jpmorgan and credit swiss to pay 417 mil for cheating

[Truthmatters]

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.

 

[Truthmatters]

this is for selling off the sub prime hidden in securities.


they cheated folks.

Its the ONLY reason they kept writing sub primes.

 

[Truthmatters]

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.

 

[CrusaderFrank]

That's about 1/3 of what Obama's friend and architect of the failed stimulus Jon Corzine stole from his customers

 

[CrusaderFrank]

Oh and fannie and freddie still have the $200 BILLION we used to bail them out

 

[Truthmatters]

not a lick of fact produced by you?

gee imagine my surprize

 

[Truthmatters]

Real Estate Recovery: See it, Believe it... and Then Invest in It!


this is what you are about the face.

Itsa actaully GREAT news but for you who HATE this country becuase you didnt get what YOU wanted it will be bad news.

Your bad news is Americas good news

 

[Truthmatters]

do you see what that chart is showing?


These are investors talking here NOT the Democratic party

 

[Truthmatters]

Case-Shiller Index Suggests Strong Start For 2013 Housing Market

 

[Truthmatters]

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.

 

[PoliticalChic]

this is for selling off the sub prime hidden in securities.


they cheated folks.

Its the ONLY reason they kept writing sub primes.

1. Laudatory though the attempt is, the desire of the Liberal state to exorcise greed, poverty and unhappiness, the cure is worse than the disease: the radical view that it is the responsibility to protect anyone who may claim to be powerless. The consequence, usual with big government is that the attempt is neither restrained, nor moderated.

a. To be accused by the bureaucrats of the EPA, OSHA, the Equal Opportunity Commission, FDA, Consumer Protection Board, etc., is to be ineluctably found guilty. This is because the organization in question’s first and only responsibility is to grow…and grow.

b. In contrast with the free market, it is not the people, but, rather, the government which decides failures and successes.
From David Mamet, "The Secret Knowledge," chapter ten.


The point, Ms. Truthie, is that Liberal government caused the crisis when FDR created Fannie and Freddie....

....insinuating government into the private economy, contrary to the authorizations of the Constitution.

Then, the government accuses others and, of course, finds them guilty, as Mamet correctly points out.

And then you pretend to believe them.

True?

 

[Truthmatters]

no you brain dead partisan hack.

The lenders wrote tens of thousands of more loans than the law required.


If they had ONLY written the amount of these loans that the law required NONE of this would have happened.

Lie lie lie is all you do.

Are you trying to prove your own theory that most people are NOT GOOD.

by showing the example in your self?

 

[Truthmatters]

Only partisan idiots blame that law.

Anyone who cares about facts doesnt go there with your lies

 

[Mad Scientist]

Total Amount of Derivatives world wide: 1,600 Trillion.
Penalty paid by JP Morgan: 417 Million.

Percent Penalty: 0.00000026.

That's like if I stole 1 Billion dollars from a Bank and instead of getting thrown in Jail, I would just pay a penalty of 1/00000000000000026th of 1 Dollar.

PLUS, I get to keep stealing MORE from the those same Banks!

But THIS is the best part!

JPMorgan and Credit Suisse did not admit or deny guilt.

 

[Mad Scientist]

See, if a Black guys robs a Liquor store of 2 or 300 bucks and it's his 3rd strike, he goes to Jail for the rest of his life!

But if you have an Economics Degree from the Ivy League and wear a $5,000 suit and steal Trillions what happens?

Nothing.

That's called "The American Justice System".

What a sick joke!

 

[Truthmatters]

Yeap just like when the reoublican party signed their consent decree when caught keeping black people from voting.


They get to deny they admitted to anything which in their minds means they didnt do anything wrong.


The facts still remain that they are lying thieving pieces of shit but hey alls well they dont lose much and dont have to admitt they are lying thieving pieces of shit.

 

[Truthmatters]

we need to get all Teddy on their asses if you ask me.

Huntsman like

 

[Mad Scientist]

Yeap just like when the reoublican party signed their consent decree when caught keeping black people from voting.


They get to deny they admitted to anything which in their minds means they didnt do anything wrong.


The facts still remain that they are lying thieving pieces of shit but hey alls well they dont lose much and dont have to admitt they are lying thieving pieces of shit.

Barack Obama's Treasury Secretary Tim Geithner is a JP Morgan insider.

Can you GUESS why Obama appointed him?

 

[PoliticalChic]

no you brain dead partisan hack.

The lenders wrote tens of thousands of more loans than the law required.


If they had ONLY written the amount of these loans that the law required NONE of this would have happened.

Lie lie lie is all you do.

Are you trying to prove your own theory that most people are NOT GOOD.

by showing the example in your self?

FDR caused the problem by the creation of Fannie and Freddie...inserting government in private enterprise.
You know that, don't you?
That darn Liberalism at it again.

Carter, the CRA, Clinton, Cuomo, HUD, Cisneros.....Frank, Dodd.
Democrats all.


True?

 

[PoliticalChic]

Yeap just like when the reoublican party signed their consent decree when caught keeping black people from voting.


They get to deny they admitted to anything which in their minds means they didnt do anything wrong.


The facts still remain that they are lying thieving pieces of shit but hey alls well they dont lose much and dont have to admitt they are lying thieving pieces of shit.

Wow!

Black folk sure are lucky you're around!!