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This is a HUGE number:

JPMorgan Chase, which is close to striking a $13 billion settlement over mortgage practices, has been portrayed by some on Wall Street as a victim of government zealotry. The bank’s defenders say JPMorgan is paying for the sins of two firms it bought in the financial crisis, Bear Stearns and Washington Mutual. "But as details emerge, Wall Street's fears of a largely punitive settlement may not add up," Peter Eavis and Ben Protess report in DealBook.

And good that the money is going to help rectify some of the damage this bank caused:

The money will flow to different parties, with the largest sum, more than $6 billion, serving as compensation for investors like pension funds that experienced losses from mortgage securities sold by JPMorgan, Bear Stearns and Washington Mutual, people briefed on the talks said. Another $4 billion is relief for struggling homeowners in cities like Detroit, serving as penance for the bank's general mortgage practices without stemming from any particular mortgage securities or institution, according to one of the people briefed on the talks

But when are we going to see some arrests of banking officials for the crap they pulled over five years ago?

Yeah...we're not holding our breath..

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