[seanv]

i remember hearing about the settlement on the radio and was like Great! At least some investors will get compensated for being scammed... then I read this:

"Couple this with the fact that the bank's share price soared six percent on news of the settlement, adding more than $12 billion in value to shareholders, and one could argue Chase actually made money from the deal. What's more, to defray the cost of this and other fines, Chase last year laid off 7,500 lower-level employees. Meanwhile, per-employee compensation for everyone else rose four percent, to $122,653. But no one made out better than Dimon. The board awarded a 74 percent raise to the man who oversaw the biggest regulatory penalty ever, upping his compensation package to about $20 million."

Just amazing

[berberous]

Taking a 6% pop as evidence Chase made money from the deal is ridiculous. I'm not going to waste time pulling up charts of their share price, but if I had to bet, their shares were depressed while the overhang of legal liability remained. For example, the price could have been down over 6% due to news of the possible liability, and then popped back 6% when settled. So they would have lost on the deal.

[dd36]

Presumably the top executives own lots of stock. Thus, getting a criminal probe squashed directly benefits their pocketbooks. I assume that's the thinking.