jpmorgan and credit swiss to pay 417 mil for cheating

Discussion in 'Current Events' started by Truthmatters, Nov 16, 2012.

  1. Truthmatters
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    http://www.nytimes.com/2012/11/17/b...-mortgage-settlement.html?partner=rss&emc=rss


    Robert Khuzami, director of the S.E.C.’s Division of Enforcement, in a statement called mortgage products like those sold by the banks “ground zero in the financial crisis.”

    Friday’s settlement ends the agency’s investigation into how JPMorgan dealt with its mortgage securities acquired through Bear Stearns, the troubled unit it purchased in the depths of the 2008-9 financial crisis.

    Several other Wall Street firms also packaged and sold subprime mortgages, which resulted in billions of dollars in losses for investors.

    The S.E.C. has brought more than 100 cases related to the financial crisis, but has struggled to secure a big victory against individuals responsible for some of the reckless behavior that nearly felled the American economy.
     
    Last edited: Nov 16, 2012
  2. Truthmatters
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    this is for selling off the sub prime hidden in securities.


    they cheated folks.

    Its the ONLY reason they kept writing sub primes.
     
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    SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
    Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
    FOR IMMEDIATE RELEASE
    2007-190
    Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
     
  4. CrusaderFrank
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    That's about 1/3 of what Obama's friend and architect of the failed stimulus Jon Corzine stole from his customers
     
  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Oh and fannie and freddie still have the $200 BILLION we used to bail them out
     
  6. Truthmatters
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    not a lick of fact produced by you?

    gee imagine my surprize
     
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    do you see what that chart is showing?


    These are investors talking here NOT the Democratic party
     
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    how does it FEEL to call yourself an American and to hope and pray this country is not on the verge of a big recovery?


    Ill tell you what it tells you about yourself.

    Your not a patriot your a partisan.
     

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