Washington Mutual

John Gapper

Is the $13bn settlement between JPMorgan Chase and the US state and federal authorities long-overdue justice for an errant bank, or a shakedown by politicians who went back on their word?

Charles Gasparino, the maverick Fox News business correspondent and commentator, thinks it is the latter. He wrote in the New York Post this weekend

John Gapper

My FT column this week is on Magnetar:

Two years after the subprime mortgage lending bubble started to pop with the collapse of Bear Stearns, politicians still want to know who to blame. They are making slow progress.