JPMorgan's Legal Headaches May Cost More Than Expected

The transcript discusses the ongoing investigations into currency manipulation involving banks, particularly JP Morgan. It highlights the financial implications, with a worst-case scenario estimate of $5.9 billion in settlements. The discussion touches on the cultural issues within Wall Street and the regulatory environment, suggesting that fines and settlements have become a norm. The Justice Department's role in enforcing compliance and the banks' failure to implement effective internal controls are also examined.

What message has the Justice Department communicated regarding banks and settlements?

According to the text, what has been the total amount paid by banks since 2010 to resolve issues?