If Bush and the GOP are responsible for the economic downturn in 2007, why this?

[Yurt]

JPMorgan Chase and the Department of Justice have tentatively agreed to a $13 billion civil settlement to resolve several investigations into the bank's mortgage securities business, according to a U.S. official familiar with the negotiations.
Mortgage-backed securities and related derivatives were a key cause of the financial crisis, saddling financial institutions with losses as the housing market cratered. If completed, the settlement would be substantially larger than any law enforcement officials have secured from a single institution in connection with the crisis.

The settlement includes $9 billion in fines and penalties and $4 billion in 'consumer relief,' including home loan modifications, the official said.

JPMorgan, U.S. in tentative $13 billion settlement - Oct. 19, 2013

how did bush and the gop control jp morgan?

 

[American_Jihad]

JPMorgan Gets the Obama Treatment​

October 22, 2013 By Arnold Ahlert

...

A 2012 Politico profile was equally glowing, noting that Dimon was one of President Obama’s “most prominent Wall Street friends, a rare high-profile Democrat in an industry dominated by low-tax, free-market Republicans.” That friendship resulted in Dimon making 16 trips to the White House, including three meetings with Obama himself, as part of an effort to make the president seem more business-friendly.

All of that changed when Dimon, despite his Democratic leanings, began to criticize the administration’s economic policies during the 2012 election campaign. In May 2012, while characterizing America as a nation in possession of a “royal straight flush” represented by the world’s strongest military, best businesses, most entrepreneurial workforce and deepest capital markets, Dimon also cited three failings of the Obama administration: the debt ceiling crisis, the failure to adopt the Simpson-Bowles recommendations for fixing our financial crisis and the administration’s “constant attack on business.” When asked why corporate America wasn’t hiring more in a time of record profits, Dimon upped the ante, insisting that the 4 million jobs added by business had nothing to do with government policy. ”It should have been 8 million,” he said, whacking the administration yet again.

...

JPMorgan Gets the Obama Treatment | FrontPage Magazine