JP Morgan Sees The Writing On The Wall Street

from the settled dept

Interesting timing... Just a day after Bernie Ebbers is found quite guilty of defrauding investors at Worldcom, JP Morgan Chase has agreed to settle the charges against them for not recognizing the fraud at Worldcom. While it's likely they've been close to a settlement for quite some time, the timing is still worth noting. Perhaps, JP Morgan figured they could get the press coverage hidden by the coverage of Ebbers' guilty verdict.