There’s no such thing as too big to jail. We’ve heard the saying a number of times since the 2008 financial crisis, but now Attorney General Eric Holder is attempting to put a stop to assumptions that financial institutions and their executives are too large to be indicted. [More]
Remember that massive $25 billion settlement between the nation’s largest mortgage servicers — Bank of America, Wells Fargo, Chase, Citi, Ally — and attorneys general from around the nation? Well, it comes with a lot of rules for these institutions to follow. But the person in charge of monitoring the settlement says most of the banks are failing to comply fully. [More]
JPMorgan Chase dropped a hefty financial bomb on everyone yesterday, admitting that it lost $2 billion in six weeks after some bad trading decisions. CEO Jamie Dimon revealed the news after trading closed last night, admitting that the company only has itself to blame.