SoylentNews is people
SoylentNews is powered by your submissions, so send in your scoop. Only 15 submissions in the queue.
SoylentNews
Bloomberg reports that a settlement has been reached after the U.S. Department of Justice investigated indications that
[...] JPMorgan employees at the bank's Hong Kong subsidiary sought to maximize profits by providing jobs and internships to children of individuals it hoped to do business with.
The settlement provides that the bank will pay around $264 million, and that the investigation will be ended with no prosecution.
"[A]t least five other" undisclosed banks are under investigation for possible violations of the Foreign Corrupt Practices Act.
This discussion has been archived.
No new comments can be posted.
JPMorgan Chase to pay ~$264 Million in Settlement
|
Log In/Create an Account
| Top
| 25 comments
| Search Discussion
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
* m2 stares at the monitor... it looks like a hamburger...
m2 - that's a bad sign
(Score: 0) by Anonymous Coward on Friday November 18 2016, @07:21PM
Your begging the question is tiresome. Quit it with the bullshit virtue signaling already.
Your cynical disinterest in holding institutions accountable is exactly what gives them permission to fail the public interest.
(Score: 1) by khallow on Friday November 18 2016, @08:18PM
As to your accusation of begging the question, why is the SEC underfunded in the wake of the 2007-2008 real estate crisis? Isn't it peculiar in the wake of the 9/11 attacks that any law enforcement agency is underfunded after a huge crisis? I think that establishes that the primary role of the SEC isn't, as intended by the lawmakers, to enforce laws.
(Score: 2) by bob_super on Friday November 18 2016, @08:52PM
Technically, the SEC does enforce laws. That's why the people who come to power since 2010 have decided to defund it, like they will now defund the EPA.
It doesn't mean that the people working for the agency itself are not motivated and competent, just actors playing a lie for the greater good.
The Republicans are acting as if Dodd-Frank had been written by evil commies trying to kill the USA (who signed it?), and not by a bunch of lobbyists for the banks, who made sure there are enough loopholes to do profits-as-usual despite the appearances that consumers are protected from another subprime-like crisis ...
Have they seen the quarterly benefits of the banks? The amount of aplomb (or denial of reality) required to be a Republican member of congress never ceases to amaze me.