JP Morgan fined record $13 billion +
 

This is the largest settlement ever between the US government and a corporation


This $13 billion fine is For misleading investors during the housing crisis .$4 billion of this goes to homeowners..Plus a further $6.5 billion in fines over the past 3 months for various corrupt practices



There are ongoing further investigations into the banks hiring practices in China and allegations the libor interest rate was manipulated by JP Morgan employees



The next questions are how exactly is this paid? will it be passed onto customers? how much more should be investigated and why has no one gone to prison yet?



But despite the egg thrown at Obama, I say this is a big day for him and his government and hopefully is another step towards making these global crooks accountable.



Lest we forget the gap between rich and poor is greater now in the UK than in the USA...yet the US economy , is outgrowing europes....so Obama is doing a better job than the various british and European leaders