Readers need more facts to put news in perspective
11/22/2013 2:10 PM
11/22/2013 1:03 PM
Re "Giant bank to pay billions" (Page A1, Nov. 20): I am continually troubled by the sensational headlines echoed across the majority of news media and lack of objective perspective concerning those headlines. For instance, we are told JPMorgan Chase is facing a $13 billion fine, the largest fine in history. Compared to what? What was the previous largest fine? Is the number inflation adjusted? I had to go online to find out from a Huffington Post article that this "largest fine in history" represents two-thirds of one year's net profits and that JPMorgan has been able to set aside $23 billion for such an event. Please give us more facts so readers can draw their own conclusions as to how punitive this settlement really is.
-- Fred Sage, Orangevale
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