Federal prosecutors in Sacramento believe they have established the personal linkage — who ordered the dirty deals, who carried them out — that could support criminal indictments of individuals or against the corporate “person” known as JPMorgan Chase. That would be truly unprecedented — a “game changer” in Wall Street/Washington parlance — and with threatening potential for the defendant bank. In the negotiations, Holder has refused to give Dimon what he seems to want most — an agreement to drop the criminal charge and settle for bigger money instead. That might weaken the storm of private lawsuits already filed by the victims of JPMorgan’s fraudulent profiteering. The star banker kept raising his bid. The AG kept saying no way. Americans should stay tuned and maybe send fan mail to the Justice Department, urging the prosecutors to hang tough.
Posted on: Wed, 23 Oct 2013 15:18:31 +0000
Trending Topics
Recently Viewed Topics
© 2015