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HomeSEC Settles with JP Morgan/Bear Stearns: Crime Pays . . . . . . . . . . (“Why I Left Bear Stearns”) . . . . . . . . . . .
Posted by Larry Doyle on November 16th, 2012 8:29 PM |
This evening I feel the need to take a shower after having just read the most despicable settlement yet rendered by the SEC. In fact, having just read this settlement, I am embarrassed to be a citizen of a nation with such little moral fiber as to let what is a blatant criminal act go properly unpunished. This is a sad day in America. I do not write that for simple effect.
I write that because I believe a settlement this afternoon between the SEC and JP Morgan/Bear Stearns closes the door on perhaps the single most egregious criminal act I have yet come across while writing this blog. (more…)
JP Morgan Mortgage Fraud: Comments and Questions
Posted by Larry Doyle on October 2nd, 2012 8:58 AM |
Is yesterday’s announcement that the New York Attorney General (on behalf of the President’s Residential Mortgage-Backed Securities working group) is suing JP Morgan for fraud in selling mortgage-backed securities during 2006 and 2007 America’s long overdue call for justice?
Here is a copy of the suit. A few comments and questions.
First off, the activity in question occurred at Bear Stearns and not JP Morgan. JPM purchased Bear in the spring of 2008. I have long believed that selected parts of the mortgage origination process on Wall Street rose to the level of a racketeering enterprise. (more…)
