Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
This paper is aimed at discussing the video about JP Morgan Chase that has been required to pay a $ 13 billion fine by the government. In particular, it is necessary to show how this video is related to the questions covered during the course. One should bear in mind that this financial organization was one of the companies that contributed to the mortgage crisis and subsequent recession.
In turn, this crisis profoundly affected the economy of the United States and many other countries. On the whole, this source can be useful for analyzing the responsibilities of banks, the impact of their failures, and the role of government. These are the main questions that should be discussed more closely.
The fine, which JP Morgan is supposed to pay, will be the largest financial penalty ever imposed on an American company (NBC, 2013). One should keep in mind that this bank was involved in selling mortgage securities, and this activity contributed to the eventual collapse of the housing market. Moreover, these activities deprived many families of their savings (NBC, 2013).
These are some of the details that can be singled out. To a great extent, this video illustrates the interactions between banks and government. This case is related to the issues explored by Dean Croushore (2011) in his textbook. One of the questions examined by this author is the failure of the banking system and the implications of this event (Croushore, 2011, p. 159).
This scholar notes that the financial recession, which started in 2009, resulted from the complacency of many financial institutions, many of which were involved in predatory lending (Croushore, 2011, p. 163). Thus, one can say that this video is related to the questions discussed in the textbook.
It should be noted that this business was required to reimburse homeowners who were affected by this collapse (NBC, 2013). The government assumed that JP Morgan had been responsible for the misfortunes of people who lost their savings due to the manipulations of this organization.
Admittedly, this fine may not help every person who was influenced by this financial crisis. Nevertheless, in this way, the government will be able to assist thousands of families (NBC, 2013). Furthermore, this example suggests that banks should focus on the impacts that they produce on various stakeholders. This is one of the points that can be made.
Additionally, this video demonstrates that government exercises closer control over banking institutions. The state usually uses a variety of regulations that shape the work of banks (Croushore, 2011). This is one of the questions that Dean Croushore (2011) examines in the book.
However, penalties can also be a powerful tool that can affect the work of these organizations (NBC, 2013). In turn, the fine, which equals $ 13 billion, can be a powerful deterrent for banks that can be engaged in illegal activities. This is another detail that should be considered.
This discussion indicates that the failures of banking institutions can adversely influence thousands of people who do not know much about the peculiarities of banking.
Furthermore, in many cases, the government is forced to intervene to support people who may be affected by the illegal practices of banking institutions. Furthermore, financial penalties can be regarded as a method of influencing the work of banks. These are the main issues that have been explored in this video.
Reference List
Croushore, D. (2011). M&B 2. New York, NY: Cengage Learning. NBC (The United States). JP Morgan Chase to Pay a $ 13.
billionfine [Television Podcast]. New York, NY: NBC. Web.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.