{"id":54534,"date":"2015-03-02T12:00:14","date_gmt":"2015-03-02T12:00:14","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=54534"},"modified":"2015-05-05T21:26:02","modified_gmt":"2015-05-05T20:26:02","slug":"morgan-stanley-strikes-2-6bn-deal-to-settle-mortgage-bubble-case","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2015\/03\/morgan-stanley-strikes-2-6bn-deal-to-settle-mortgage-bubble-case\/","title":{"rendered":"Morgan Stanley Strikes $2.6bn Deal to Settle Mortgage Bubble Case"},"content":{"rendered":"<ul>\n<li><em>Payment will \u2018resolve certain claims\u2019 by Justice Department<\/em><\/li>\n<li><em>Investment bank faced charges over role in financial crisis<\/em><\/li>\n<\/ul>\n<div id=\"attachment_54535\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/03\/morgan-stanley.jpg\" ><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-54535\" class=\"wp-image-54535 size-full\" src=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/03\/morgan-stanley.jpg\" alt=\"morgan stanley\" width=\"620\" height=\"372\" srcset=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/03\/morgan-stanley.jpg 620w, https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/03\/morgan-stanley-300x180.jpg 300w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><p id=\"caption-attachment-54535\" class=\"wp-caption-text\">Morgan Stanley had set aside $2.8bn in January to cover ongoing issues with its residential mortgage-backed securities division. Photograph: Stan Honda\/AFP\/Getty Images<\/p><\/div>\n<p><em>26 Feb 2015 &#8211; <\/em><a target=\"_blank\" href=\"http:\/\/www.theguardian.com\/business\/morganstanley\" >Morgan Stanley<\/a> has agreed to pay $2.6bn to settle federal charges over its role in the mortgage bubble and subsequent financial crisis.<\/p>\n<p>The investment bank said late on Wednesday [25 Feb 2015] the $2.6bn will go to \u201cresolve certain claims\u201d the Justice Department intended to bring against Morgan Stanley. The settlement was disclosed in regulatory filing.<\/p>\n<p>Those specific claims were not disclosed. Morgan Stanley said in January it increased its legal reserves by $2.8bn to cover ongoing issues with its residential mortgage-backed securities division. Morgan is the latest bank, just like Citigroup, Bank of America and JPMorgan Chase, to pay billions to settle pending charges related to its role in the 2008 financial crisis.<\/p>\n<p>The Justice Department declined to comment. The agreement has not been finalised and could fall though.<\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.theguardian.com\/business\/2015\/feb\/25\/morgan-stanley-26bn-deal-justice-department-settle-mortgage-bubble-case\" >Go to Original \u2013 theguardian.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment bank said late on Wednesday [25 Feb 2015] the $2.6bn will go to \u201cresolve certain claims\u201d the Justice Department intended to bring against Morgan Stanley over its role in the mortgage bubble and subsequent financial crisis.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-54534","post","type-post","status-publish","format-standard","hentry","category-capitalism"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/54534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=54534"}],"version-history":[{"count":0,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/54534\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=54534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=54534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=54534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}