Johann Wagener 9-19-13
Racketeer Influenced and Corrupt Organizations Act - law intended to eradicate organized crime by establishing strong sanctions and forfeiture provisions.
JP (JP MORGAN) copped a guilty plea which amounted to one of those "slaps on the wrist" fines while JD (JAIME DIMAN) who is the head of this criminal enterprise didn't even get a mention.
London Whale scandal to cost JP Morgan $920m in penalties
The fine, even though it sounds significant, is chump change when compared to the amount of cash they took in during just 1 quarter of this year.
JP Morgan has recorded a profit of $6.5bn (£4.3bn) for the second quarter of 2013, up 31% from a year ago.