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| JPMorgan to Pay $88.3 Million for violating sanctions |
| 2011-08-26 |
| JPMorgan Chase has agreed to pay $88.3 million as part of a settlement with the Treasury Department over a series of transactions involving Cuba, Iran and Sudan, the agency said on Thursday. Treasury officials called the bank’s actions “egregious” and said that JPMorgan’s “managers and supervisors acted with knowledge of the conduct constituting the apparent violations and recklessly failed to exercise a minimal degree of caution or care.” A spokeswoman for JPMorgan said the company never intended to violate the Treasury Dept. regulations. |
| Posted by:Anguper Hupomosing9418 |
| #6 C'mon, that's at least a trifle. The US government can put away the plastic for half an hour. |
| Posted by: RandomJD 2011-08-26 23:07 |
| #5 $88 million? It's not even enough to be called a trifle for a country whose national debt is growing at $3 million PER MINUTE. |
| Posted by: Anguper Hupomosing9418 2011-08-26 14:49 |
| #4 It falls off the back of the truck on the way to Treasury. |
| Posted by: Eohippus Phater7165 2011-08-26 13:34 |
| #3 So what exactly happens to this 88.3 million? It goes to Treasury and then what? |
| Posted by: tu3031 2011-08-26 13:22 |
| #2 In other news: Congress approves billions of foreign aid for Pakistan in 2012. Dollars, some of which will surely make their way to the ISI and be funneled into Afghanistan in form of roadside bombs and weapons used to kill and maim or servicemen and women. Someone, please re-define "egregious." |
| Posted by: Besoeker 2011-08-26 10:34 |
| #1 So where are the criminal actions? If you can be prosecuted as a criminal when you didn't know anything was amiss, why are there no prosecutions when they know something was amiss? |
| Posted by: Slindsey 2011-08-26 10:21 |