Barclays – $2 Billion
Goldman Sachs – $5.1 Billion
JP Morgan – $13 Billion
Bank of America – $16.65 Billion
That’s how much these banks paid out in fines and penalties for misrepresenting the quality of the Mortgage-backed securities they sold leading up to the huge financial crisis that climaxed in 2008-2009.
I wonder how much money they actually made from those sales?