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Settlements and Fines from TBTF Institutions Since the Crisis

StalingradandPoorski's picture




 

Let's
take a look at the amount of settlements/fines from various banks and financial
institutions around the world since the crisis. There are probably a lot of
settlements/fines I have missed, frankly the amount below is already
staggering, so this is a very rough estimate. Some perspective, most of these
individual banks have now paid more in fines then the value of most countries
GDP's. Total tally from the listed Fines/Settlements below is $170,702,800,000.
Reminder: Jail time served by any board members or CEO's of the following TBTF
list=0. #FreeCorzine. Meanwhile, Supreme Leader Obama is going on and on about
making the system "fair" and for the people to stop being so
"cynical" and instead be more "hopeful," while the same
people who caused the last financial crisis are the same people still in
charge. 

 

2006

*AIG
1.6 Billion Settlement with SEC, New York State over securities fraud

2008 

*Bank
of America $8.4 Billion Countrywide Predatory Lending Settlement

2010 

*Goldman
Sachs $550 Million Settlement to SEC for Subprime Mortgage CDO

 

2011 

*KPMG
$37 Million Settlement over Auditing at Wachovia

*Wells
Fargo $590 Million Settlement in Claims over Wachovia

*Bank
of America $8.5 Billion Settlement with BNY Mellon over Mortgages

*Bank
of America $1.6 Billion Assuared Guarantee Settlement

*Bank
of America $1.5 Billion Fannie Mae Settlement 

*Citigroup
$285 Million Settlement with SEC over Fraud Charges

*UBS
$2.5 Million Fine to FINRA over Lehman Notes

 

2011 Total $12,514,000,000

 

2012 

*Deutsche
Bank $202 Million to Settle Misleading Department of Housing and Urban
Development on Mortgages

*JPM
$1.8 Billion Settlement Nationwide Settlement over Improper Foreclosures

*JPM
$269.9 Million Settlement with SEC over Creation and Underwriting of MBS

*JPM
$20 Million Settlement Mishandling of Lehman Funds

*Ally/GMAC,
BofA, Citi, JPM, Wells Fargo $25 Billion National Mortgage Settlement

*UBS
1.5 Billion Settlement over Rate Rigging 

*Barclays
$453 Million Settlement over Libor Probe

*Bank
of America $2.4 Billion Merrill Lynch Securities Fraud Settlement

*Bear
Stearns $275 Million Settlement with Shareholders

2012 Total $31,919,000,000

 

2013 

*JPM
$13 Billion Civil Settlement with Justice Department for Mortgage Lending
Practices

*JPM
$110 Million Settlement on manipulation of Japanese version of Libor 

*JPM
$4.5 Billion to 21 Institutional Investors to Settle losses tied to
Mortgage-Backed Securities

*JPM
$100 Million Settlement to CFTC for London Whale Trades 

*JPM
$920 Million Settlements with OCC, SEC, FED, UK Fin. Conduct Authority over
London Whale

*JPM
$410 Million Settlement over California Electricity Rigging

*JPM
$5.1 Billion FHFA Settlement

*Deutsche
Bank $1.9 Billion Settlement with FHFA

*Deutsche
Bank €725 Million Settlement for Euribor and Yen Libor
Rigging

*Bank
of America $11.2 Billion Fannie Mae Settlement

*Bank
of America $2.9 Billion Settlement with FED and OCC

*Bank
of America $1.7 Billion MBIA Settlement

*Bank
of America $131.8 Million SEC Settlement over Mortgage Deals

*Societe
Generale €446 Million Settlement Euribor
Manipulation 

*RaboBank
$475 Million Settlement over Libor Manipulation

*UBS
$885 Million Settlement over FHFA Lawsuit

*RBS €391 Million Interest Rate Rigging

*Goldman
Sachs & Morgan Stanley $557 Million Settlement over Foreclosures 

*Wells
Fargo $541 Million Fannie Mae Loan Settlement 

*MF
Global $100 Million to CFTC

*Citigroup
$3.5 Billion FHFA Settlement

2013 Total $49,591,800,000

2014  

*JPM
$2.6 Billion Settlement related to Madoff Fraud

*Morgan
Stanley $1.25 Billion Mortgage Settlement 

*Bank
of America $6.3 Billion Settlement of Mortgage Securities Suit

*Citi
$7 Billion Settlement for Mortgage Probe 

*US
Bancorp $200 Million Settlement with DOJ over bad Mortgage-Loan Apps

*Credit
Suisse $885 Million Settlement over FHFA 

*JPM
$4 Billion Settlement over FHFA Lawsuit

*Deutsche
Bank $1.9 Billion Settlement over FHFA Lawsuit

*Credit
Suisse Guilty with $2.6 Billion fine over Tax Evasion 

*Bank
of America $16.6 Million Settlement over Sanctions Violations

*Bank
of America $9.5 Billion FHFA Settlement

*Morgan
Stanley $275 Million SEC Settlement over Risky Mortgages

*Citigroup
$5 Million SEC Settlement over Lavaflow

*BNP
Paribas $8.9 Billion PLEADS GUILTY

 

Update 8/21/2014

*Bank
of America $17 Billion Settlement over U.S. Mortgage Probe

*Lloyds
$370 Million Settlement on Rate Probe

*Bank
of America $1.27 Billion Payed in regards to 'Hustle' Case

*AIG
$960 Million Settlement for misleading investors before the crisis

*Citi
$285 Million SEC Settlement Misleading investors on $1B package of Mortgage
bonds

*Deutsche
Bank, BayernLB RMNBS Settlement $810 Million

 

2014 Total $66,126,600,000

 

 

 

Total Penalties $170,702,800,000.

 

 

 

 

 

 

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Sat, 07/26/2014 - 13:44 | 5007443 Joebloinvestor
Joebloinvestor's picture

If they couldn't pay the fines, the US gave them zero interest loans.

Sat, 07/26/2014 - 11:07 | 5007055 DOT
DOT's picture

Who is Jon Corzine ?

Sat, 07/26/2014 - 10:53 | 5007008 Psquared
Psquared's picture

This all seems like racketeering to me. But then they are systemically important institutions so we can't charge them with that can we. But we could arrest their Presidents, CEOs and CFOs and put them in jail. That would not bring down the companies themselves - only force them to pick honest people as executives.

Why don't we? Well, it might be because their defense would implicate the government in the ongoing criminal/fraudulent activities of the TBTF institutions.

http://www.nybooks.com/articles/archives/2014/jan/09/financial-crisis-wh...

Sat, 07/26/2014 - 08:39 | 5006803 NoPension
NoPension's picture

It's a revolving door!
Today, I'm going to write my buddy a check for $100,000.
He'll deposit it just before noon, and write me a check for $99,975
I'll deposit that Monday morning, along with $25. Cash

Then, well just sit back and see how this shakes out. Perhaps, through the same magic that banks use, after a week or so of the computers spitting this back and forth, we will both end up with $100,000 in our accounts.

Now, in light of " everything", does that really sound too crazy?

Edit; more than likely, we will get rooms at the Graybar Hotel!

Edit#2; where we meet Bernie Madoff, and learn how to do it right.

Sat, 07/26/2014 - 08:19 | 5006787 Ban KKiller
Ban KKiller's picture

Nationstar mortgage, LLC, a continuing criminal enterprise, is aching to be a bigger criminal outfit. They are buying servicing rights from other criminal banks who have been caught in their crime and now want out. They are owned by another criminal enterprise, fortress investment group. These are nothing more than companies stealing homes with fraud and forgery. The good news is that their attorneys are mostly idiots as no honest person would work for them. Death, by law, to these vermin. 

Sat, 07/26/2014 - 07:54 | 5006768 no more banksters
no more banksters's picture

260714 PUDI Report

Regular reports on the growing Poverty, Unemployment, Debt and Inequality of the neo-capitalist world

http://failedevolution.blogspot.gr/2014/07/260714-pudi-report.html

Sat, 07/26/2014 - 10:46 | 5006984 Psquared
Psquared's picture

Interesting. So to save a few bucks they don't employ workers but they are building these factories to produce goods to sell to whom? People who are unemployed can afford to buy goods how? With government assistance? Henry Ford must be turning over in his grave.

Sat, 07/26/2014 - 11:39 | 5007143 no more banksters
no more banksters's picture

Well, just one explanation:

http://failedevolution.blogspot.gr/2014/05/already-happens-capitalism-de...

... but I'm afraid there are even worst scenarios

Sat, 07/26/2014 - 07:47 | 5006757 shovelhead
shovelhead's picture

This is how Don Fanucci wets his beak.

At the next cocktail party the banker goes to the SEC atty., "Ow my balls" and everyone has a good laugh.

Sometimes you gotta take the protection racket public to toss a bone to the serfs.

Sat, 07/26/2014 - 07:35 | 5006748 Wahooo
Wahooo's picture

One might conclude from this research that the government's goal in regulatory and legal matters is to extract as much money as possible from the private sector. Punishing individuals would not contribute to that goal. In fact, just the opposite. Leaving the criminals in place ensures additional crimes that can be penalized with fines.

Sat, 07/26/2014 - 09:42 | 5006876 metastar
metastar's picture

Yes, when the banks are TBTF and the public is forced to back them by a criminal, corrupt, and illegitimate government, then these fines amount to nothing more than yet another tax on an already enslaved public.

Sat, 07/26/2014 - 12:41 | 5007287 Emergency Ward
Emergency Ward's picture

Money Laundering 101.  Instead of direct under-the-table bribes, the government gets "legally" extracted "fines".

Sat, 07/26/2014 - 00:32 | 5006454 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

The cost of doing business looks fairly cheap compared to the profits they made in the same time frame. Litigation will go on forever and

a day so it ain't over till the fat lady sings.

Sat, 07/26/2014 - 00:06 | 5006425 theyjustcantstop
theyjustcantstop's picture

$163 billion thats chump change, just bonuses for administration puppets from o'bama down, and political cronies , and political donations, as sharpton calls it walking around money.

i would like to see actual proof where these fines went.

at least with the stimulus you can traced where 80% of that $1 trillion dollars went to the public-sector unions, had to keep that political base happy.

 

Sat, 07/26/2014 - 03:07 | 5006580 Setarcos
Setarcos's picture

You are still hung up about unions!  They are comparative minnows.

Hey why not have a go at the millions of "free-loaders" who have lost their jobs, houses and "cost the tax payer millions in hand-outs", whilst the banksters get free trillions to perpetuate their Ponzi scheme. after having busted the 99.9% financially.

Judging by your semi-literacy, are you sure that you are competent to make an intelligent comment?

BTW if you really want to know where trillions went, then try researching the military industrial complex and why the auditors at the Pentagon and WTC7 got wiped out on 911.

Fri, 07/25/2014 - 23:06 | 5006312 kenny500c
kenny500c's picture

Civil suits to follow from pension funds et al which will bankrupt all the players after the gummint and big money has had first licks.

Fri, 07/25/2014 - 21:52 | 5006175 cynicalskeptic
cynicalskeptic's picture

Wanna bet that's less than the interest earned on all that Tarp money that's been put back on deposit with the Fed?

 

One hell of a scam..... let banks have trillions at 0% or minimal interest - which they then deposit back with the Fed (earning interest) so they have sufficient 'reserves'.

so what if they have to pay a pittance (relative to what they're earning) in 'fines'.....  it's all a kabuki play to keep the taxpayers from rioting in the streets - lets them think the government is actually 'doing something'.

Fri, 07/25/2014 - 23:24 | 5006314 Mr. Ed
Mr. Ed's picture

Speaking of Kabuki Theatre:  how is it possible for the Fed to print up truckloads of money and give it to a member bank which turns around and gives it right back to the Fed in return for "interest"... and NOT call it white collar crime?

Call it normal Fed operating procedure, recapitalizing the (systemically important but squandering) banks or whatever; but it's theft.  It's thievery dressed up in a storied ceremony, but it's still thievery.

Why does nearly everyone stand by and watch without a word?  Why won't the media just call it what it is and keep on calling it what it is until everyone is on the same page?  Why not?  We still have a First Amendment, you can still speak the truth.

If the Fed and the government are bent on doing this, they should just print up some money and fork it over to the banksters,  That at least is "honest thievery."

Sat, 07/26/2014 - 08:30 | 5006799 NoPension
NoPension's picture

...why does everyone stand by and watch?

I'll try.

Because our mortal existance depends on us going along with the charade (?)

Sun, 07/27/2014 - 08:36 | 5009199 Mr. Ed
Mr. Ed's picture

I think it is only a small elite that benefits from "going along with the charade"

 

My best guess:  most people can't sustain a level of mindfulness above what is needed to deal with immediate personal and financial problems... many of which have been created by government and the Fed in particular.  Funny old thing, how that works!

Plus, just the sheer volume of non-sensical, politically correct crap in the air these days makes the average mind freeze up.

Fri, 07/25/2014 - 21:19 | 5006103 casfoto
casfoto's picture

Please turn out the lights on the way out.

Fri, 07/25/2014 - 22:14 | 5006212 max2205
max2205's picture

Did it all go to the FSA or DNC?

 

Again why dk we have a deficit? 

 

Fucking A holes!

Fri, 07/25/2014 - 21:08 | 5006082 Pemaquid
Pemaquid's picture

I guess if jail time were in the cards we might loose confidence.

Fri, 07/25/2014 - 21:08 | 5006081 Crawdaddy
Crawdaddy's picture

Not to worry, the accountants offset it against Goodwill and all is golden now.

Fri, 07/25/2014 - 20:38 | 5006024 mt paul
mt paul's picture

no bank on the planet

can take a billion dollar hit

 

and still be freaking solvent....

Sat, 07/26/2014 - 07:52 | 5006765 shovelhead
shovelhead's picture

Solvent?

HAHAHAHA.

Funny guy.

Fri, 07/25/2014 - 21:16 | 5006095 nmewn
nmewn's picture

Solvency is a relative term, when the "investment bank" has its hand in the back pocket (by law) of every person in a country, whether they're "a shareholder" or not.

And maybe its just my bias but...I've got a serious problem with the authors hammer & sickle avatar complaining about the wreckage he see's on the turnpike, to wit:

"Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly."

Unless I'm overreacting to his obvious sarcasm of the communist state we find ourselves in ;-)

Fri, 07/25/2014 - 20:10 | 5005922 your_moms_basement
your_moms_basement's picture

I have a serious molotov cocktail habit, when things get really bad I would like to share with everyone on this list.  Fuck you very much! 

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