The appropriate policy would be for JPMorgan to fire such officers and for DOJ to prosecute them and recover their unjust bonuses . JP Morgan Chase is reported to be in talks with U.S. over $ 1 billion settlement . William Black says if reports are correct , the public and shareholders will not seek compensation . Reports say California criminal probe will follow , but it 's not clear what may result , he says . Notes : Shareholders pay bonuses to execs who profit from frauds , then pay the fines .
JP Morgan Chase is reported to be in talks with U.S. over $ 1 billion settlement . William Black says if reports are correct , the public and shareholders will not seek compensation . Reports say California criminal probe will follow , but it 's not clear what may result , he says . Notes : Shareholders pay bonuses to execs who profit from frauds , then pay the fines .