The JP Morgan Chase smoking gun

Proof that JP Morgan Chase knowingly peddled mortgage-backed securities by overstating their value (WSJ, J.P. Morgan Insider Helps U.S. in Probe, 10/1/13).

Justice Department lawyers are emboldened by documents, uncovered in the course of their investigation, that point to J.P. Morgan knowingly peddling mortgage-backed securities whose underlying loans were of lesser quality than pitched to investors, according to people familiar with the investigation.

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