Bad Boy Chase part Deux

In addition to our post a couple of days ago about all of JP Morgan Chase’s recent transgressions and the price they are paying for it (and how their internal greed makes them generally unsuitable as a consumer bank choice), the latest bad news for Chase (WSJ J.P. Morgan Chief Meets with Holder 9/27/13) is the price they are paying for fleecing customers with bogus mortgage backed securities in the mid 2000’s.

Chase tried to weasel out of their troubles with a measly $3 billion offer which was quickly rejected, and has now only a day later, grown to $11 billion, and will likely grow more as they try to include liabilities from other lawsuits related to the crappy mortgage backed securities they passed off to unsuspecting investors.

Time again to ask yourself if this is the kind of bank you want to do business with.

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