U.S. government to sue JPMorgan in mortgage case: sources
Source: Reuters
Reuters) - The U.S. Justice Department is preparing to sue JPMorgan Chase & Co over mortgage bonds it sold in the run-up to the financial crisis, a sign the bank's legal troubles are not yet over.
A lawsuit, first reported by Reuters, could come as early as Tuesday, people familiar with the matter said on Monday.
JPMorgan spokesman Brian Marchiony and Justice Department spokeswoman Adora Andy Jenkins declined to comment.
The bank disclosed in August that federal prosecutors in California were conducting criminal and civil investigations into the bank's mortgage securities.
Read more: http://www.reuters.com/article/2013/09/23/us-jpm-mbs-california-idUSBRE98M13020130923
Wilms
(26,795 posts)I've been turning blue waiting. Let's hope this is going to happen.
Rhiannon12866
(205,763 posts)Passing it on to my financial advisor, just in case...
polynomial
(750 posts)Hes got high apple pie, in the sky hopes
So any time your gettin low
Stead of lettin go
Just remember that ant
Oops there goes another rubber tree plant.
Did anyone ever think that the wars and economic misery that the Bush era created could never be resolved.
Obviously to all of us this political theater was nothing more than profiteering plan by the perfect one percent that tied worldwide economies.
Which rings true to the famous words that Its Too big To Fail like a plague, a sickness that must burn itself out, or an economic algorithm that will only stop till it burns itself out. I think science calls this an exothermic process. Here the one percent is caught swindling land title ownerships from the citizen. The whole secret trillion dollar derivative market place is such a radioactive crime it must be kept secret because of the legions of political and business connections would expose very near and dear political friendships both Democratic and Republican.
The crime is so severe the perfect one percent and the media they control know this secret money trillion dollar value derivative market is tied to all their own wealth. Exactly the reason president Obama with his economic minions has to carve economic pie very, very carefully.
dotymed
(5,610 posts)this is hard to believe.
I hope this is not more theater.
America cannot move forward until these hideous crimes against Americans have been prosecuted.
Ideally, Glass-Steagall will be re-instated to protect us from further instances.
seabeckind
(1,957 posts)there's still some money left in the hands of the 99%...we've got to get that taken care of before we cut into the bank profits.