JPMorgan's $13 billion fine?

JPMorgan could be paying a record $13 billion in fines to the Justice Department due to the financial crisis.

..crisis. Christine Romans here to talk more about this. So let's break this down. Of course, the question is what does mean for JP Morgan and Jamie Dimon.

For Jamie Dimon, this has been a very very bad year. This is a very big fine. It breaks down by 9 billion dollars in fine and 4 billion dollars in consumer relief. Some of them related to loan modifications. It’s not exactly sure how that’s gonna work just yet? But that’s the numbers there. And look, Jamie Dimon, for those who covered him, he is someone who many people thought who could be a Treasury Secretary someday. Now he’s being made to pay for one of the worst worst offences of the Morgan's securities crisis. Much of this is because they bought Bear Stearns and Washington Mutual. Now, as a favour actually, Jamie Dimon described this to the FED in the heat of 2008 crisis now they are having to pay a big time.

But, paying a big time, you are trying to talk about record penalty 13 billion dollars, but it's still not even over for them?

No, it looks as though. We are told that Jamie Dimon really wanted to push that there will be no criminal, criminal investigation and the criminal investigation settle the civil problem here for 13 billion and the criminal investigation, he did not get out of his way on that. Attorney General Eric Holder, focusing on California’s Act actually Sacramento, criminal investigation continues.

Much more to come on that. It's really interesting how far they come and started it. JP Morgan offered 1 billion dollar settlement to 13.

13, that's a lot of money. And this is costing the bank, I mean, look at it’s earning supports. It’s costing the bank all the allegations.

Christine, thank you so much.

You're welcome.

People think you are criminal, you are criminal.Cuz you are rich, you should just pay.