The perception is that trust has been abused. Reputation has been damaged. And now, if the bank can get this behind them, there is the opportunity to start down the long road and rebuild trust and reputation.
It's a serious matter to demonstrate lack of good faith in statements to investors and to the public. It's particularly cavalier five years after the United States bailed out TBTF banks with hundreds of billions in cash and trillions in ongoing subsidies, guarantees, and funding.
Fairness demands that we say it again: It may very well be that leadership team at JPMorgan Chase is shocked -- shocked! -- at all this criminality, and may simply lack the basic managerial skills needed to end it.