Day: September 2, 2015

“The point is that those predicting Mr. Trump’s imminent political demise are ignoring the lessons of recent history, which tell us that poseurs with a knack for public relations can con the public for a very long time. Someday The Donald will have his Katrina moment, when voters see him for who he really is. But don’t count on it happening any time soon.”

JPMorgan Chase settled a lawsuit accusing it of putting its interests ahead of an historic church endowed by descendants of drug company founder Eli Lilly and mismanaging its trust accounts. Lawyers for the bank and the Christ Church Cathedral told a federal judge in Indianapolis on Friday they reached an agreement, according to a court filing. Settlement details weren't included in court records. The church, founded in 1837 and listed on the National Register of Historic Places according to its website, accused JPMorgan of causing its trusts to lose about $13 million in value from July 2004 to December 2013. The losses flowed from the bank's decisions to "purchase over 177 different investment products, mostly from itself, using church funds," according to a complaint filed two years ago.