alj
Five Star Member
Number of posts : 9633
Registration date : 2008-12-05
Age : 80
Location : San Antonio
 | | Subject: JP Morgan Chase's Worst Nightmare Tue Nov 11, 2014 8:39 am | |
| http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106?page=2 - Quote :
- Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing.
Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the bank's mortgage operations.
In 2006, after a few years at a white-shoe law firm, Fleischmann ended up at Chase. The mortgage market was white-hot. Banks like Chase, Bank of America and Citigroup were furiously buying up huge pools of home loans and repackaging them as mortgage securities. Like soybeans in processed food, these synthesized financial products wound up in everything, whether you knew it or not: your state's pension fund, another state's workers' compensation fund, maybe even the portfolio of the insurance company you were counting on to support your family if you got hit by a bus.
Read more: http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106#ixzz3ImM9RDL1 Follow us: @rollingstone on Twitter | RollingStone on Facebook |
|
Featured Members 
Articles 
