JPMorgan Chase to settle with government over Madoff claims

[700UW]

JPMorgan Chase to settle with government over Madoff claims

Read more: http://www.upi.com/Business_News/2014/01/06/JPMorgan-Chase-to-settle-with-government-over-Madoff-claims/UPI-76931388989122/#ixzz2pbUACBMu
 
Bring this past year's total to almost $20 Billion!

 

[700UW]

From former Secretary Robert Reich:
 

 
JPMorgan Chase, the nation's largest bank has just avoided the deep freeze again by agreeing to pay a $2 billion fine for ignoring Bernie Madoff's Ponzi scheme (JP was Madoff's primary bank for two decades before the scheme blew up) -- despite emails from executives at the time referring to the "well-known cloud over the head of Madoff" and speculating he's "part of a Ponzi scheme," and a Bank Secrecy Act making it a criminal offense to facilitate money laundering or failing to report suspicious transactions to the authorities.
 
The deal follows JPMorgan's payment of $13 billion to the government over its sale of fraudulent mortgage securities, not to mention its alleged bribery of Chinese officials and its $6 billion loss in the London Whale scandal -- all told, $20 billion in fines and penalties over the past year. But those fines are still small potatoes to JPMorgan and won't make a dent in its end-of-year bonus pool. All of which should be enough evidence that Wall Street's major banks are too big to jail or fail or curtail, and must be broken up.
 

 

[700UW]

 

[southwind]

What I'm more concerned about, is when GM and their unions are going to pay back the 10 BILLION DOLARS, tax payers lost!
 

U.S. exits GM stake, taxpayers lose $10 billion!
 
http://www.reuters.com/article/2013/12/09/us-autos-gm-treasury-idUSBRE9B815Y20131209

 

[Dog Wonder]

"But the bailout helped Detroit automakers return to profitability, and a study released on Monday by the Center for Automotive Research said it saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections."
 
Read your own links and do the math.  Did they teach reading and math at your school?

 

[Glenn Quagmire]

They only do that in the libtard socialist schools.

 

[southwind]

"But the bailout helped Detroit automakers return to profitability, and a study released on Monday by the Center for Automotive Research said it saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections."[/size]
 
Read your own links and do the math.  Did they teach reading and math at your school?[/size]

GM should have done exactly what other companys do......file bankruptcy !
Myself and the rest of the tax payers lost 10 BILLION DOLLARS.........PERIOD!

 

[700UW]

GM should have done exactly what other companys do......file bankruptcy !
Myself and the rest of the tax payers lost 10 BILLION DOLLARS.........PERIOD!

 
How does your foot taste?
 
You are truly uneducated.
 
http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/
 

Last Updated: June 2, 2009: 4:03 AM ETGM bankruptcy:

End of an era After years of losses, the troubled automaker is forced into bankruptcy. GM is set to close a dozen facilities and cut more than 20,000 jobs.

NEW YORK (CNNMoney.com) -- General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable that became inevitable after years of losses and market share declines capped by a dramatic plunge in sales in recent months.

 

[Ms Tree]

GM should have done exactly what other companys do......file bankruptcy !Myself and the rest of the tax payers lost 10 BILLION DOLLARS.........PERIOD!

What is your basis for concluding that liquidating GM would have benifited the US?

 

[Dog Wonder]

GM should have done exactly what other companys do......file bankruptcy !

Back in the corner.

 

[Glenn Quagmire]

How does your foot taste?
 
You are truly uneducated.
 
http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/

He'll get back with you after listening to tomorrow's radio shows.

 

[700UW]

Well he is 0 for 2 now, can we get a strike out?

 

[southwind]

What is your basis for concluding that liquidating GM would have benifited the US?

What is yours and others basis for concluding that liquidating GM would "NOT" have benefited the U.S. and created jobs elsewhere!
 
Someone or company, I'm sure , would have filled that void, be it Ford, Dodge or even Huyndai!
 
Why not give every "Tax paying" citizen, interested in a Chevy 10% off?

 

[TDR1502C]

Would the auto parts companies that supplied all the auto companies have survived GM and Chrysler shutting down? The parts companies were stretched so thin by just-in-time cost reimbursements they would have stopped the other American based auto companies, such as Ford, BMW, Toyota, Nissan and Honda. Why did Ford, Toyota and BMW have to take loans from the government at the same time?

Before the mid 1960's people used to do small banking transactions at the post office, but about the time the banks got caught using Social Security numbers for customer identification the banks got Congress to ban the post office bank services and limit credit unions. The financial sector is supposed to be the oil pump for the engine of capitalism, not the load.

 

[Ms Tree]

What is yours and others basis for concluding that liquidating GM would "NOT" have benefited the U.S. and created jobs elsewhere!
 
Someone or company, I'm sure , would have filled that void, be it Ford, Dodge or even Huyndai!
 
Why not give every "Tax paying" citizen, interested in a Chevy 10% off?

I think putting all those people and all those subsidiaries would have been very detrimental to the already precarious economy.

You don't just start up a GM size company over night. It takes time to design and build a car. You don't build a car company overnight.

I agree that the void of car production would have been filled but not the jobs. Most of them would have been gone.

GM is not making all that much as it is. Giving 10% I don't think is the way to go.

Also keep in mind that there was no financing around for any company start ups.