JPMorgan’s Total $20 Billion Legal Bill – A Great Indicator

JPMorgan’s Total $20 Billion Legal Bill – A Great Indicator (NYTimes.com)

Management at the world’s largest bank – JPMorgan Chase & Co. – had to have thought the worst of it was behind them, as the world turned the page on 2013.  Not so much.  After a year in which the New-York-based company paid out billions in fines, fees and litigation costs, they start off 2014 right back in the same position – almost.  The bank’s planning to reach a $2 billion agreement with the U.S. government to pay criminal and civil awards for failing to recognize and stop the actions of Bernard Madoff’s Ponzi scheme.  Once this next $2 billion flies out the door, that will bring the JPMorgan total to more than $20 billion paid in legal wranglings over the past 12 months.  Yet, you’d never know it by the share price, as it’s risen almost 25 percent this year alone.  I don’t know about you, but if another huge suit comes out against the bank, I may pile into its shares.

Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.

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