JP Morgan Staggering?

The news hit every major paper because the number of bonds in question was $95 billion. And this was the first time we saw blind investors figure out who the other was to get a quorum together to fight JP Morgan. You see to get the trustee to actually do their job and make sure the loans in the mortgage security are what the bank said they are; you need at least 25% of the investors to complain. Well that’s happen now and as a result we see top mortgage industry analyst like Mark Hanson, sending warning notes out to clients about JP Morgan facing a mega billion payout over the sins of Bear’s Mortgage team run by Tom Marano.

Speak Your Mind