JP Morgan pays $920m to regulators

Jimbuna · 09-19-13, 02:49 PM

Quote:

The settlement is the third biggest banking fine by US regulators, and the second largest by UK regulators.

Will the bankers ever learn?

http://www.bbc.co.uk/news/business-24159801

Fubar2Niner · 09-19-13, 02:53 PM

Why will they Jim. It's the only job I know where you can totally screw up and get a £xx,000 or more hand shake

Bastidges

Jimbuna · 09-19-13, 02:54 PM

Impose custodial sentences in addition to fines to those responsible and bring in tighter scrutiny and governmental control measures.

You?

Jimbuna · 09-19-13, 02:55 PM

Quote:

Originally Posted by Fubar2Niner

Why will they Jim. It's the only job I know where you can totally screw up and get a £xx,000 or more hand shake

Bastidges

Agreed...that is one of the most annoying aspects of this whole sorry financial system...in the UK anyway.

Armistead · 09-19-13, 02:56 PM

No they don't learn, because they know they can make more money breaking laws and regulations than the fines or lawsuits brought against them.

Jimbuna · 09-19-13, 03:07 PM

Quote:

Originally Posted by terryn

I think that's a chivalric approach, but I don't think it will eliminate the corruption. It might not even curb it.

I don't have an answer.

Well thanks for your honesty anyway.

I forgot to mention, strip them of their gold plated pensions and share issues as well because it is all about money and the greed for more.

Fubar2Niner · 09-19-13, 03:24 PM

Quote:

Originally Posted by Jimbuna

I forgot to mention, strip them of their gold plated pensions and share issues as well because it is all about money and the greed for more.

Whole heartedly agree Jim, will it ever happen? I doubt it, but hope I'm wrong.

soopaman2 · 09-19-13, 03:29 PM

That's a drop in the bucket.

How come someone who steals 100$ will go to prison, but steal a billion and you get interest free loans from the Fed?

Any free capitalists wanna explain that one to me?

STEED · 09-19-13, 03:32 PM

JP Morgan is always being fined and they answer with this...

They don't give a hoot they are making millions every day.

Skybird · 09-19-13, 03:44 PM

Quote:

Originally Posted by Jimbuna

Impose custodial sentences in addition to fines to those responsible and bring in tighter scrutiny and governmental control measures.

You?

Government? Sure they know it better? They live parasytically.

Problem is there is infinite supply of money. It gets inflationarily printed.

Reduce the availability of money by making it non-printable. Means - get rid of papermoney, return to normal covered money. This necessarily will reduce availability of it, and making its value a free negotiating by and on the market.

Have you never wondered why politicians were the ones enforcing central banks? Central banks are the infinite money source that politicians want like an addict needs his heroine.

And you think politicians really have even an interest to regulate the system towards printing less money? You expect them to act against there own career interests.

Simmy · 09-19-13, 05:46 PM

Quote:

Originally Posted by Armistead

No they don't learn, because they know they can make more money breaking laws and regulations than the fines or lawsuits brought against them.

Isn't this the truth?
Same with the drug companies. They make 2 billion dollars on a new drug then end up paying 300 million dollars to pay off the class action law suits.

Armistead · 09-19-13, 07:16 PM

Quote:

Originally Posted by Simmy

Isn't this the truth?
Same with the drug companies. They make 2 billion dollars on a new drug then end up paying 300 million dollars to pay off the class action law suits.

Look what they did with the bailout, given billions to help home owners, not only did they not loan, they simply stole numerous homes. Sure,, they paid millions in fraud lawsuits, but they made 100 times more breaking the rules. They create a problem, get a bail out and still give themselves millions in bonuses. Was anything solved, not really, they do the same thing and they're still too big to fail.

Wolferz · 09-19-13, 08:29 PM

Fines? More like bribes.

Give a man a gun and he can rob a bank and go to prison for it. But, give a man a bank and he can rob the world and get paid handsomely for it.

Sailor Steve · 09-19-13, 09:29 PM

Quote:

Originally Posted by Simmy

Isn't this the truth?
Same with the drug companies. They make 2 billion dollars on a new drug then end up paying 300 million dollars to pay off the class action law suits.

Wouldn't it be nice if people did just a little research before they repeated what they've been told?
http://www.forbes.com/sites/matthewh...panies-ranked/#
http://en.wikipedia.org/wiki/Drug_development

On the other hand, and to be fair, a pair of economics experts question how much it really costs and come up with some numbers of their own.
http://content.healthaffairs.org/content/25/2/420.long

Armistead · 09-19-13, 11:07 PM

Quote:

Originally Posted by Sailor Steve

Wouldn't it be nice if people did just a little research before they repeated what they've been told?
http://www.forbes.com/sites/matthewh...panies-ranked/#
http://en.wikipedia.org/wiki/Drug_development

On the other hand, and to be fair, a pair of economics experts question how much it really costs and come up with some numbers of their own.
http://content.healthaffairs.org/content/25/2/420.long

I think he was trying to make a point...

09-19-13, 02:54 PM	#3
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,481 Downloads: 63 Uploads: 13	Impose custodial sentences in addition to fines to those responsible and bring in tighter scrutiny and governmental control measures. You? __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

09-19-13, 02:56 PM	#5
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	No they don't learn, because they know they can make more money breaking laws and regulations than the fines or lawsuits brought against them. __________________ You see my dog don't like people laughing. He gets the crazy idea you're laughing at him. Now if you apologize like I know you're going to, I might convince him that you really didn't mean it.

09-19-13, 03:29 PM	#8
soopaman2 Der Alte Join Date: Sep 2011 Location: New Jersey, USA Posts: 3,316 Downloads: 61 Uploads: 0	That's a drop in the bucket. How come someone who steals 100$ will go to prison, but steal a billion and you get interest free loans from the Fed? Any free capitalists wanna explain that one to me? __________________ If Hitler invaded Hell I would make at least a favourable reference to the devil in the House of Commons. -Winston Churchill- The most fascinating man in the world.

09-19-13, 03:32 PM	#9
STEED Lucky Jack Join Date: Jan 2006 Location: Down Town UK Posts: 27,695 Downloads: 89 Uploads: 48	JP Morgan is always being fined and they answer with this... They don't give a hoot they are making millions every day. __________________ Dr Who rest in peace 1963-2017. To borrow Davros saying...I NAME YOU CHIBNALL THE DESTROYER OF DR WHO YOU KILLED IT!

09-19-13, 08:29 PM	#13
Wolferz Navy Seal Join Date: May 2007 Location: On a mighty quest for the Stick of Truth Posts: 5,963 Downloads: 52 Uploads: 0	Fines? More like bribes. Give a man a gun and he can rob a bank and go to prison for it. But, give a man a bank and he can rob the world and get paid handsomely for it. __________________ Tomorrow never comes

09-19-13, 02:53 PM	#2
Fubar2Niner Silent Hunter Join Date: Nov 2002 Location: London. UK Posts: 4,175 Downloads: 279 Uploads: 0	Why will they Jim. It's the only job I know where you can totally screw up and get a £xx,000 or more hand shake Bastidges