In spite of this massive Government attack the stock acts very well. If anything JP Morgan seems to be hurt more by the very short term reversal the rise of interest rates than the Government assault. As a shareholder I would be aggravated that they are settling for such an amount. Didn’t they get some kind of indemnification when they bought Bear and WAMU at the Government’s behest? We are buyers below $47 as we have sold Oct 47 Puts short.
Government lawyers are backing up the truck again at J.P. Morgan Chase JPM +0.37% to extract another haul from the country’s largest bank. State and federal attorneys have burrowed close enough to J.P. Morgan’s vault that the bank is considering a staggering $11 billion settlement related to mortgage-backed securities, including one of the largest fines ever against a single company.
Trying