The $2 billion deal JPMorgan Chase cut with the government to make its Bernie Madoff problem go away truly stands out among the blizzard of recent giant settlements between the largest U.S. banks and the regulators paid to keep an eye on them. All of these deals have one thing in common: they allowed the banks to pay big fines in lieu of criminal prosecutions either of the bank itself or any individuals who might have been held culpable for alleged illegal activities. But remember this: while the fines look big in headlines they are usually spit in the ocean to the banks. More on Fox Business here.
