Skip to main content
Black Listed News
Trending Articles:
Trending Articles:

JPMorgan sued by New York Attorney General over mortgage-backed securities

Published: October 2, 2012
Share | Print This

J. P. Morgan & Co. Building panorama (1780915415)

New York Attorney General Eric Schneiderman has filed a lawsuit against JPMorgan Chase for fraud over faulty mortgage-backed securities packaged and sold by the former Bear Stearns.

It was the first action to come out of a working group created by President Barack Obama to go after alleged wrongdoing in the financial crisis, Reuters reported.

JPMorgan, which bought one-time rival Bear Stearns for $2 a share in March 2008, said in a statement it intended to contest the allegations.

The lawsuit alleged a "systematic abandonment of underwriting guidelines" in the selling of home loans that went into securities peddled by Bear Stearns. 


Share This Article...

Emigrate While You Still Can! Learn more...

More Blacklisted News...

Free Newsletter
Blacklisted Radio
Blacklisted Nation
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Podcasts on Youtube
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Stitcher
Podcasts on iTunes
Podcasts on Tunein

Our IP Address:



Calling for Contributors!

Got something to say?
We want to hear from you.

Submit your article contributions and participate in the world's largest independent online news community today!

Contact us today!

BlackListed News 2006-2017