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Breakingviews: Haggling over JPMorgan’s bill

Thursday, Sep 26, 2013 - 03:26

Sept. 26 - Reynolds Holding and Breakingviews editors discuss the bank’s talks to settle state and federal mortgage probes for as much as $11 billion and what that could mean for CEO Jamie Dimon.

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What the bill for JPMorgan's alleged mortgage misdeeds is rising to lofty levels the latest talk is. A settlement upwards of around eleven billion dollars and as we speak. CEO Jamie Dimon has reportedly meeting with the US attorney general Eric Holder. Two questions one is the bill -- threat we is that the alleged wrong doing and what does this mean for mister Dodd and Richard. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- It used to be any any fine was that rise was that -- -- -- -- -- like a billion the floors everything so this -- billion isn't multiples that -- this thing started -- -- it was reported to -- three -- -- seven and then -- eleven. And of course it depends how much. You managed to settle -- right if you really could settle everything bright that it asset value in paying very differently to them but the other theoretically they're. Question that the board now -- to start asking as consultants go all right. To put it I guess in the framework of a biology is here Jamie Dimon has been an asset for the for the bank the question is whether or not it's now become -- ability and you know of exit clearances -- are right now. But the fact of the matter is the legal bills that JP JPMorgan that the -- are really -- -- over the last years here -- -- eleven -- you're talking about -- The total -- over thirty billion -- -- an -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- More profitable than. Other things -- haven't been on that sort of analysis you could say -- -- and a great job of that and I think the problem -- that the question might that the board might bills himself as well. Some of this regulation tension comes as a reaction it's. Pretty clear. To the fact that Jamey diamond for a long time it was a thorn in the side of regulates especially since the crisis saying that we managed this well -- over regulating its -- make it difficult for you devoted huge portions of his annual letter to shareholders like public like ten renting it exclusively going to existing regulations has a right to question is if the bill is eleven billion with Jamie you know what would it be it would Napster is that Pat Summitt who. Would it but I don't know politics. Right except and you're -- and you mix of other comparisons to look at you know Bank of America which seemed to be a complete -- their legal bills have been less to -- Up over certain block of time. He also look at Bob dart -- Barkley who left after a fine of less than 500 million for the wired or scared about credit. Barkley performance was nowhere near close to -- to ignore it and then under Jamie that's not an apples to apples and it hurts me either but when you start to grapple with things together. Why the Diamondbacks a good point out and a lot of this stodgy behavior occurred that no one who would Bear Stearns before JPMorgan. Took those right ends -- as always thanks look you know you got we did you guys have favorite. Right well you know it's letting people it's say -- -- slightly different from saying the wrong day wasn't -- his walks which we -- -- slightly more than just the right. It's fascinating stuff this is a fast moving story. In the meantime stay tuned for more breaking views tomorrow.

Breakingviews: Haggling over JPMorgan’s bill

Thursday, Sep 26, 2013 - 03:26

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