Madoff scandal. LIBOR conspiracy. London Whale fiasco. The names roll out like the titles of Tom Clancy novels. But this is not the stuff of fiction. This is the real-life rap sheet of JPMorgan Chase & Co. (JPMC)
And these episodes aren’t cheap. The beleaguered bank has paid more than $20 billion in the past year in fines, penalties and legal settlements with both regulators and clients. That doesn’t include the untold millions spent in legal fees defending itself from more than a dozen allegations ranging from mortgage securities fraud to violations of anti–money laundering laws.
