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Wall Street analyst on reported JP Morgan $13 billion deal with DOJ

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Wall Street analyst on reported JP Morgan $13 billion deal with DOJ

Wall Street analyst on reported JP Morgan $13 billion deal with DOJ
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Wall Street analyst on reported JP Morgan $13 billion deal with DOJ

CBSTV Videos 0:56 mins

Mike Mayo, senior research analyst for banks at CLSA, says the tentative agreement JP Morgan has struck with the Department of Justice to a pay a record $13 billion fine over faulty mortgage securities the bank sold to investors would be a "watershed event" in the banking industry.

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