DAVID DAYEN: JP Morgan settlement is a joke -- it was actually only $9 billion, not $13 billion -- the $9 billion is not cash but a vague promise to provide mortgage relief over the next 4 years -- the mortgage relief is stuff they probably would have done anyway -- homeowners will have to pay a tax on some of the mortgage relief -- JPM can write off most of the settlement as a tax deductible business expense
Posted on: Thu, 21 Nov 2013 01:24:24 +0000