JPMorgan's price tag to settle Madoff case: $2.6B, or 2 weeks revenue
Tuesday, January 7, 2014 - 14:31
in Mathematics & Economics
It will cost JPMorgan Chase nearly $2.6 billion total to settle allegations it turned a blind eye to Bernard Madoff's epic Ponzi scheme. No individuals from the bank will be penalized, however, and putting behind one of its biggest scandals will cost the bank less than two weeks' revenue.