JP Morgan in record $13bn settlement with US regulators

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“2011 and Beyond” - What you are seeing, and why - Jan 16, 2011 (Kryon channelled by Lee Carroll) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

"The Great Escape" - Mar 11, 2017 (Kryon Channelling by Lee Carroll)

“… The Fall of Many - Seen It Yet?

You are going to see more and more personal secrets being revealed about persons in high places of popularity or government. It will seem like an epidemic of non-integrity! But what is happening is exactly what we have been teaching. The new energy has light that will expose the darkness of things that are not commensurate with integrity. They have always been there, and they were kept from being seen by many who keep secrets in the dark. Seen the change yet?

In order to get to a more stable future, you will have to go through gyrations of dark and light. What this means is that the dark is going to be revealed and push back at you. It will eventually lose. We told you this. That's what you're here for is to help those around you who don't see an escape from the past. They didn't get their nuclear war, but everything else is going into the dumper anyway. … “

Tuesday, November 19, 2013

JP Morgan in record $13bn settlement with US regulators

BBC News, 19 November 2013

The settlement is the largest ever between a corporation and the US government

Related Stories

US bank JP Morgan has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis.

It is the largest settlement ever between the US government and a corporation.

About $4bn of the settlement is to go to homeowners hurt by JP Morgan's practices.

As part of the settlement, the bank acknowledged it made "serious misrepresentations to the public".

"The conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown," said Attorney General Eric Holder in a statement.

After the relief given to homeowners, $9bn will be paid to settle federal and state civil claims relating to misleading mortgage securities sold by the bank.

Some of that will be given to investors who lost money.

Faulty mortgages

JP Morgan has worked hard to put the mortgage crisis of 2006-2007 behind it.

The bank has been under investigation for selling low-quality mortgage-backed securities to investors who were unaware that the securities often contained faulty mortgages.

New York Attorney Eric Schneiderman
tweeted a picture of him signing the
agreement

According to the statement from the Department of Justice: "JPMorgan employees knew that the loans in question did not comply with those guidelines and were not otherwise appropriate for securitization, but they allowed the loans to be securitized - and those securities to be sold - without disclosing this information to investors."

A large portion of the mortgages under investigation by authorities were bought by JP Morgan when it acquired banks Bear Stearns and Washington Mutual at the height of the financial crisis of 2008-2009.

It is hoped that this fine will settle all of the civil penalties arising from those faulty sales, although criminal charges could still remain.

Sharp fall

The fine represents a sharp fall for JP Morgan, known for its "fortress balance sheet" and traditionally sterling reputation on Wall Street.

Boss Jamie Dimon was also a favourite with politicians in Washington, and seemed to help steer the bank through the worst of the financial crisis and its aftermath.

But that all seems to have changed in recent months.

This record fine follows an announcement a few weeks ago that a separate regulator, the Federal Housing and Finance Authority, had reached a $5.1bn settlement with the bank.

Last month, the bank agreed to pay more than $1bn to help it end various investigations into its 2012 "London whale" trading debacle, which cost the bank more than $6bn and raised questions about its oversight procedures.

The firm also reported a rare loss last quarter, having set aside an additional $9bn to help it deal with its mounting legal troubles.

In total, JP Morgan has had to set aside a total of $23bn to help it work through its many investigations by regulators in the US and abroad.

Worst behind them

Nonetheless, investors seem to continue to think that the bank will emerge relatively unscathed from the fines.

"The share price is bumping up against a ten year high," Duff McDonald, author of a book on JP Morgan, told the BBC.

"While no one likes a fine especially of this magnitude, I think shareholders are responding positively to it because it's resolving some uncertainty around the company."

While the settlement with the US Justice Department does mean that the bank has put the worst of its expected fines behind it, nonetheless, there are still nine ongoing investigations by regulators into practices at the bank.

These investigations include that bank's hiring practices in China as well as accusations that bankers at JP Morgan manipulated the Libor benchmark interest rate.

Related Article:

JP Morgan agrees $4.5bn mortgage settlement

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Tuesday, November 19, 2013

JP Morgan in record $13bn settlement with US regulators

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