Sorry Settlement.. While Citi will soon pay $7 billion to settle with the DOJ over mortgage abuses, and BNP Paribas just paid $9 billion for violations of US sanctions, and recently JP Morgan paid $13 billion over various residential-backed mortgage securities, the problem is bankers dont do time! These fines, large as they are, have simply become a cost of doing business. Unless future settlements involve jail time, these abuses will continue. © 2014, Graphs & Laughs bit.ly/GraphsandLaughs To post daily MMG content to your own social media profiles, access the Social Media Sharing section, under the Market Action tab.
Posted on: Fri, 11 Jul 2014 13:48:10 +0000
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