Jamie Dimon's house of fines
JPMorgan Chase CEO Jamie Dimon left the Justice Department in Washington, D.C. empty handed- no deal to end investigations into the banks alleged sales of bad mortgage securities in the years leading up to the financial crisis.
The meeting with U.S. Attorney General Eric Holder lasted about an hour. Sources say the bank and federal and state authorities are trying to resolve the investigations, with a potential $11 billion dollar settlement. JP Morgan had a profit of $21 billion in 2012.
Holder declined to share any specifics- but made clear his team's interest in going after financial institutions.
SOUNDBITE: ERIC HOLDER, U.S. ATTORNEY GENERAL (ENGLISH) SAYING
"This is something that is a priority for the Justice Department. To hold accountable people who would manipulate, companies who would manipulate our financial markets for their own customers benefit or for the benefit of the companies."
Dimon's meeting with Holder shows how high the stakes are for
The meeting with U.S. Attorney General Eric Holder lasted about an hour. Sources say the bank and federal and state authorities are trying to resolve the investigations, with a potential $11 billion dollar settlement. JP Morgan had a profit of $21 billion in 2012.
Holder declined to share any specifics- but made clear his team's interest in going after financial institutions.
SOUNDBITE: ERIC HOLDER, U.S. ATTORNEY GENERAL (ENGLISH) SAYING
"This is something that is a priority for the Justice Department. To hold accountable people who would manipulate, companies who would manipulate our financial markets for their own customers benefit or for the benefit of the companies."
Dimon's meeting with Holder shows how high the stakes are for
Category
🗞
News