Editorial Board
The JPMorgan Settlement Is Too Small
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It comes through loud and clear in the “London Whale” settlement by JPMorgan Chase & Co.: The bank thumbed its nose at its compact with shareholders to reveal how their money is being spent and how much they are owed in return.
Legal papers reveal misconduct involving a single trading strategy that is patently egregious. To its credit, the Securities and Exchange Commission required JPMorgan to admit to wrongdoing.