Co-Conspirators' TO CRIME/s Against the American People: The New York Times Et Al

The New York Times has been a great supporter of wars, wars without end and then some.

FRAUDCLOSURE was to steal all of America so the wars could go on forever and ever.  "Jr" said so, in our life times we get to have HIS Christian Crusade forever and ever.

What do we get with the BANKING FRAUD FROM THE NYT?  Quite the same agenda AS wars without end since the end game is all the same.  PORTFOLIO RETIREMENTS FOR THE JUDICIAL TANKED IN THE WARS WITHOUT END, TOO.

Now at long last can we expect some JUSTICE FOR REAL?  LAWYERS NOT LIEYERS IN AMERICA come on when do the eyelids awaken from narcolepsy and see the reality enema that has been given to U$ now, SEE KAREN HUDES NYT

http://theartof12.blogspot.com/2013/11/karen-hudes-warned-currency-wars-bit.html

and also see MICHAEL PINES ON DANIEL RATIGAN <<

COUNTLESS THOUSANDS OF REPORTERS, CAN AND MUST DO BETTER TO REMAIN THE 'VOICE' OF AMERICA!

JPMorgan Pays

By THE EDITORIAL BOARD

Published: November 20, 2013 

The long-awaited $13 billion settlement with JPMorgan Chase over allegations of misrepresentation in the sale of mortgage securities is hardly a cure-all for the damage inflicted on homeowners, investors and the economy by fraud, predation and other wrongdoing during the bubble. It is, however, a likely precursor of similar payouts from other banks, and it provides at least some cash for investors and a measure of relief for struggling homeowners and communities. Where it falls short is in its failure to hold individuals accountable.

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In an important step, JPMorgan acknowledged that its employees knowingly packaged toxic loans into mortgage-backed securities and sold them to unwitting investors. JPMorgan also acknowledged similar conduct by Bear Stearns and Washington Mutual, two banks it bought during the crisis..  These acknowledgments represent a level of accountability missing from other settlements. The settlement leaves open the possibility of future civil and criminal charges against individuals, as well as criminal charges against the bank. But the bank did not admit any violations of law and no individuals have been identified, except by titles like “executive director” and “managing directors.”

A good deal of credit for the settlement belongs to New York’s attorney general, Eric Schneiderman, without whom there may never have been a payout from JPMorgan at all. In 2012, Mr. Schneiderman refused to go along with a plan by federal and state authorities to draft one master settlement with several big banks, including JPMorgan Chase, for a wide range of mortgage violations. 

With the support of other holdout state attorneys general, Mr. Schneiderman was able to focus the terms of the master settlement on foreclosure abuses, leaving government investigators free to look into violations related to mortgage securities. More important, his stance challenged a reluctant Obama administration to expand its moribund investigative efforts. 

At $13 billion, the settlement is the largest ever between government officials and a single company, but it represents only about half of the bank’s profits in 2012 and much less than the additional revenue generated since its purchases of Bear Stearns and Washington Mutual. It is a black eye for the bank, but not particularly punitive. And it does not preclude JPMorgan from deducting most of the cash settlement from its taxes. 

Of the total, JPMorgan will pay $9 billion to federal and state agencies and other investors who lost money on the securities in question, including a $2 billion fine for dubious securities sold by JPMorgan itself. New York’s share of the cash is $613 million, which Mr. Schneiderman has said will help pay for legal counseling for families facing foreclosure, restore blighted neighborhoods and assist in housing needs related to Hurricane Sandy. 

The remaining $4 billion of the payout is not cash, but relief in that amount to homeowners and communities. It could be less than meets the eye because JPMorgan will get credit for relief it probably would have provided anyway. New York’s share of the relief will amount to $400 million, which, if properly administered, could help many families keep their homes. 

In all, the settlement is surely more than JPMorgan ever wanted to pay. Just as surely, it puts other banks on notice.