May 20, 2014; Business Insider
Here is an odd conundrum. A settlement deal negotiated between the federal government and JPMorgan Chase may look like a big number for government and for homeowners, but a number of experts suggest that JPMorgan may be getting off lightly. JPMorgan, for its part, says that the deal includes more than $100 million for Detroit. Should the appropriateness of stricter punishment for home mortgage scofflaw JPMorgan outweigh the need of bankrupt Detroit for $100 million, even if the source of the money might have harmed many Detroit homeowners over the years of its illegal activity?
As many, including NPQ, have reported, the federal government’s punishments of Wall Street banks for their various depredations during and after their instigation of the meltdown of mortgage markets haven’t been all that punitive.