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.
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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