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Pam and Russ Martens: Should JPM have gotten a second chance at Fed's stress test?
By Pam and Russ Martens
Wall Street on Parade
Friday, June 28, 2019
How many second chances should a criminal recidivist get?
JPMorgan Chase has logged in guilty pleas to three criminal felony counts in the past five years; it has a criminally-charged precious metals trader singing to the Feds currently as JPMorgan admits in regulatory filings that it's under a new criminal investigation in that matter; the bank has paid $36 billion in fines for wrongdoing since the financial crash, including $1 billion for trading exotic derivatives in London with bank depositors' money and losing at least $6.2 billion of those depositor funds (the London Whale scandal).
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And in just the past year it has proven that it's "game on" for more regulatory fines and illicit profits.
Despite all this, yesterday the Federal Reserve announced that it had given JPMorgan Chase a second chance at passing the regulator's stress test. ...
... For the remainder of the commentary:
http://wallstreetonparade.com/2019/06/feds-stress-test-should-jpmorgan-c...
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