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Thread: JPMorgan reaches $4.5 billion settlement with mortgage investors

  1. #1
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    JPMorgan reaches $4.5 billion settlement with mortgage investors

    JPMorgan announced a $4.5 billion settlement Friday with institutional investors who suffered losses on mortgage securities purchased from the bank in the run-up to the financial crisis.

    The deal resolves one of JPMorgan's many legal headaches in connection with securities tied to risky mortgages it allegedly sold while misrepresenting their quality. The bank called it "another important step" in addressing these issues.
    JPMorgan reaches $4.5 billion settlement with mortgage investors - Nov. 15, 2013


    Imagine that. A bank offering up $4.5 billion voluntarily without admitting any wrong doing. Someone wants to get this story squashed pretty bad.
    That is probably only 10% of what they made in the scam.

  2. #2
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    Re: JPMorgan reaches $4.5 billion settlement with mortgage investors

    4.5 billion to investors. 0 to people who actually bought those scam mortgages and have since lost their live savings, jobs, and homes.
    Liberté. Égalité. Fraternité.

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    Re: JPMorgan reaches $4.5 billion settlement with mortgage investors

    Quote Originally Posted by Paschendale View Post
    4.5 billion to investors. 0 to people who actually bought those scam mortgages and have since lost their live savings, jobs, and homes.
    Have to give Obama credit at least for fighting foreclosure practices. Difficult to give him credit for much, and admittedly I think it was someone else' idea, but that was a good thing.

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    Re: JPMorgan reaches $4.5 billion settlement with mortgage investors

    Quote Originally Posted by Paschendale View Post
    4.5 billion to investors. 0 to people who actually bought those scam mortgages and have since lost their live savings, jobs, and homes.
    And marriages...family


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