Tag Archives: jp morgan chase

Does The SEC Have The Resources To Police Wall Street?

JP Morgan Chase paid out $154 million to settle with the SEC over allegations that the bank improperly marketed its mortgage-backed securities. Politicians are eager to keep pointing fingers at Wall Street for the economic collapse. They’re not so eager … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Does The SEC Have The Resources To Police Wall Street?

JP Morgan Chase Agrees To Settle Mortgage Case

These settlements are common on Wall Street. The bank pays over millions of dollars but admits no wrongdoing. Nobody goes to jail. The SEC gets to crow that it was right and that it is protecting investors. CNN reports: JPMorgan … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on JP Morgan Chase Agrees To Settle Mortgage Case

Massive Federal Reserve Profit Of $78.4 Billion In 2010

I guess you can make good by doing good. The Federal Reserve has been intervening massively into the economy, in particular by buying mortgage bonds. I was surprised to find that the Federal Reserve made an impressive profit by so … Continue reading

Posted in federal reserve | Tagged , , , , , | Comments Off on Massive Federal Reserve Profit Of $78.4 Billion In 2010

New Jersey To Monitor Mortgages

The six big banks affected can’t be happy about this. New Jersey Supreme Court Chief Justice Stuart Rabner said there were too many irregularities in the banks’ foreclosure process. The banks will have to present their case in court next … Continue reading

Posted in Banks, Foreclosure | Tagged , , , , , | Comments Off on New Jersey To Monitor Mortgages

Will Bank of America Buy Back Tens Of Billions Of Bad Mortgages?

There are perverse incentives in the mortgage game but none more perverse than the fact that the entity selling a loan rarely has the same incentive that the loan be repaid than the eventual owner of a loan. Citigroup and … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Will Bank of America Buy Back Tens Of Billions Of Bad Mortgages?

Mortgage Debt Is Only A Part Of Bank Troubles

Report: Mortgage debt has been the poster child for this financial crisis, and rightly so, considering the sheer size of the market and the juicy stories about people getting swindled and then losing their homes. With property prices falling across … Continue reading

Posted in Banks | Tagged , , , , , | Comments Off on Mortgage Debt Is Only A Part Of Bank Troubles