Obama Wall Street backer to pay $13 billion Justice Dept settlement

Pres Obama_Wall St

by NW Spotlight

The NY Times is reporting that J.P. Morgan Chase & Co. has agreed to a huge $13 billion settlement with the Justice Department. The settlement is for “JPMorgan’s sale of troubled mortgage securities to pension funds and other investors from 2005 through 2008,” without “fully disclosing the risks.”

J.P. Morgan Chase & Co. has donated over $1 million to President Obama’s campaigns.

Two years ago Oregon Catalyst reported that President Obama was the biggest recipient of Wall Street money in over 20 years. Even two years ago, President Obama had already received more campaign contributions from Wall Street than President George W. Bush did in his entire eight years.

Post to Twitter Post to Facebook Post to LinkedIn Post to Reddit

Posted by at 01:15 | Posted in President Obama | 245 Comments |Email This Post Email This Post |Print This Post Print This Post

Stay Tuned...

Stay up to date with the latest political news and commentary from Oregon Catalyst through daily email updates:

Prefer another subscription option? Subscribe to our RSS Feed, become a fan on Facebook, or follow us on Twitter.

Twitter Facebook

No Thanks (close this box)