This video from the USA is called Madoff Trustee Sues JPMorgan, Claims Bank Aided Fraud.
From the BBC:
2 October 2012 Last updated at 09:40 GMT
JPMorgan sued over Bear Stearns mortgage securities
Attorney General wants JPMorgan to pay damages
The New York Attorney General has sued JP Morgan Chase for allegedly defrauding investors who lost more than $20bn (£12bn) on mortgage-backed securities sold by Bear Stearns.
JP Morgan bought the investment bank Bear Stearns in March 2008. …
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.
One should hope that at least one of JP Morgan’s overpaid advisers, Tony Blair, will be sued soon as well.
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)
Reblogged this on euzicasa and commented:
Thanks for reblogging! By the way, I had to rescue your comment from the spam box.
Pingback: British big business fraud | Dear Kitty. Some blog
Pingback: JP Morgan bank Chinese corruption scandal | Dear Kitty. Some blog
Pingback: JPMorgan banking scandal news | Dear Kitty. Some blog
Pingback: JPMorgan, other US banks, committed fraud | Dear Kitty. Some blog