How can Billion Dollar Fines be Little More Than Water off a Duck’s Back?

Citizen Wealth Financial Justice Foreclosure

New Orleans   I hate to admit it, but to me a billion dollars still seems like a whole lot of money.  Unfortunately, I’m afraid saying so makes me hopelessly hide bound and old school.             Why?             Because the government seems to be passing out billion dollar fines like candy to banks, utility companies, oil …

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How Much Puff versus Pay in Proposed JP Morgan Chase Settlement?

Citizen Wealth DC Politics Financial Justice Foreclosure

New Orleans   My goodness, hysteria has broken out among the financial chattering class with the news of a $13 billion proposed settlement between JP Morgan Chase and the Justice Department and Federal Housing Finance Agency over the bank’s handling of the mortgage crisis.  The lead editorial in the Wall Street Journal claimed variously that parts …

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