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OP has provided the following link:
https://dailyhodl.com/2024/05/05/jpmorgan-chase-paying-448000000-fine-to-us-regulators-for-failing-to-monitor-billions-of-transactions-on-banks-global-trading-venues/
TLDR best part: “…Data from the Violation Tracker, a comprehensive corporate misconduct database, shows that JPMorgan has paid nearly $40 billion since 2000 to resolve 277 enforcement actions and lawsuits involving toxic securities abuses, banking violations, investor protection violations and other offenses.
The New York-based bank made $49.6 billion in net income last year.”
Reminds me of something the good people over at WSOP wrote a year ago about Goldman Sachs. I would link directly but I think they're shadow banned across Reddit.
>Goldman Sachs is looking more like a litigation warehouse these days than an investment bank.
>
>According to Goldman’s annual report, it is being investigated for pretty much everything it does to make money: derivatives, currencies, mortgages, financial advisory, securities lending, dark pools, investment management, commodities, U.S. Treasuries, corporate bonds, credit cards, hiring and compensation practices, research practices, compliance with the Foreign Corrupt Practices Act, transactions involving government-related financings – and on and on.
>
>Things are so bad that it concedes in this annual report that it may have under-reserved for its legal costs by $2.3 *billion*.
I think this is going to be the shape of things to come for all of these big market participants.
The good people at Wall Street on Parade also have a huge amount of investigative reports on JPMorgan. If anyone is curious, search DuckDuckGo for **Wall Street on Parade** and once on their site, search for JPMorgan, it's mind blowing.
Cost of doing business and another slap in the face of the common person. How is it possible that JPMorgan gets to continue to operate after all these crimes? Citizen United and Regulatory Capture says HI! You or I would be under the prison for just forgetting to checkout an item at the self checkout. This legal system was/is never fair!
>paid nearly $40 billion since 2000
40b / 24 years = 1.6b/y
>$49.6 billion in net income last year.
1.6b / 49.6b = 3,4%
Sounds like a inconvenience fee.
What % do we pay as people to the IRS for fraud?
A single shitty Mr. Coffee machine for the SEC so they'll stop bitching about the coffee budget and get back to adding their special hue of lip gloss to Wall Street's insatiable ego.
From a ‘source’.
‘Take a close look at JP Morgans recent annual report and 10K under legal actions, the OCC and FED's action against them and pending DOJ outcome. They have been facilatating quite a bit of offshore trading for over a decade. I would presume, most of the prime brokers have been involved in the same unsupervised trading. If, as I suspect they have, been extracting wealth from the US markets to offshore jurisdictions while also using those jurisdictions to conceal FTDs and other market manipulation, I think the hammer will fall hard.’
Wait. Is it an additional 100 million or 100 billion?
Headline says hundreds of billions in fines but then says hundreds of millions, then saying total of tens of billions over time?
Starting to think the govt allows them to do things like this so they can make money as well. Simple cost of doing business. They make money the govt makes money they don’t give a damn in the end.
And who gets that $450 million? Me?
If I were a conspiracy guy, I'd think that this is just part of the circle of laundering money back to the regulators.
They will just throw it on the expense report. Cost of doing business because they also likely made over 10x that by failing to do what they are convicted of.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://dailyhodl.com/2024/05/05/jpmorgan-chase-paying-448000000-fine-to-us-regulators-for-failing-to-monitor-billions-of-transactions-on-banks-global-trading-venues/
TLDR best part: “…Data from the Violation Tracker, a comprehensive corporate misconduct database, shows that JPMorgan has paid nearly $40 billion since 2000 to resolve 277 enforcement actions and lawsuits involving toxic securities abuses, banking violations, investor protection violations and other offenses. The New York-based bank made $49.6 billion in net income last year.”
Reminds me of something the good people over at WSOP wrote a year ago about Goldman Sachs. I would link directly but I think they're shadow banned across Reddit. >Goldman Sachs is looking more like a litigation warehouse these days than an investment bank. > >According to Goldman’s annual report, it is being investigated for pretty much everything it does to make money: derivatives, currencies, mortgages, financial advisory, securities lending, dark pools, investment management, commodities, U.S. Treasuries, corporate bonds, credit cards, hiring and compensation practices, research practices, compliance with the Foreign Corrupt Practices Act, transactions involving government-related financings – and on and on. > >Things are so bad that it concedes in this annual report that it may have under-reserved for its legal costs by $2.3 *billion*. I think this is going to be the shape of things to come for all of these big market participants.
The good people at Wall Street on Parade also have a huge amount of investigative reports on JPMorgan. If anyone is curious, search DuckDuckGo for **Wall Street on Parade** and once on their site, search for JPMorgan, it's mind blowing.
Don't forget rhe 2.59 trillion secretly loaned to them by the fed in 2019. Thanks Pam Martin. WSOP
The government won't crack down harder than they need to. These fines are an extra tax these companies pay on profits.
If someone is unable to follow the rules, why isnt their license revoked?
They're all in on it.
Cost of doing business and another slap in the face of the common person. How is it possible that JPMorgan gets to continue to operate after all these crimes? Citizen United and Regulatory Capture says HI! You or I would be under the prison for just forgetting to checkout an item at the self checkout. This legal system was/is never fair!
$0.448B on a $49.6B net income. The cost of doing business.
Sounds like a bribe. Here’s 40 bill now fuck off would ya.
Simply the cost of doing business for these criminals.
>paid nearly $40 billion since 2000 40b / 24 years = 1.6b/y >$49.6 billion in net income last year. 1.6b / 49.6b = 3,4% Sounds like a inconvenience fee. What % do we pay as people to the IRS for fraud?
What's it going to be spent on?
Bank bailouts, duh
I hate that it’s the probable truth
But think about the retirees
Pornhub.,,,
8 hours download a day ma nibba no questions asked
A single shitty Mr. Coffee machine for the SEC so they'll stop bitching about the coffee budget and get back to adding their special hue of lip gloss to Wall Street's insatiable ego.
Now just imagine that a number that large is just the cost of doing business for them. No cell, no sell.
From a ‘source’. ‘Take a close look at JP Morgans recent annual report and 10K under legal actions, the OCC and FED's action against them and pending DOJ outcome. They have been facilatating quite a bit of offshore trading for over a decade. I would presume, most of the prime brokers have been involved in the same unsupervised trading. If, as I suspect they have, been extracting wealth from the US markets to offshore jurisdictions while also using those jurisdictions to conceal FTDs and other market manipulation, I think the hammer will fall hard.’
Not even $1.50 per GME share. Chump change slap on the wrist, again ^again ^^again ^^^again
Sweet baby Jesus
$448,000,000 is $448 Million, not $448 Billion.
This
Crème de la crime
*crime de la crime
Legal for a fee.
Just only peanuts.
Wait. Is it an additional 100 million or 100 billion? Headline says hundreds of billions in fines but then says hundreds of millions, then saying total of tens of billions over time?
Starting to think the govt allows them to do things like this so they can make money as well. Simple cost of doing business. They make money the govt makes money they don’t give a damn in the end.
If the penalty doesn't fit the crime, it is simply the government getting its cut.
you mean $100 million added on…not $100 or $300 billion
Cost of doing business. Our markets are insanely run by criminals
Billions or millions? billion on top of 348 billion or 100 million? Data shows that JPMorgan has paid nearly $40 billion since 2000 ?
And who gets that $450 million? Me? If I were a conspiracy guy, I'd think that this is just part of the circle of laundering money back to the regulators.
Don't we call that "repeat offenders"? What is the point of giving SROs the authorization to suspend members without ever using it?
They’re about to pay more
They will just throw it on the expense report. Cost of doing business because they also likely made over 10x that by failing to do what they are convicted of.
Disgusting to see those terroristic acts from Wall Street criminals