JPMorgan has paid more than $8.5 billion in legal settlements stemming from a slew of major investment mistakes – yet the banking giant keeps rolling on. How?
Fed decision not to taper buoyed Wall Street, but James Bullard, head of the Federal Reserve Bank of St. Louis, says a cutback in bond-buying could come as early as next month, depending on the economy. Also this week, housing posts mostly strong numbers, JPMorgan agrees to nearly $1 billion settlement, and the owner of Olive Garden and Red Lobster cuts jobs.
As the five-year anniversary of the Lehman Brothers' bankruptcy approaches, Robert Reich cautions that Wall Street may already be falling back into bad habits and that big banks may be too big.