How to Understand the $13 Billion JPMorgan Settlement

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Felix Salmon has a pretty good take on JPMorgan’s $13 billion settlement with the government. Roughly speaking, $10 billion of it is for liabilities that JPM knew it was inheriting when it purchased Washington Mutual and Bear Stearns—liabilities that were fully incorporated into the original purchase price. The remaining $3 billion covers fines for actions taken directly under Jamie Dimon’s watch. There’s no SEC overreach here, and there are no unfair penalties for actions taken by companies that the government encouraged JPM to buy. More here.

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is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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