Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

JP Morgan

  • 20-10-2013 5:43pm
    #1
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭


    JPM is to pay a $13bn ($13,000,000,000 – not sure if that’s enough noughts) fine to the US Government. How will this impact the markets tomorrow, presumably it will impact on the share price of financial institutions with JPM being hardest hit. Buying opportunities?


Comments

  • #2
    martyoo
    Closed Accounts Posts: 872 ✭✭✭martyoo


    Haven't been following this very closely but what was the expected amount? If it wasn't too far off it then won't be already priced in?


  • #3
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Not sure what the expected amount was, I think they had earmarked something less than $10bn. However this doesn't put JPM in the clear, the criminal investigation and prosecution is still going ahead so that leaves a cloud still hanging over them


  • #4
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    Typical of what happens in America. Jp were not really involved in any bad practices. They were forced to take over 2 bad banks and are now landed with this fine over what went on in these 2 banks.


  • #5
    stackerman
    Registered Users, Registered Users 2 Posts: 1,241 ✭✭✭stackerman


    gordongekko wrote: »
    Typical of what happens in America. Jp were not really involved in any bad practices. They were forced to take over 2 bad banks and are now landed with this fine over what went on in these 2 banks.

    Sorry, but that's rubbish.
    Do yourself a favour and do a search for all the fines they've paid out in just the last 3 years.


  • #6
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    stackerman wrote: »
    Sorry, but that's rubbish.
    Do yourself a favour and do a search for all the fines they've paid out in just the last 3 years.

    This fine relates to 2 banks they were asked to take over by the American government during the sub prime crisis.


  • Advertisement
  • #7
    stackerman
    Registered Users, Registered Users 2 Posts: 1,241 ✭✭✭stackerman


    gordongekko wrote: »
    This fine relates to 2 banks they were asked to take over by the American government during the sub prime crisis.

    Indeed it was.
    Any excuses for all the other fraudulent and deceitful trading ?
    I think their derivative book will come home to roost, sooner or later.
    Still, JMHO . .


  • #8
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    stackerman wrote: »
    Indeed it was.
    Any excuses for all the other fraudulent and deceitful trading ?
    I think their derivative book will come home to roost, sooner or later.
    Still, JMHO . .

    im not making any excuses. I just pointed out that this fine was harsh as it related to 2 banks that they were basically forced into taking over by the us government. If anything happens again I can't see them being so willing to help out.


Advertisement