From the BBC:
2 October 2012 Last updated at 09:40 GMT
Attorney General wants JPMorgan to pay damages
This is the first action to come out of a working group created by US President Barack Obama looking into the causes of the 2008 financial crash. …
The BBC’s business editor Robert Peston said there were some “jaw-dropping elements” exposed in the suit.
He said it disclosed “a manic and frenzied culture of procuring and packaging as many mortgages as humanly possible, to maintain the bonds spewing from the investment bank, to generate as much short-term profit as humanly possible”.
“All this is a bit like the fifth instalment in a series of horror films, with each succeeding production gorier than the preceding one,” adds our editor.
Schneiderman Files Suit Against JP Morgan Chase for “Multiple Fraudulent and Deceptive Acts”: here.
New York attorney general sues JPMorgan for mortgage fraud: here.
Did JPMorgan Chase Really Take A “Ten Billion Dollar Hit” For Uncle Sam? Here.
JPMorgan Chase’s Tactics to Squeeze Student Loans Debtors: here.
- JPMorgan sued over mortgage bonds (bbc.co.uk)
- Ghost Of Bear Stearns Haunts JPMorgan: N.Y. Hits Bank With Fraud Accusation (forbes.com)
- JPMorgan sued by New York Attorney General over mortgage-backed securities (blacklistednews.com)
- The $43 trillion bankster lawsuit and the mysterious murder of two NY toddlers (hangthebankers.com)
- New Mortgage Task Force Charges JPMorgan With “Systemic Fraud” (pbs.org)
- Chris Whalen: ‘Jamie Dimon Not So Brilliant After All’ (dailybail.com)