Shut JP Morgan Chase?

This week the Big Picture has been  posting parts of Josh Rosner's report on JP Morgan Chase focusing on the firn's risk management and internal control environment.  

Here's what I learned from the introduction to the report.  Chase spends a lot of money on legal expenses - almost $16 billion since 2009.  In addition, they have paid more than $8 billion in settlements in that time; this is 12% of their net income for that period.

Part 1 is a catalogue of Chase's attempts to get the FDIC to pay for some of the losses stemming from Chase's purchase of Washington Mutual.

Part 2 documents numerous failures of internal control and violations of the law, particularly with regards to sanctions and money laundering.

Part 3 reviews problems with the segregation of customer funds.

Part 4 lambastes both Chase and the regulators for the crappy investigative report re the London Whale scandal.

Couple this report with that of the Senate and you've got enough to start shutting Chase down.