Top Ten Videos to watch

HISTORY Brings 'Roots' Cast And Crew To The White House For Screening
Graduates tossing caps into the air
Freddie Gray Baltimore Protests
Mid section of man in graduation gown holding diploma
Legendary Baseball Player Tony Gwynn's Family Files A Lawsuit Against Big Tobacco
ME.jailhouse#2.0117.CW Montebello City Council has approved use of a private contractor to run the n
Chicago Mayor Rahm Emanuel Addresses Police Misconduct At Chicago City Council Meeting
WWII Soldiers Standing In A Flag Draped Sunset - SIlhouette
Students Taking a College Exam
Bill Cosby Preliminary Hearing
Hillary Clinton Campaigns In Louisville, Kentucky
Worried black businesswoman at desk
Tyler Perry And Soledad O'Brien Host Gala Honoring Bishop T.D. Jakes' 35 Years Of Ministry
Teacher with group of preschoolers sitting at table
FBI Officials Discuss Apprehension Of Explosions Suspect After Three-Day Manhunt
NFC Championship - San Francisco 49ers v Atlanta Falcons
Protests Erupt In Chicago After Video Of Police Shooting Of Teen Is Released
Nine Dead After Church Shooting In Charleston
Portrait of senior African woman holding money
President Bush Speals At Federalist Society's Gala
Police Line Tape
Senior Woman's Hands
Police officers running
New Orleans Residents Return to Housing Projects
David Banner
Leave a comment

JP Morgan Chase & Co

JP Morgan Chase and the Justice Department reached a settlement for $13 billion this week to resolve allegations that the bank knowingly sold faulty mortgage securities, behavior that contributed to the nation’s financial meltdown. It is the largest penalty ever paid to the government by a single company. Among the funds to be paid out are $4 billion worth of aid to distressed homeowners.

Al Jazeera America’s Ali Velshi broke down where the money is going on NewsOne Now with Roland Martin (the Wall Street Journal has a detailed breakdown too).  Velshi also explained why it has been so hard to hold banks accountable for their actions in the years before the financial crisis. “These cases are very hard largely because in many cases laws are not broken; the regulations are just not good,” he said.

However, this settlement is a sign of things to come, Velshi suggested. “The bottom line is, it does appear that the Attorney General and the Securities and Exchange Commission have become much, much more aggressive, and we’ve yet to see if we’ll see any more prosecutions of other banks. But they all did the same things. So if you’ve got JP Morgan on this, can you go after Bank of America? Can you go after Citigroup?”

Hear more in the clip below.

Be sure to tune in to NewsOne Now with Roland Martin, weekdays at 7 a.m. EST.

Also On News One: