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Oct 20, 2013
10/13
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jp morgan. in july the government announced the bank would pay $410 million to the federal regulatory commission, for manipulating electricity prices in california and the midwest. last month jp morgan agreedo pay $1 million to u.s. and british regulators, admitting that the traders acted recklessly. the same day regulators ordered jp morgan to pay more than $3 million to customers hurt by illegal debt collection. wednesday the bank agreed to pay $100 million to the comodd dis futures trading commission for the london whale deals. now the $13 billion penalty for selling bad mortgage bonds to investors. that's $14,730 million since july. jp morgan could face criminal charges for mortgage bonds and an investigation over practices in asia. it's one of several banks being sued for rigging interest rates charged to other banks. >> after a summer of destructive wildfires australia is battling dozens of their own, burning near sydney in the blue mountains. hundreds of firefighters are working to contain the blaze, which has claimed the life of a resident who died trying to save his home. 200 homes have been destroyed as the wildfires spread. authorities are bracing for the worst, with forecasts b
jp morgan. in july the government announced the bank would pay $410 million to the federal regulatory commission, for manipulating electricity prices in california and the midwest. last month jp morgan agreedo pay $1 million to u.s. and british regulators, admitting that the traders acted recklessly. the same day regulators ordered jp morgan to pay more than $3 million to customers hurt by illegal debt collection. wednesday the bank agreed to pay $100 million to the comodd dis futures trading...
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Oct 19, 2013
10/13
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KICU
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. >>> jp morgan reportedly agree to pay $4 billion to settle a claim that misled the government. jp morgan misleded of the quality of the housing crisis. the government first wanted $6 billion from jp morgan chase but again the settlement was $4 billion. >>> the decision about criminal charges and reactions from the victim's attorneys. >>> we are in the south bay for a high school football game of the week, it is a real cross town arrival, it is this game, coming up. >>> the one direction that's trending over the next few days. >>> los angeles's high ride building broke out today. heavy smokes and flames on the 11th floor. at least two people were taken o the hospital. the la times report the 1951 building does not fall of state's violation. >>> we are learning of more people becoming ill of salmonella. the sentence for disease control says the out break has sicken 338 people. 40 people has been hospitalized. a consumer group has written to the acc and asking the agencies to step up for protection and protecting consumers. >>> no criminal charge force the firefighter who ran over
. >>> jp morgan reportedly agree to pay $4 billion to settle a claim that misled the government. jp morgan misleded of the quality of the housing crisis. the government first wanted $6 billion from jp morgan chase but again the settlement was $4 billion. >>> the decision about criminal charges and reactions from the victim's attorneys. >>> we are in the south bay for a high school football game of the week, it is a real cross town arrival, it is this game, coming up....
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Oct 20, 2013
10/13
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ALJAZAM
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jp morgan. in july the bank was announced to by $410 million to the federal energy which commission for manipulating electricity prices in california and the midwest. last month they agreed to pay $1 billion to regulators, traders acting recklessly in the london oil scandal and jp morgan was ordered to pay $300 million to customers hurt by illegal credit card debt collection. on wednesday the bank agreed to by $100 million to the commodities commission for the london deal. and the $13 billion penalty for selling bad mortgage bonds to invest juniors. it's close to $14 billion since july. they could face criminal charges over mortgage bonds and an investigation over practices in asia. >> let's break-in in john prior. he's been covering the settlement. when you hear about all of the fines adding up, you hear critics say the government has not done enough to crackdown on these banks. is this finally enough is this. >> well, that is the big question. the concern raised from the settlement and the ones that you mentioned is an interesting question. not only are these banks having failed, but they are too big to manage. the settlement that they have reached tentatively last nig
jp morgan. in july the bank was announced to by $410 million to the federal energy which commission for manipulating electricity prices in california and the midwest. last month they agreed to pay $1 billion to regulators, traders acting recklessly in the london oil scandal and jp morgan was ordered to pay $300 million to customers hurt by illegal credit card debt collection. on wednesday the bank agreed to by $100 million to the commodities commission for the london deal. and the $13 billion...
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Oct 21, 2013
10/13
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KPIX
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why would jp morgan agree to that? >> jp morgan tries thoord wrap it together and put a nice bow on it. the justice department wouldn't let them agree to a deferred prosecution agreement about the criminal charges. >> that's probably because it lends the suggestion they bought their way out of the problem, right? >> i think the justice department wants to show that it can be tougher than it has been in the past. they must believe, i believe the california u.s. attorneys, believe they have evidence whether e-mails or documents to show there might be in fact criminal behavior. we have to see october. that's what is driving the justice department to take a tough line on this. >> is most of this about companies jp morgan bought during the crisis that came about in 2008? >> this is a great point. what jamie dimon and jp morgan executives have us believe that this was a result of buying bear staerns in 2008. i'm hearing the majority of this may be from jp morgan chase's own behavior itself. they've been trying to have people
why would jp morgan agree to that? >> jp morgan tries thoord wrap it together and put a nice bow on it. the justice department wouldn't let them agree to a deferred prosecution agreement about the criminal charges. >> that's probably because it lends the suggestion they bought their way out of the problem, right? >> i think the justice department wants to show that it can be tougher than it has been in the past. they must believe, i believe the california u.s. attorneys,...
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Oct 21, 2013
10/13
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FOXNEWSW
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jp morgan chase has agreed to settle a large sum for questionable security backed changes. lauren simonetti from the fox business network is here to explain. >> looks like jp morgan chase agreed to pay 13 billion to settle allegations surrounding the way it handled mortgage packed securities for the lead up in the 2008 financial crisis. the deal is not yet final but 9 million of the 13 billion to cover penalties and fines. the remaining would go to relief for struggling home owners. they will fine bank of america for 6 million in the role for misleading angs agencies. both are setting aside 10s of billions of dollars for legal aid sometimes that's more than they are bringing in. the bank could be taken apart disastrous for consumer and businesses that rely on chase for loans. a black eye for microsoft the company is pulling latest dwoins update called windows rk 1. the snafoo is a big embarrassment for can psych soft. the surface tablet was hardly a hit. the next edition the surface 2 come out tomorrow. gravity for the third week in a row took in another 31 million over the
jp morgan chase has agreed to settle a large sum for questionable security backed changes. lauren simonetti from the fox business network is here to explain. >> looks like jp morgan chase agreed to pay 13 billion to settle allegations surrounding the way it handled mortgage packed securities for the lead up in the 2008 financial crisis. the deal is not yet final but 9 million of the 13 billion to cover penalties and fines. the remaining would go to relief for struggling home owners. they...
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Oct 21, 2013
10/13
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KICU
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jp morgan reportedly agrees to pay $4 billion dollars for misleading the government about the qaulity of home loans it sold to fannie and freddie just before the housing crisis. and, an environmental group in lousiana says oil gunk is still coming to the shore in the gulf of mexico --3 years after the bp oil spill. bp claims the 1 million pounds of oily material could be from another source. larry shover of sfg alternatives joins us for an early look on this monday morning. good morning larry. > >good morning. > >we have a jobs number tuesday to get ready for. what's the market telling you? > >the market's saying they're gonna discount whatever the number is because of the government shutdown. the numbers might not be full of clarity until december. however, they are looking for 180 thousand job ads and an unchanged unemployment rate. > >is the market impressed with the growth numbers coming out of china? we had that gdp last week. > >yeah, the numbers were very impressive to the marketplace. we were overwhelmed with the whole government shutdown thing but behind the scenes, the numbe
jp morgan reportedly agrees to pay $4 billion dollars for misleading the government about the qaulity of home loans it sold to fannie and freddie just before the housing crisis. and, an environmental group in lousiana says oil gunk is still coming to the shore in the gulf of mexico --3 years after the bp oil spill. bp claims the 1 million pounds of oily material could be from another source. larry shover of sfg alternatives joins us for an early look on this monday morning. good morning larry....
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Oct 19, 2013
10/13
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KNTV
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. >>> jp morgan chase agreed to pay a $13 billion fine over mortgage practices that led to the financial crisis. it is the largest amount ever paid by a u.s. company but doesn't prevent the company from pursuing criminal charges. the fine includes $4 billion in relief for struggling homeowners. >>> overseas an attack in syria. evidence that extremist groups may be stepping up activity near damascus. a suicide car bomber attacked a checkpoint during a rebel assault killing at least 16 soldiers. the assault was led by a group linked to al qaeda. the syrian government called it a terrorist attack. >>> in australia an epic battle waged against some of the first wildfires the country has seen. does more than 1500 firefighters battled dangerous condition cans. gabrielle boyle from 7 network has more on this tonight. she's at a rural fire service command center outside sydney. >> reporter: carl, we are at the headquarters, the control center, the nerve room where the operation and response to fires across new south wales is being coordinated. it is a massive operation. this is a major fire even
. >>> jp morgan chase agreed to pay a $13 billion fine over mortgage practices that led to the financial crisis. it is the largest amount ever paid by a u.s. company but doesn't prevent the company from pursuing criminal charges. the fine includes $4 billion in relief for struggling homeowners. >>> overseas an attack in syria. evidence that extremist groups may be stepping up activity near damascus. a suicide car bomber attacked a checkpoint during a rebel assault killing at...
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Oct 21, 2013
10/13
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WTTG
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jp morgan chase agreed to pay the government $13 million to resolve the banking giant's mortgage business. the justice department says the settlement only applies to certain time frames and investigations. it does not cover a separate ongoing federal criminal investigation. the deal includes $9 billion in fines and penalties and $4 billion in con assume mer relief, such as loan modifications. the final details of the deal are expected to come out within the coming days. >>> bank of america is considering a new account for customers which would be free of overdraft fees. it would automatically prevent customers from withdrawing more money than they have in their accounts. seems like a good idea doesn't it? the bank stops customers from overdrawing at the point of sale if they don't have the funds, but customers can still overdraw using other transactions such as automatic bill payments and checks. the bill charges a fee each time the account is overdrawn. bank of america will still offer its existing checking account with overdraft protection. >>> the clock is ticking if you need to book a
jp morgan chase agreed to pay the government $13 million to resolve the banking giant's mortgage business. the justice department says the settlement only applies to certain time frames and investigations. it does not cover a separate ongoing federal criminal investigation. the deal includes $9 billion in fines and penalties and $4 billion in con assume mer relief, such as loan modifications. the final details of the deal are expected to come out within the coming days. >>> bank of...
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Oct 18, 2013
10/13
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ALJAZAM
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. >>> on friday the jp morgan chase tentatively agreed to pay $4 billion to settle claims by sally may and freddie mac. they suffered large losses when the bubble burst. the losses were so big that the government stepped in and took over fanny and freddy back in 2008. we'll stay on top of those stories. but the fact that the market may be cooling down now may be welcomed news. not for some. hoping to sell their home for $1.5 million, but they fear they won't get that amount in today's market so they lowered their price expect station by $100,000 to attract a buyer. they're joining us from mound, minnesota. thank you for being with us. >> thank you. >> thank you. >> you have a lovely house. i can see the lake behind it. i think it's an important lesson because we talk about the average price of a house in america. yours is many times the value of the average house, but you felt this increasing market you would be able to sell it. what happened? >> well, i think the housing market in minneapolis has changed. if i go back historically the homes that we have been involved with, we've been
. >>> on friday the jp morgan chase tentatively agreed to pay $4 billion to settle claims by sally may and freddie mac. they suffered large losses when the bubble burst. the losses were so big that the government stepped in and took over fanny and freddy back in 2008. we'll stay on top of those stories. but the fact that the market may be cooling down now may be welcomed news. not for some. hoping to sell their home for $1.5 million, but they fear they won't get that amount in today's...
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Oct 25, 2013
10/13
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ALJAZAM
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jp morgan chase has agreed to pay $5.1 billion in penalties for bad home loans before the housing bubble burst. it's reported to be a bigger agreement that between the government and the bank ceo jamie dimon. it could end up costing jp morgan $13 billion. >>> detroit is for sale to the highest bidder, well sort of. the bankrupt city is auctions off 19,000 foreclosed and abandoned properties. one man's commitment to make sure that local residents have a shot at buying the properties before big account investors sweep in. what happens when social media uncovers unheard, fascinating news stories? it drives discussion across america. >> share your story on tv and online. >> one of the largest land sales in the world are wrapping up in michigan. auctioning off 19,000 foreclosed properties online. most delinquent in paying taxes for three years. blighted structures, vacant lats, industrial buildings, homes that are practically move-in ready. the minimum bid is $500. the goal rejuvenate detroit and generate a little money for the struggling city. around 9,000 properties already have been sold,
jp morgan chase has agreed to pay $5.1 billion in penalties for bad home loans before the housing bubble burst. it's reported to be a bigger agreement that between the government and the bank ceo jamie dimon. it could end up costing jp morgan $13 billion. >>> detroit is for sale to the highest bidder, well sort of. the bankrupt city is auctions off 19,000 foreclosed and abandoned properties. one man's commitment to make sure that local residents have a shot at buying the properties...
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Oct 26, 2013
10/13
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KTVU
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jp morgan chase has agreed to pay $5.9 million to settle claims about risky mortgage securities. p morgan was accused of misleading the two agencies about the real value of the mortgage securities before the crash. this deal is separate from a still unresolved issue with the justice department that could cost jp morgan another 13 billion dollars. >>> and wall street ended the week with gains. the nasdaq added 41. positive earnings from amazon and microsoft led stocks higher. >>> an incredible story about a bay area athlete makes toilet makes -- athlete makes it to the big screen. >> a livermore man has his name in lights, the inspiring story next. >>> and a s.w.a.t. team has surrounded -- >>> returning now to our breaking news. s.w.a.t. teams have surrounded a house in a sacramento suburb of roseville tonight. they're looking for a man who is believed armed and dangerous. >> a man is believed to be inside after injurying an officer and injurying three others. >> reporter: in the past half an hour, we've been seeing a little bit of movement down farther down the block toward those
jp morgan chase has agreed to pay $5.9 million to settle claims about risky mortgage securities. p morgan was accused of misleading the two agencies about the real value of the mortgage securities before the crash. this deal is separate from a still unresolved issue with the justice department that could cost jp morgan another 13 billion dollars. >>> and wall street ended the week with gains. the nasdaq added 41. positive earnings from amazon and microsoft led stocks higher....
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Oct 26, 2013
10/13
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jp morgan chase has agreed to pay $5.9 million to settle claims about risky mortgage securities. was accused of misleading the two agencies about the real value of the mortgage securities before the crash. this deal is separate from a still unresolved issue with the justice department that could cost jp morgan another 13 billion dollars. >>> and wall street ended the week with gains. the nasdaq added 41. positive earnings from amazon and microsoft led stocks higher. >>> an incredible story about a bay area athlete makes toilet makes -- athlete makes it to the big screen. >> a livermore man has his name in >>> returning now to our breaking news. s.w.a.t. teams have surrounded a house in a sacramento suburb of roseville tonight. they're looking for a man who is believed armed and dangerous. >> a man is believed to be inside after injurying an officer and injurying three others. >> reporter: in the past half an hour, we've been seeing a little bit of movement down farther down the block toward those bright lights. that is where this scene is. where this suspected gunman is inside a
jp morgan chase has agreed to pay $5.9 million to settle claims about risky mortgage securities. was accused of misleading the two agencies about the real value of the mortgage securities before the crash. this deal is separate from a still unresolved issue with the justice department that could cost jp morgan another 13 billion dollars. >>> and wall street ended the week with gains. the nasdaq added 41. positive earnings from amazon and microsoft led stocks higher. >>> an...
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Oct 26, 2013
10/13
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ALJAZAM
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jp morgan chase has agreed to pay $5.1 billion in penalties for bad home loans before the housing bubble burst. it's reported to be a bigger agreement that between the government and the bank ceo jamie dimon. it could end up costing jp morgan $13 billion. >>> detroit is for sale to the highest bidder, well sort of. the bankrupt city is auctions off 19,000 foreclosed and abandoned properties. one man's commitment to make sure that local residents have a shot at buying the properties before big account investors sweep in. >> every morning from 6 to 10am al jazeera america brings you more us and global news than any other american news channel. find out what happened and what to expect. >> start every morning, every day, 6am to 10 eastern with al jazeera america. all next week america tonight investigates the campus rape crisis. >> serial rape is the norm on college campuses. >> i know that when i did report, i was blamed. >> then on friday, november 1st at nine eastern, we open up the conversation in a live town-hall event. sex crimes on campus, a special week of coverage and live town-hal
jp morgan chase has agreed to pay $5.1 billion in penalties for bad home loans before the housing bubble burst. it's reported to be a bigger agreement that between the government and the bank ceo jamie dimon. it could end up costing jp morgan $13 billion. >>> detroit is for sale to the highest bidder, well sort of. the bankrupt city is auctions off 19,000 foreclosed and abandoned properties. one man's commitment to make sure that local residents have a shot at buying the properties...
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Oct 19, 2013
10/13
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. >>> another fine for jp morgan chase, it's agreed to pay the federal housing agency a whopping $4 billion in penalties. "the wall street journal" said they reached that for miss leading the mortgage agency for risky home loans it bundled up and sold as securities during the housing boom. less than the 6 billion the housing agency was looking for. >>> if you've ever been slammed by overdraft fees by your bank, help may be on the way. bank of america is planning to offer a type of checking account that will prevent customers from going over account balances when making an atm withdraw or automatic online payment. >>> another setback for the troubled rollout of washington's online health care exchanges part of the affordable care act. some big health insurance companies got faulty data from the marketplace, enough to hamper their ability to even handle the modest number of enrolling that signed up so far. spouses reported as children, missing data field and questionable eligibility determination. >>> still ahead, home flipping is back in a big way and this time it's different and big returns
. >>> another fine for jp morgan chase, it's agreed to pay the federal housing agency a whopping $4 billion in penalties. "the wall street journal" said they reached that for miss leading the mortgage agency for risky home loans it bundled up and sold as securities during the housing boom. less than the 6 billion the housing agency was looking for. >>> if you've ever been slammed by overdraft fees by your bank, help may be on the way. bank of america is planning to...
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Oct 22, 2013
10/13
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ALJAZAM
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. >>> there are reports that jp morgan has tentatively agreed to pay the largest settlement ever betweenthe u.s. government. the multi billion dollars deal would put an end to federal investigations in to the bank's sale of bad mortgages, here is more. >> reporter: at $13 billion the tentative deal reportedly being discussed between jp morgan and the department of justice to settle civil claims over mortgage practices would be a record. amounting to more than half of the bank's total profits last year. >> they have actually reserved more than that, so that's some indication that they are at least anticipating the possibility of paying more. >> reporter: the deal being discussed reportedly will not settle a criminal probe in to the bank albuquerque's mortgage practices. >> while they are quite willing to pay billions of dollars of share hoerl money to maksharehoe allegations go away. i think they are afraid of a criminal investigation and what that might reveal and for the prospects that some of their executive might go held criminally liable. >> reporter: in addition to it's a mortgage p
. >>> there are reports that jp morgan has tentatively agreed to pay the largest settlement ever betweenthe u.s. government. the multi billion dollars deal would put an end to federal investigations in to the bank's sale of bad mortgages, here is more. >> reporter: at $13 billion the tentative deal reportedly being discussed between jp morgan and the department of justice to settle civil claims over mortgage practices would be a record. amounting to more than half of the bank's...
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Oct 21, 2013
10/13
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jp morgan chase agreed to pay $13 billion for its role in the housing collapse. warn additional setments with other big banks are down the road and the feds are still not rowling out affirmative action. >>> reports that the nsa spied on more than 70 million french phone calls in one month. france is one of america's closest allies, the u.s. ambassador pledged to hold diplomatic talks with officials on this issue. >>> last night in indianapolis, on sunday night football, the fans welcomed peyton manning of the broncos back to lucas oil field, the place peyton built. the qb who replaced peyton, led his team to a 39 p-33 win. >> did you have money on the game? >> i'm guessing it's you. >> afghan officials say four people are dead after a u.s. drone strike near the afghan/pakistan border, the fifth air strike over the past four days, coming amid several reports criticizing the american drone program. at least 450 civilians have been kald by drones in pakistan and yemen since 2004 claiming the cia created an almost insurmountable obstacle to transparency on civilian d
jp morgan chase agreed to pay $13 billion for its role in the housing collapse. warn additional setments with other big banks are down the road and the feds are still not rowling out affirmative action. >>> reports that the nsa spied on more than 70 million french phone calls in one month. france is one of america's closest allies, the u.s. ambassador pledged to hold diplomatic talks with officials on this issue. >>> last night in indianapolis, on sunday night football, the...
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Oct 24, 2013
10/13
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. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >> billion settlement with the government to settle for bad loans. >> they say jp morgan willingly misled people by backing lisky mortgages. >> jon: risky mortgages. it seems like when tom cruise was in that movie and they packaged the loans with a sultry derive actives trader. i remember her. that's why so many traders work in a button down and underpants. $13 billion what lucky bastards are getting a bite after this cheese. $6 billion goes towards investor compensation $4 billion for homeowner relief and $2 billion in penalty fines but the government has to pay jp morgan's $8 settlement processing fees. damn you bank fees. damn you and your bank! you know who must be thrilled to hear this news financial and lives and business reporters who after years of covering corporate misdeeds are seeing justice served. >> what is up with this incredible $13 billion shake down of jp morgan. >> the justice department feels like it needs scalps. the obama administration is at war. >> is it a witch h
. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >> billion settlement with the government to settle for bad loans. >> they say jp morgan willingly misled people by backing lisky mortgages. >> jon: risky mortgages. it seems like when tom cruise was in that movie and they packaged the loans with a sultry derive actives trader. i remember her. that's why so many traders work in a button down and underpants. $13 billion what...
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Oct 20, 2013
10/13
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CNN
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all right jp morgan chase has agreed to paid $14 billion to settle a civil suit of knowingly selling bad mortgages to investors in the run up to the 2008 financial crisis. it doesn't shield the bank from possible criminal prosecution. in california a transit train struck and killed two workers. officials say they were looking into a possible dip in the rail when it was hit saturday. the accident comes as bart's union workers remain on strike regarding a number of union workers. newly elected pakistani prime minister is set to meet with president obama at the white house. official cites improved relations between the two countries. tensions escalate d. >> okay the first numbers on the affordable care act. sign ups are in and despite website glitches half a million people have made it through the online process. republican senator ted cruz said the buck needs to stop at the top of health and human services. some of your colleagues are saying she should resign do you agree with that? >> absolutely. why? because the program that she has implemented is a disaster. it is not working it is
all right jp morgan chase has agreed to paid $14 billion to settle a civil suit of knowingly selling bad mortgages to investors in the run up to the 2008 financial crisis. it doesn't shield the bank from possible criminal prosecution. in california a transit train struck and killed two workers. officials say they were looking into a possible dip in the rail when it was hit saturday. the accident comes as bart's union workers remain on strike regarding a number of union workers. newly elected...
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Oct 25, 2013
10/13
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COM
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. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >>13 billion settlement with the government to settle for bad loans. >> they say jp morgan willingly misled people by backing lisky mortgages. >> jon: risky mortgages. it seems like when tom cruise was in that movie and they packaged the loans with a sultry derive actives trader. i remember her. that's why so many traders work in a button down and underpants. $13 billion what lucky bastards are getting a
. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >>13 billion settlement with the government to settle for bad loans. >> they say jp morgan willingly misled people by backing lisky mortgages. >> jon: risky mortgages. it seems like when tom cruise was in that movie and they packaged the loans with a sultry derive actives trader. i remember her. that's why so many traders work in a button down and underpants. $13 billion...
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Oct 29, 2013
10/13
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COM
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. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >>13 billion settlement with the government to settle for bad loans. >> they say
. >> jp morgan and the justice department have tentatively agreed to a d.l. 13 billion settlement. >>13 billion settlement with the government to settle for bad loans. >> they say
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Oct 22, 2013
10/13
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CNNW
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jp morgan's ceo jamie diamond agreed on a phone call with eric holder to pay $13 billion in fines and. this is all related to mortgage-backed securities and bad mortgages. it's a hell of a lot of money, but j.p. morgan can afford it which brings us to 26 billion. that's how much they made last year. so the fine will take about half what they made. if that makes you feel better, maybe it shouldn't. just because they can afford it doesn't make it right. going after companies of course should be based on wrongdoing, not who has the money. and the truth in the case of jp morgan's $13 billion fine is that many of the problem mortgages that they're paying for now stem from two acquisitions the bank made during the depth of the financial crisis. they bought bear stearns and washington mutual. these were hasty deals made by uncle sam. many would say the fair word is forced by uncle sam. if you don't buy these, you're going to jeopardize the american financial system. it's your patriotic duty, guy, do it. j.p. morgan didn't have the luxury of time to do due diligence at the time. it didn't hav
jp morgan's ceo jamie diamond agreed on a phone call with eric holder to pay $13 billion in fines and. this is all related to mortgage-backed securities and bad mortgages. it's a hell of a lot of money, but j.p. morgan can afford it which brings us to 26 billion. that's how much they made last year. so the fine will take about half what they made. if that makes you feel better, maybe it shouldn't. just because they can afford it doesn't make it right. going after companies of course should be...
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Oct 21, 2013
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the biggest fine paid by a company to settle the -- talking about jp morgan chase tentatively agreed is how it breaks down. $9 billion in fines and penalties and $4 billion in consumer relief and include home loan modifications for people in their homes and have loans and settles civil charges and does not end the criminal investigation. jamie dimon pushed for a nonprosecution agreement but could not get it. we are told it came town to personal discussions and meetings with eric holder and jamie dimon. many of the mortgage-backed securities in question are required at the request of the government. remember in the financial crisis in 2008? jp morgan stepped in and bought baird stearnes. they are written either a lot of bad mortgages or sold them to the government and that is the problem. the government taxpayers -- you and i, taxpayers, paid a huge bailout for fannie mae and freddie mac to absorb this garbage that were written and, you know, -- crazy. any way jp morgan has paid a billion in fines. this is a very bad year for jamie dimon. they paid $410 million for electricity prices
the biggest fine paid by a company to settle the -- talking about jp morgan chase tentatively agreed is how it breaks down. $9 billion in fines and penalties and $4 billion in consumer relief and include home loan modifications for people in their homes and have loans and settles civil charges and does not end the criminal investigation. jamie dimon pushed for a nonprosecution agreement but could not get it. we are told it came town to personal discussions and meetings with eric holder and...
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Oct 21, 2013
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morgan choice who agreed to pay $19 billion. it includes $9 with billion in fines and penalties, $4 billion in consumer relief, such as loan modifications. jpal criminal investigation. >>> maryland state police said too many drivers are no following the state's move over law enacted to protect them and other emergency workers. now there's going to be a crack down. mike schuh is live outside state police head quarters in pikesville. good morning. >> reporter: good morning. the law has been on the books for 3 years. now after a couple of high profile incidents the troopers are being directed to better enforce it. >> this is police video. look to the left. here , i'll start the video again. a maryland state trooper is nearly killed as a driver fails to move over. >> i've been hit by a car. >> last year maryland troop er david aveo survived this accident but was left with many complications. >> there doesn't seem like there's light at the end of the tunnel but i'm able to talk. >> trooper jacqueline kline was hit as she walked along the shoulder to assist an officer in a traffic stop. >> she actually broke the rear wind shield and kit that k-9
morgan choice who agreed to pay $19 billion. it includes $9 with billion in fines and penalties, $4 billion in consumer relief, such as loan modifications. jpal criminal investigation. >>> maryland state police said too many drivers are no following the state's move over law enacted to protect them and other emergency workers. now there's going to be a crack down. mike schuh is live outside state police head quarters in pikesville. good morning. >> reporter: good morning. the law...
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Oct 21, 2013
10/13
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CNBC
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agree with it. >> i don't think anybody is giving these guys a chance to have an interesting quarter. >> then from hero to zero, jp morgan reaching a settlement with the justice department. but? >> nobody puts baby in a corner. >> nice. >> it doesn't look like shareholders are worried yet. we have got the jp morgan story next. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. >> so i thought that was an interesting point as we see netflix shares and how they expect margin improvement. that is pretty much the same as last year. why not more. they could show gains over the prior year. >> seems to me almost like an acknowledgment. >> when the pressure is on and the stocks are depressed. he shouldn't be doing either. >> it's a great time to jawbone
agree with it. >> i don't think anybody is giving these guys a chance to have an interesting quarter. >> then from hero to zero, jp morgan reaching a settlement with the justice department. but? >> nobody puts baby in a corner. >> nice. >> it doesn't look like shareholders are worried yet. we have got the jp morgan story next. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see...