forcing JP to pay anyone holding any size metal or treasury note $1,000 would be better. government's gonna waste that fine on bureaucratic trash
The question is, how much did JPM profit from the market manipulation? I'd suspect it's upwards of $5+ Billion, given that the fine is $920 Million
Usually big corporate's cost of doing business when it comes to fines is better than 1/5th. I'd guess they made anywhere from 30-100 billion
“This record-setting enforcement action demonstrates the CFTC’s commitment to being tough on those who intentionally break our rules, no matter who they are. Attempts to manipulate our markets won’t be tolerated,” said CFTC Chairman Heath Tarbert.
Bull shit. Who went to.jail? Is Morgan still trading commodities?
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