New Orleans JP Morgan Chase finally agreed to pay a $13 billion fine to compensate for a small part of its mortgage mischief. Experts doing the math and calculating the formula for comparable settlements at 2% of the damage done and then estimating the potential level of bad mortgages sold, believe that Chase might have gotten [...]
Little Rock Ok, you remember that we were skeptical when news of the $13 billion record breaking settlement between JP Morgan Chase and the Justice Department was announced until the details became clearer. I just wasn’t sure the leopard could change its spots by buying a new paint job no matter what the price. Now, [...]
New Orleans There are many small town papers that used to thrive by feeding their readers the daily police reports. These days reading the financial pages is more than an adequate substitute, since every day we seem to get another perp walk in the criminal conspiracy now called modern banking.
I know it’s tedious to [...]
New Orleans My goodness, hysteria has broken out among the financial chattering class with the news of a $13 billion proposed settlement between JP Morgan Chase and the Justice Department and Federal Housing Finance Agency over the bank’s handling of the mortgage crisis. The lead editorial in the Wall Street Journal claimed variously that parts [...]
Lafayette The monitor of the $25 billion bank mortgage scandal settlement around mass produced, illegal documentation finally made his report, and the results continue along the same depressing track that has now been deep rutted since the housing collapse in 2008. Once again banks got credit, largely for paying themselves back money out of the [...]
Toronto After years of big banks essentially flipping off their customers and borrowers fighting foreclosures in no small measure because banks were more than willing to take the money and run on the government’s bailout, but were heedless of the damage they were doing to their borrowers’ lives and communities, Gretchen Morgenston in the New York [...]