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    The Banks caused the whole problem.............

    US investment bank JP Morgan has agreed to pay $4.5bn (£2.8bn) to investors who lost money on mortgage-related securities during the financial crisis.

    The settlement is with 21 major institutional investors.

    Mortgage-related investments were a major factor in the crisis, which began in 2007 with the collapse of the US housing market.

    Last month JP Morgan agreed a separate, preliminary $13bn deal with the US government over mortgage securities.

    As part of that deal $5.1bn would go to settle charges that the bank misled mortgage giants Fannie Mae and Freddie Mac during the housing boom. That settlement was the biggest ever by a US bank.

    full story BBC.

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