A BIG FINE (2)

J.P.Morgan is busily settling all over the place.US$5.1 billion with the U.S. housing regulator, and US$4.5 billion to investors, who bought its mortgage securities. The proposed US$13 billion settlement with the Justice Department will be finalised soon.

US$22 billion and counting. And this is just in respect of one business in one country. Incredible.

Walter Blotscher