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Montag, 21. Oktober 2013 No Tears for JP Morgan; the reported fine is less severe than it looks - We should keep in mind that the bank is worth over $2.5 trillion

What the bank did was sell mortgage-backed assets although it knew that many of the home loans were risky, and it was able to escape scrutiny while doing this because it was trading on a reputation for probity and competence that it clearly no longer deserved. These assets then played a key role in triggering the near-collapse of the international banking system when banks discovered that many of their assets were worth only a fraction of their value on the books.

Mein Blog befasst sich in einem umfassenden Sinn mit dem Verhältnis von Wissen, Wissenschaft und Gesellschaft. Ein besonderes Augenmerk richte ich dabei auf die Aktivitäten des Medien- und Dienstleistungskonzern Bertelsmann und der Bertelsmann Stiftung.