Join us on twitter at aj real money. Americas biggest bank makes history by signing off on americas biggest legal settlement ever bin a single entity. Jp morgan paid to pay a whooping 13 billion to resolve claims over the sale of toxic securities that helped implode the Financial System back in 2008. 8 billion will go to settle claims made by various federal agencies. Another 1 billion will go to five states who sued the bank. But heres what may be the most interesting part. 4 billion will go to consumer relief. Of that 4 billion, half will go towards actually reducing the principle on jp morganheld loans where the value of the mortgage is higher than the value of the house. Some that have money will be put towards restructuring some mortgages to reduce the homeowners monthly payments. And out of the remaining 2 billion some will go towards subsidizing new mortgages for low to middle income borrowers. Some may go to cleaning up properties in distressed areas or tearing down abandoned f
Abortion if it passes. Talks over Irans Nuclear program resume. Some lawmakers are pushing for tougher sanctions against iran. 23 people were killed in suicide attacks outside of the Iranian Embassy in beirut. Alqaeda said it was behind the blast. Those are your headlines. Real money with ali velshi is next. And updates at the top of the next hour. Jp morgan chase paying a hefty price for its part in the financial collapse. Well tell you how the 13 billion deal could help some home others. Also middle class workers getting squeezed by rising prices. And beyond twitter, the search for the next hot tech ipo. Im ali velshi, and this is real money. This is real money. You are the most important part of the show. Join us on twitter at aj real money. Americas biggest bank makes history by signing off on americas biggest legal settlement ever bin a single entity. Jp morgan paid to pay a whooping 13 billion to resolve claims over the sale of toxic securities that helped implode the Financial S