Thursday, September 26, 2013

An offer he can refuse?

Jamie Dimon meets with shakedown artist Attorney General Eric Holder, who knows what Willie Sutton knew; banks are where the money is;
WASHINGTON—J.P. Morgan Chase ... & Co. Chief Executive James Dimon met with U.S. Attorney General Eric Holder on Thursday amid intensifying talks of a possible $11 billion settlement to avoid potential criminal and civil charges against the bank.
.... A person familiar with the meeting said the two men met to discuss terms of a potential deal for the bank, which is the target of multiple civil and criminal investigations.
....J.P. Morgan made an offer of $3 billion on Monday night to settle investigations of alleged past abuses in residential mortgage-backed securities—a figure that was rejected by Mr. Holder, according to people familiar with the discussions.
Just part of the political bargaining that gave us 2008's financial crisis. Calomiris and Haber, call your office.

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