes, and storm all the big banks and kill those fatass executives in a twisted but beautiful example of mob justice.
 
2013-09-28 04:55:43 PM  
Hhmmm,
Congressmen make 174K/year,,,
Per night,,,
NO MATH!
 
2013-09-28 04:58:36 PM  
We just need to elect a minority democratic president. That would put these white cracker repubtard capitalists in their place once and for all!
 
2013-09-28 04:59:38 PM  

snocone: Nick Nostril: I think when you get to $5k a night rates, they call them professional escorts.

I certainly would.


Unless they're dead.

They're all called hookers when they're dead, Cyril.
 
2013-09-28 05:07:01 PM  
Never gonna happen.  I hope it does though.
 
2013-09-28 05:20:44 PM  
Now, if the Feds would get the other players in the game to also cough up the same, we might see something good come out of this.

Looking at you Goldman, etc.
 
2013-09-28 05:30:12 PM  
A bank didn't take bailout money... FINE THEM!

The new Dodd-Frank requirements didn't catch the risk of losses.... FINE THEM!

It's sad that Obama is focusing so hardly on one of the few banks that didn't lead to the fiscal meltdown.
 
2013-09-28 05:35:44 PM  
Make it a $17 trillion payout and all of our problems are solved.
 
2013-09-28 05:53:14 PM  

Persnickety: Repeat:  http://www.fark.com/comments/7948328


Nope, not a repeat.  Read the article you linked to.  But thanks for being so vigilant on the repeat monitoring.  I don't know how I'd handle seeing two submissions for the same story.
 
2013-09-28 05:53:52 PM  

Richard C Stanford: I kind of wish one day we all collectively snap, grab our guns, pitchforks, torches, and ropes, and storm all the big banks and kill those fatass executives in a twisted but beautiful example of mob justice.


THANKS OBAMA BANKS
 
2013-09-28 05:59:09 PM  

I Like Shiny Things: We just need to elect a minority democratic president. That would put these white cracker repubtard capitalists in their place once and for all!


I voted for Obama because I wanted less war and to stop runaway deficits, not because I hated banks. It appears to have worked.

The largest holder of JP Morgan shares is Vanguard, the index fund people. So the typical capitalist owner of the company is the cubicle drone next to you who doesn't even have a clue what his/her 401k is doing.

If you consider that the dictionary definition of "socialism" is collective ownership of the means of production, then maybe the typical huge public corporation is really a socialist institution.
 
2013-09-28 06:06:41 PM  
Until someone goes to jail, not a Fark will be given...
 
2013-09-28 07:00:58 PM  
Article is Pete and his cousin Repeat. Pete is sitting on a fence and falls .. never mind ..
 
2013-09-28 07:20:54 PM  
make them pay 100 billion, then throw everyone in charge in jail.
 
2013-09-28 07:31:39 PM  
Fines...meh. Fark that. Throw 'em in jail and dismantle their companies.
 
2013-09-28 08:34:26 PM  
Woohoo, then the government will distribute that money amongst us poors.  Happy day!  Can't wait to get my check.
 
2013-09-28 08:45:02 PM  
JP Morgan and Bank of America are corrupt and if they were people would have been thrown in jail.

Nothing makes me happier to see BoA's @ 13.90 a share vs. the over 100.00 a share back in 2003.

Love it.
 
2013-09-28 08:49:07 PM  

MyRandomName: A bank didn't take bailout money... FINE THEM!

The new Dodd-Frank requirements didn't catch the risk of losses.... FINE THEM!

It's sad that Obama is focusing so hardly on one of the few banks that didn't lead to the fiscal meltdown.


JPMorgan took $25 billion in TARP money. They also got a sweetheart deal in buying Bear Stearns, courtesy of the US government.
 
2013-09-28 10:32:42 PM  
If J.P. Morgan is agreeing to pay an $11 billion fine that just means that to J.P. Morgan $11 billion is chump change.  And it's probably money that they got from the government anyway.
 
2013-09-28 10:36:51 PM  
The fix is structural:  Public ONLY funding for all elections (penny tax on tampax or something, into a trust - no insult, ladies - just thinking about staunching the corruption) and ABSOLUTE transparency of ALL lobbying.

Problem with Dodd/Frank and ACA is that the competition, in order to be heard and attain one's own special place above the competing interests and businesses, has more to do with what can be put into campaign coffers than it is about decreasing costs/increasing efficiency/improving service to citizens.  Both laws are intentionally complicated in order to leverage one's position during the rule making phase (go ahead, dive into the comments sections on proposed rules/regs in the Federal Register).

JPM & the other TBTF's are paying fines as fast as they can write the checks - pittance party.  All the while the American taxpayer remains their savior in waiting (more like serfs) and we are still subsidizing the grifters.  Dodd/Frank, not strong to begin with, is being weakened further through the interminable rule making (every financial service lobbyist is in there gnawing away).  Yet plain vanilla oversight?

David Fisher of the Dallas Fed on limiting ANY FEDERAL `risk off' to ANY Bank Holding company to only their commercial bank affiliate (discount window/insured deposits)  YOU want to put your money down on any other game in their casino?  You're on your farking own, i.e., sign the disclaimer and good luck!:   http://www.dallasfed.org/news/speeches/fisher/2013/fs130626.cfm  We'd discover just how much of a subsidy we are paying if this fix was immediately implemented (percentage decrease in Financial Services Sector over the next decade).

For those who like the numbers:  Dallas Fed Analysts on the total loss from the Crisis  (great contraction) 2013 review:   http://dallasfed.org/assets/documents/research/staff/staff1301.pdf

/put some salt on these leeches
 
2013-09-28 11:01:56 PM  
k-punk.abstractdynamics.org
Word.
 
2013-09-28 11:43:51 PM  
The mortgage thing was the tip of the iceberg. The SEC has been after them for all the public corruption cases they've been involved in but has yet to make anything stick.
 
2013-09-29 12:02:32 AM  

itcamefromschenectady: I Like Shiny Things: We just need to elect a minority democratic president. That would put these white cracker repubtard capitalists in their place once and for all!

I voted for Obama because I wanted less war and to stop runaway deficits, not because I hated banks. It appears to have worked.

The largest holder of JP Morgan shares is Vanguard, the index fund people. So the typical capitalist owner of the company is the cubicle drone next to you who doesn't even have a clue what his/her 401k is doing.

If you consider that the dictionary definition of "socialism" is collective ownership of the means of production, then maybe the typical huge public corporation is really a socialist institution.


That is exactly what I told Walter Heller back in '66.
He was not thrilled.
 
2013-09-29 12:03:22 AM  

runwiz: If J.P. Morgan is agreeing to pay an $11 billion fine that just means that to J.P. Morgan $11 billion is chump change.  And it's probably money that they got from the government anyway.


It probably comes from insurance.
 
2013-09-29 09:26:46 AM  

itsaidwhat: And they get to write it off. Paying the bill and flipping off the IRS all at once. Too big to fail? Ha, more like too big to jail.


Oh I like that - that is my new tag - Too big to fjail.
 
2013-09-29 12:11:20 PM  
In 2011, Capital One was fined about $300,000,000 for their asshatary. The problem was, they made so much more money than that ripping off their customers that it was worth it. At the end of the day, they fired a mid-level manager and counted their profits.

This is happening here.  Time to put their executives in jail.
 
2013-09-29 02:25:38 PM  

buzzcut73: I think they should take the 11 Billion and still jail everybody that has the letter C at the beginning of their job title. Throw bribery charges in on top of it.


The Custodian?
 
2013-09-29 05:28:43 PM  

dustman81: MyRandomName: A bank didn't take bailout money... FINE THEM!

The new Dodd-Frank requirements didn't catch the risk of losses.... FINE THEM!

It's sad that Obama is focusing so hardly on one of the few banks that didn't lead to the fiscal meltdown.

JPMorgan took $25 billion in TARP money. They also got a sweetheart deal in buying Bear Stearns, courtesy of the US government.


Oh, but don't you know.  obama swooped in with his armed IRS agents and held a gun to their heads while they cashed the check from the government.  It was either that or the FEMA death camps for those hard working Muricans.  STUDY IT OUT!


//this is what teatards actually believe
 
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