Atonement is complicated. JPMorgan has reached a tentative settlement of state and federal investigations over the sale of mortgage-backed securities that were at the heart of the financial crisis. The deal is positive for investors in that it would quantify the cost of this settlement with US regulators (JPMorgan faces a litany of other investigations) and represent a big step toward putting this issue behind the bank. But investors want certainty. To that end, the final deal may fall short of resolving the mortgage overhang for JPMorgan.
赎罪是一件复杂的事情。摩根大通(JPMorgan)已因出售引发金融危机的抵押贷款支持证券(MBS),就多项针对它的州和联邦调查达成初步和解。和解的达成对投资者来说是个好消息,它既确定了与美国监管机构和解的最终金额(摩根大通还面临一连串其他监管机构的调查),也意味着摩根大通像最终了结此事迈出了一大步。但投资者需要的是确定。就这一点而言,最终的和解或许并不能彻底解决MBS问题悬在摩根大通头上的威胁。