I'm glad the Justice Department is having a good time raping the shareholders of JPMorgan and Bank of America. After all that's really who is paying these fines. The Feds should also remember that when the world was crumbling and they needed all the help they could get, JPM stepped up and bought Bear Stearns and Washington Mutual, and B of A did they same with Merrill Lynch. They were not in any way responsible for the irresponsible behavior that got the above mentioned firms into trouble, but to a large degree they are now being penalized for it. If and when the next crisis happens, how fast do you think these institutions will rush to the governments rescue?

JPMorgan chief Dimon meets with Justice Department to discuss $11 billion settlement

Gary Cameron/Reuters - JP Morgan chief executive Jamie Dimon leaves the Justice Department after meeting with Attorney General Eric H. Holder Jr. Dimon and Holder met Thursday morning as the nation’s biggest bank attempts to end federal and state investigations into its liability for selling shoddy mortgage securities.

Talks between the Justice Department and JPMorgan have been ongoing for months but began to heat up this week as federal prosecutors in California were preparing to announce civil charges against JPMorgan related to the sale of mortgage-backed securities between 2005 and 2007.
A person familiar with the negotiations said JPMorgan offered the Justice Department more than $3 billion Tuesday to put the cases to rest. Federal prosecutors wanted more, and by Wednesday a deal for an $11 billion settlement — $7 billion in cash and $4 billion in relief to consumers — was under consideration.
Although Justice is taking the lead in the discussions, a person with knowledge of the negotiations said state authorities have an important seat at the table.
The full scope of the deal remains unclear, but it might include an agreement to end a lawsuit filed by New York Attorney General Eric Schneiderman in October over shoddy mortgage securities, as well as similar federal probes, said the person, who was not authorized to speak publicly.
Officials at JPMorgan and the Justice Department declined to comment.
“We have brought a substantial number of those kinds of cases over the past few years,” Holder said. “We have matters that are under investigation and I expect we will be making further announcements in the coming weeks and months.”
The Justice Department probe of JPMorgan is part of a larger government effort to hold banks accountable for the haphazard packaging and selling of mortgage bonds that nearly toppled the economy.
Investigations, however, have ramped up under the Obama administration’s federal mortgage task force — a team of federal and state attorneys assembled in 2009 to go after crimes related to the financial crisis.
In January 2012, the task force launched a working group to investigate misconduct in the mortgage-backed securities market. Since then, the group, led by Schneiderman, has filed cases against Credit Suisse and Bank of America, accusing them of misleading investors about the quality of the securities they sold.