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WASHINGTON -- A civil lawsuit against investment giant JPMorgan Chase, announced Tuesday in Washington by New York’s top prosecutor, is aimed at the root of the nation’s brutal 2008 financial crisis. Consumer advocates, however, questioned why it took so long and why prosecutors didn’t bring a criminal case. [...]
“You can make a lot of money doing corporate crime and unfortunately the risks are very low, as seen by how few people have gone to jail and how little money has been returned to people harmed in the fiscal crisis,” said Ed Mierzwinski, the consumer program director for advocacy group U.S. PIRG. “These corporations so far are paying an infinitesimal amount of money compared to the havoc they wreaked on families, homes and the economy.” [...]
Tools & Resources
Our Changing Relationship with Driving and the Implications for America’s FutureU.S. PIRG Education Fund
Corporations Able to Secure Tax Deductions for Mortgage Violations, Price-Fixing and Other Misconduct, But Two Bipartisan Bills Would AddressU.S. PIRG
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