Description: News that JPMorgan Chase would pay a $13 billion fine, the largest government penalty levied on a single company, initially led to calls that CEO Jamie Dimon should step down. That’s not going to happen. Board members have rallied around Dimon. What’s more, it’s unlikely that Dimon had any direct involvement in the troubled mortgage deals. In fact, he warned his executives about the dangers of subprime loans.

Source: Fortune.com

Date: Nov 27, 2013

Link: http://finance.fortune.cnn.com/2013/11/27/jpmorgan-bankers-13-billion-settlement/?iid=SF_F_River

Questions for Discussions:

• Summarize the criticisms leveled at the legal and regulatory processes aimed at dealing with the problems related to the banking and financial crisis.
• Do you think the criticisms are fair?