Whistleblower Details JPMorgan Mortgage Market Crimes, Justice Department Covering Them Up

By: Friday November 7, 2014 10:36 am

With the return of Matt Taibbi to Rolling Stone Magazine comes an amazing story about how the depraved crimes of JPMorgan Chase were covered up by Attorney General Eric Holder despite there being a whistleblower willing to testify. The whistleblower is Alayne Fleischmann, a former lawyer who worked for JPMorgan Chase overseeing mortgage securities. Fleischmann has been talking to federal regulators for years in hopes of seeing justice done for JPM’s role in causing the 2008 financial crisis by selling fraudulent mortgage securities.

Fleischmann details how those in charge of due diligence at the Too Big To Fail bank were slowly beaten down and ignored by senior managers after being told the financial products JPMorgan were selling were fraudulent. That executives at JPM knew, for a fact, that they were committing securities fraud in the mortgage market whose meltdown would lead to millions losing their homes and hundreds of billions of taxpayer dollars going to bail out Wall Street.

 

Why Did We Give JPMorgan Months To Reveal They Were Hacked?

By: Sunday October 5, 2014 4:00 pm

Lots of people have read that the JPMorgan Chase data intrusion started in June and went until mid-August. Maybe you read some of the technical publications that covered it like ARSTechnica, The long game: How hackers spent months pulling bank data from JPMorgan or maybe some business press back then JPMorgan Hackers Came In the Front Door — in June.

83 Million Reasons We Should Break Up JPMorgan Chase

By: Friday October 3, 2014 4:46 pm

As you watch the story unfold and you listen to experts and pundits talk, see how much time they spend addressing breaking up the bank. Most of the energy will go into, “how to protect your money and what Chase can do to fix it.”

DOJ and Treasury Schooled by College Athletes

By: Saturday August 9, 2014 9:00 am

First it was former Northwestern University quarterback Kain Coulter and his football teammates taking a chunk out of the NCAA, and yesterday it was former UCLA basketball player Ed O’Bannon and 19 other former college players. They did what few thought possible in going after a Too Big to Challenge institution, and won.

You know, the president is a sports-loving guy. Imagine what would happen if he called the attention of the DOJ and Treasury to these college athletes: “This is how you go after Too Big To Challenge institutions.” . . .

JPMorgan Twitter Campaign Cancelled Due to Lulz

By: Thursday November 14, 2013 1:20 pm

JPMorgan’s marking department had a great idea – lets host a Twitter chat or “Twitter Takeover” to promote our company and rehabilitate our horrible reputation. What could possibly go wrong?

It’s “Talk like a Pirate Day” — but which set of Pirates?

By: Thursday September 19, 2013 5:42 pm

The days of pirates sailing the Spanish Main are long in the past. No more sacking of Cartagena. No, today’s “pirates” wear business suits and do their sailing on Wall St. Just today, we have reports that JPMorgan Chase is paying a $920M fine for the “London Whale Fail” trading losses. Amazingly enough, JP Morgan is even admitting “fault”.

JPMorgan Under Criminal and Civil Investigation Over Mortgages

By: Thursday August 8, 2013 12:35 pm

One of Wall Street’s Too Big To Fail banks is under criminal investigation for its practices in the mortgage market. JPMorgan Chase & Co. disclosed in a SEC filing that it was under criminal investigation and had already been notified by the Department of Justice’s civil division that it had violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007.

Institutional Investors Love Sleazy Bankers

By: Wednesday May 22, 2013 2:00 pm

Institutional investors manage your retirement money. They just love sleazy bankers who deliver to the bottom line.

Jamie Dimon’s Sleazy Record

By: Monday May 20, 2013 4:16 pm

On May 21, shareholders of JPMorgan Chase will have the opportunity to express their views of the Chairman/CEO of the mega-bank, and PR people have been filling the inboxes of every possible media outlet. They even got to the New York Post which ran an Op-Ed by Charlie Gasparino on Dimon’s bad feeling about splitting the roles of Chairman of the Board and Chief Operating Office.

Senate Investigates JPMorgan Chase’s London Whale Fail, LIVE Now

By: Friday March 15, 2013 6:28 am

This morning the Senate Homeland Permanent Subcommittee on Investigations investigates the $6.2 billion dollar trading loss JP Morgan Chase incurred when they “ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portfolio“.

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