Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help



Go Back   PeachParts Mercedes-Benz Forum > General Discussions > Off-Topic Discussion

Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 11-20-2013, 02:06 PM
MTI's Avatar
MTI MTI is offline
Registered User
 
Join Date: Nov 2002
Location: Scottsdale, Arizona
Posts: 10,626
JP Morgan Chase's $13B Settlment

Here's the rough disbursement



1.) $4 billion to help struggling homeowners

- $2 billion to lower the principal balance of homeowners who owe more than their homes are worth

- $2 billion will go to an array of other types of homeowner relief, including lowering borrowers’ mortgage rates; donating distressed properties to nonprofits; issuing mortgages to low-and-moderate income families harmed by the financial crisis

2.) $9 billion to settle civil claims by various entities related to troubled mortgage-backed securities:

- $2 billion is a civil penalty to be paid to the Justice Department

- $1.4 billion for the National Credit Union Administration

- $515.4 million for the Federal Deposit Insurance Corp.

- $4 billion for the Federal Housing Finance Agency

- $298.9 million for the California attorney general

- $19.7 million for the Delaware AG

- $100 million for the Illinois AG

- $34.4 million for the Massachusetts AG

- $613.8 million for the New York AG

Source: The Justice Department; New York AG

Reply With Quote
  #2  
Old 11-20-2013, 02:09 PM
benhogan's Avatar
CPA/Greasemonkey
 
Join Date: Aug 2009
Location: Chapel Hill
Posts: 1,088
it's bogus.

the will charge the whole thing (or most of it) to expenses. it will have the effect of lowering their taxable income.

it is like URO parts. on the surface, it looks good but ain't worth a ****.
__________________
Ben
1987 190d 2.5Turbo
Reply With Quote
  #3  
Old 11-20-2013, 02:16 PM
MTI's Avatar
MTI MTI is offline
Registered User
 
Join Date: Nov 2002
Location: Scottsdale, Arizona
Posts: 10,626
Quote:
Originally Posted by benhogan View Post
it's bogus.

the will charge the whole thing (or most of it) to expenses. it will have the effect of lowering their taxable income.

it is like URO parts. on the surface, it looks good but ain't worth a ****.
I believe that $7B worth is deductible.
Reply With Quote
  #4  
Old 11-20-2013, 02:53 PM
t walgamuth's Avatar
dieselarchitect
 
Join Date: Apr 2005
Location: Lafayette Indiana
Posts: 35,562
Quote:
Originally Posted by benhogan View Post
it's bogus.

the will charge the whole thing (or most of it) to expenses. it will have the effect of lowering their taxable income.

it is like URO parts. on the surface, it looks good but ain't worth a ****.
So what? It still has to be paid out. I suspect it is a legitimate business expense (sort of).

__________________
[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 03:03 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2018 Pelican Parts, LLC - Posts may be archived for display on the Peach Parts or Pelican Parts Website -    DMCA Registered Agent Contact Page