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NOV 27, 2013 - TheStreet

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Banks Can Absorb $155 Billion in Crisis-Era Litigation: S&P

NEW YORK (TheStreet) -- The nation's largest banks including Bank of America , JPMorgan , Citigroup , Wells Fargo , Goldman Sachs and Morgan Stanley can absorb at least $155 billion in mortgage related losses, according to ratings agency Standard & Poor's. The Nov. 25 report by S&P stated that prospective mortgage litigation is one reason for a negative outlook to Bank of America's A- credit rating. Currently, S&P holds a stable outlook on JPMorgan's current credit rating. Earlier in November, JPMorgan agreed to a $13 billion settlement between it and multiple government ... Read More

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