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dimon and holder


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i wonder how much cash you have when you can pay a $9 billion fine and not really sweat it.

 

"But the idea that Holder had cracked down on Chase was a carefully contrived fiction, one that has survived to this day. For starters, $4 billion of the settlement was largely an accounting falsehood, a chunk of bogus "consumer relief" added to make the payoff look bigger. What the public never grasped about these consumer--relief deals is that the "relief" is often not paid by the bank, which mostly just services the loans, but by the bank's other victims, i.e., the investors in their bad mortgage securities."

 

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It's like our government is the most expensive hooker ever.

I doubt it. You can buy a congressman for surprisingly cheap. Anything in the low 6 figures and you've got them for life or at least for their time in office which is 2 years minimum. Eliot Spitzer probably spent more than that on his whores. A high end hooker can cost you $5-10k per night. Book them a couple times a month and by the end of the year you could have bought your own government official instead. ==

Edited by Count Orlok
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"But the idea that Holder had cracked down on Chase was a carefully contrived fiction, one that has survived to this day. For starters, $4 billion of the settlement was largely an accounting falsehood, a chunk of bogus "consumer relief" added to make the payoff look bigger. What the public never grasped about these consumer--relief deals is that the "relief" is often not paid by the bank, which mostly just services the loans, but by the bank's other victims, i.e., the investors in their bad mortgage securities."

 

 

my impression was that that 4 bil was taken off the original 13 bil, reducing their fine down to 9 bil. 

 

regardless, a lot of the issues were beyond my general knowledge. understanding high finance is not my thing.

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  • 3 weeks later...

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