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.
By Jamie Loves Alec, October 17, 2013 @ 2:04 pm
Is it just me, or is Jamie Demon getting shopping tips from Alex Baldwin?
Reference above photo with this one of Alec Baldwin in Capital One commercial: http://www.themill.com/media/1081737/capital_one_video.jpg
By Bago Plenty, November 26, 2013 @ 6:03 pm
Apparently, the $14 billion DoJ settlement from summer 2013 PLUS the $4.5 billion settlement with 21 major institutional investors from November 2013 PLUS the $9 billion they owe the UK, CEO Jamie Dimon remains arrogant and pompous in his internal email to employees in October 2013 where he stated that the financial obligations are of little impact to the bottom line for calendar year 2013:
http://www.scribd.com/doc/187436008/JPMorganChase-2013Q3-CEO-email-DoJ-Lawsuit-White-Whale-Incident