DOJ’s 11-page “Statement of Facts” letter of JP Morgan’s civil settlement; No mention of Greenpoint toxic loans

And they wonder why they lost Congress. They’ll blame it on everything else – and never even mention the Wall Street frauds or attempt to protect American citizens.

Justice League

JP Morgan Building of Bonds

Here is  the DOJ’s 11-page “Statement of Facts” that accompanied the November 2013 JP Morgan Chase civil settlement. The statement never used former JPMorgan Chase lawyer and whistleblower’s  Alayne Fleischmann name, however, the statement cited the letter she’d written to a bank official. Which is interesting  that statement stated “None of this was disclosed to investors.” From the DOJ statement:

Prior to JPMorgan purchasing the loans, a JPMorgan employee who was involved in this particular loan pool acquisition told an Executive Director in charge of due diligence and a Managing Director in trading that due to their poor quality, the loans should not be purchased and should not be securitized. After the purchase of the loan pools, she submitted a letter memorializing her concerns to another Managing Director, which was distributed to other Managing Directors. JPMorgan nonetheless securitized many of the loans. None of this was disclosed to…

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2 thoughts on “DOJ’s 11-page “Statement of Facts” letter of JP Morgan’s civil settlement; No mention of Greenpoint toxic loans

  1. The problem also is that the evicted and the homeless who have no address cannot vote, except as I recall in San Francisco!

    Dubin Law Offices Harbor Court, Suite 3100 55 Merchant Street Honolulu, Hawaii 96813

    gdubin@dubinlaw.net (808) 537-2300 (office) (808) 392-9191 (cellular) (808) 523-7733 (facsimile)

    >

  2. And if it wasn’t for the whistleblower finally breaking her silence on exposing the toxic loans of Greenpoint, we would have never known that Greenpoint toxic loans were never mention in settlement and the DOJ used the whistleblower’s findings of JP Morgan’s toxic loans not Greenpoint’s loans without notifying her in order to cut a deal with the bank. In the end, the investors were screwed and so were the homeowners whose loans were Greenpoint. And statues of limitation certainly played a role of not going after Greenpoint’s executives.

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