The Inside Story of One of the Largest Financial Settlement of All Time

Monday, August 25, 2014

JP Morgan Chase CEO Jamie Dimon Testifies At House Financial Services Hearing (Chip Somodevilla/Getty)

William D. Cohan, a former senior Wall Street investment banker, tells the inside story of JPMorgan Chase’s landmark mortgage settlement—the largest financial settlement of all time until last week. He probes into the unfiled civil complaint of U.S. Attorney Eric Wagner against JPMorgan Chase and discusses the investigation of New York Attorney General Eric Schneiderman into the pre-crash activities on Wall Street. Cohan’s article “Jamie Dimon’s $13 Billion Secret” is the cover story in the Sept 1/8 issue of The Nation.



William D. Cohan

Comments [2]

ct from NYC

"Iceland Prosecutor Investigates, Convicts Bankers for Financial Crimes"

Aug. 25 2014 02:04 PM
Bruce Parker from New York City

ASk of your guest, the July ruling with the IRS as it affects this discussion as follows:
The ruling allows Windstream to spin off its copper and fiber network into a real estate investment trust, or REIT. That sounds pretty ho-hum until you realize it means that Windstream won’t have to pay hundreds of millions of dollars in taxes
Here’s how it works: The REIT will lease the network assets to Windstream and receive rent totaling $650 million a year, the company says. REITs are essentially tax-exempt entities, and because the $650 million will go to the REIT, it will not be taxable income to either company.

Aug. 25 2014 01:51 PM

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