2011-06-23reuters.com

``This settlement is a significant win for JPMorgan and its CEO Jamie Dimon, who once again has managed to avoid the reputational and financial damage done to other banks with very similar problems. My sources say that other large Wall Street banks with similar problems related to complex mortgage deals are likely to settle SEC claims shortly. But this is only one battle won in a longer war for survival for JPMorgan and other top banks.... But, don't start popping the champagne corks for JPMorgan just yet. In a research note published by my firm on Tuesday, we summarize some of the civil liabilities facing the top banks and loan servicers in just one narrow area, namely claims made under the Securities Act of 1933... Add the legacy claims from Washington Mutual and the bank's own production, and the total claims facing JPMorgan total nearly $50 billion.''


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread