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NOV 19, 2009 12:00am ET

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JPM Chase Exec Poised to Join B of A

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Christopher Flanagan, head of asset-backed securities research at JPMorgan Chase, is joining Bank of America, according to people familiar with the matter.

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What the Mortgage Settlement Means to Banks
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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover

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