On 10/19/2013 7:27 PM, F.O.A.D. wrote:
Reuters) - JPMorgan Chase & Co has reached a tentative $13 billion
agreement with the U.S. Justice Department to settle government agency
investigations into bad mortgage loans the bank sold to investors before
the financial crisis, a source said on Saturday.

The tentative deal does not release the bank from criminal liability for
some of the mortgages it packaged into bonds and sold to investors, a
factor that had been a major sticking point in the discussions, the
source said.

As part of the deal, the bank will likely cooperate in criminal
inquiries into certain individuals involved in the conduct at issue, the
source, who declined to be identified, said.

- - -

Too bad there's a settlement and that none of the banksters probably
will ever be sent to the slammer.



Too bad the banking industry was forced into giving bad mortgage loans
in the first place. Without them there would not have been a financial
crisis.