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JP Morgan and Credit Suisse pay $417 million to settle mortgage charges

 
The Bulgarian
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User ID: 26986827
Bulgaria
11/16/2012 03:19 PM
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JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
JP Morgan Chase and Credit Suisse have agreed to pay over 400 million US dollars in a settlement with the Securities and Exchange Commission over the banks' handling of subprime mortgages. JPMorgan agreed to pay $296.9 million to settle the charges and Credit Suisse agreed to pay $120 million. Neither of the banks admitted or denied guilt.

[link to rt.com]
Anonymous Coward
User ID: 21526495
United States
11/16/2012 03:34 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
Who gets this money? The SEC?

What do THEY do with it?

It's as if the government is saying, "Hey! You can't steal those people's money!!! Now... GIVE IT TO ME; That's OUR job!"
Psych

User ID: 903456
Netherlands
11/16/2012 04:58 PM

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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
They always get away like that. The penalty is just a small fraction of what they earned.
Alufiend
User ID: 27888921
United States
11/16/2012 05:02 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
no kidding. how many trillion in bad loans? it's just hush money.
Anonymous Coward
User ID: 24473407
United States
11/16/2012 06:08 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
WOW the banks must of really ripped us off, to have a 417 million dollar fine for hush money. Banks can screw off.
..|O_o|..
User ID: 10463447
Canada
11/16/2012 06:18 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
Small price to pay for their share of the 47 trillion dollar heist.. you can't wipe out an entire working class of people, without having to kick a little of it back to the people who helped make it all possible.

It also helps to maintain the illusion of rules..
Anonymous Coward
User ID: 27862301
United States
11/16/2012 07:42 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
Yep, reminds me of when Goldman Sachs made 50 billion on those bad mortgages and paid the SEC 500 million. im sure they built the fine into the business model.

anyway, back to facebook
Phade2Blak

User ID: 1108318
United States
11/16/2012 08:33 PM
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Re: JP Morgan and Credit Suisse pay $417 million to settle mortgage charges
JP Morgan Chase and Credit Suisse have agreed to pay over 400 million US dollars in a settlement with the Securities and Exchange Commission over the banks' handling of subprime mortgages. JPMorgan agreed to pay $296.9 million to settle the charges and Credit Suisse agreed to pay $120 million. Neither of the banks admitted or denied guilt.

[link to rt.com]
 Quoting: The Bulgarian


NOT ENOUGH...grumpy2

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