For the past few years, capital markets have lived by the golden rule of not pushing against the easy-money policies of the U.S. central bank. Following last Tuesday’s mortgage settlement between J.P. Morgan ChaseJPM +0.33% & Co. and the Justice Department, banks should abide by a slightly amended version of that maxim: Don’t fight the Feds.
via The J.P. Morgan Settlement: Misconceptions Debunked – MoneyBeat – WSJ.
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