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U.S. Bank Legal Bills Exceed $100 Billion

08-31-2013 • http://www.bloomberg.com/news/2013-08-28/u-s-bank-

The six biggest U.S. banks, led by JPMorgan Chase & Co. (JPM) and Bank of America Corp., have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years. That’s the amount allotted to lawyers and litigation, as well as for settling claims about shoddy mortgages and foreclosures, according to data compiled by Bloomberg. The sum, equivalent to spending $51 million a day, is enough to erase everything the banks earned for 2012.

1 Comments in Response to U.S. Bank Legal Bills Exceed $100 Billion

Comment by PureTrust

Entered on: 9/1/2013 6:29:42 AM

There might be someone out there who can sorta comprehend a billion. But I expect that the great majority of us don't come close. So, here's what to do. Broadcast and email big money amounts all over the place... to all your friends, acquaintances, enemies, what have you! Why? The sooner people realize that the petty $1000 a weak that they might be earning doesn't really have any value at all in the larger scheme of things, the sooner they will stop working for money and start working for Bitcoin (or silver and gold, or salt), and we can get rid of the Big Bankers and banks and get on with our lives.

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