The agreement in principle with the Securities and Exchange Commission covers two investigations related to mortgage-backed bonds handled by JPMorgan and Bear Stearns, which the bank acquired in 2008, New York-based JPMorgan said Thursday in a filing.
The SEC has issued notices to banks including JPMorgan in investigations focusing on mortgage securities and whether lenders failed to disclose underlying credit weaknesses. Goldman Sachs paid $550 million in 2010 to settle SEC claims that it misled investors on a mortgage-linked investment in 2007. In that case, Goldman Sachs said it made a “mistake” in omitting disclosures."
And this is the solution, they pay a fine, or buy back debt, and walk away while the average American has lost their home.