JPMorgan Said to Face SEC Subpoena Along With Credit Suisse Over Failed Mortgages

“We’re really starting to finally get into evidence that suggests blatant fraud”


JPMorgan Said to Face SEC Subpoena Along With Credit Suisse

JPMorgan Chase & Co. (JPM) received a subpoena from the U.S. Securities and Exchange Commission over failed mortgages, a person familiar with the investigation said, as the agency probes banks including Credit Suisse Group AG (CS) for allegedly failing to share refunds from sellers of faulty debt.

Credit Suisse received a subpoena from the SEC last week, bond insurer MBIA Insurance Corp. said in a filing yesterday in a lawsuit against three of that Zurich-based bank’s units. The agency asked New York-based JPMorgan for information after a court in January unsealed allegations made about Bear Stearns Cos.’ practices in another suit, said the person, who declined to be identified because the matter isn’t public.

U.S. investigators have been scrutinizing companies involved in the mortgage business after the worst collapse in home prices since the Great Depression.

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6 Responses to “JPMorgan Said to Face SEC Subpoena Along With Credit Suisse Over Failed Mortgages”
  1. l vent says:

    President Obama told the troops yesterday that he cut off the head of Al Queda by killing bin laden. Now it is time he cut off the head of the foreign financial terrorists who have hijacked America. Death to the foreign financial fascist tyranny!!! Death to the Federal Reserve/Wall Street/Bankster foreign owned and operated multinational terror machine!!! They do not own America.

  2. talktotennessee says:

    Well, someone will get rich off the civil suits for wrongdoing that defrauded investors, entities, cities, etc. etc.
    Hand slapping will occur. Banks will pay. . . .but to whom?
    Politicians quiet on third rail regulation issues?
    What happens to homeowners losing homes?
    Where is justice or remedy for them?
    Where are criminal charges, prosecution for wrongdoing?
    To help homeowners or the housing industry recover from criminal fraud, is it merely “moral hazard?”
    Is anyone asking for principal writedowns for defrauded homeowners or better modifications in any of these suits? No!

    Didn’t one class settlement net under $3,000 per (used) plaintiff. Hmm, a house payment or two?
    Business as usual between the big guys fighting to make and/or keep a buck!

  3. l vent says:


    • housemanrob says:

      The problem is that…………they don’t care and except for us……….trust me on this……….I’m out there, interacting with many people every day and they are FAST ASLEEP, like sheep…….being led to the slaughter!

      • l vent says:

        You are so right, housemanrob! When I went to court the other day for my fraudclosure, only 1 other defendant out of the many, questioned the banks standing. It is sometimes hard to believe we could all be living on the same planet! Now I can see why there is no Moratorium on Fraudclosures. These criminal bastards are still getting away with this ginormous Ponzi Scheme. People talk about the price of gas and everything sky high? I tell them, BLAME THE FEDERAL RESERVE. I mean, DUH!!!!!!!!!! Some people will never get that all of this financial strife is part of the ongoing PONZI SCHEME and these bastards want to destroy America. The hippies and the radicals in the 60’s got the job done back then, We need movements nationwide or they will not stop trying to destroy us. Thom Hartman had an excellent interview yesterday on RT news with a gentleman by the name of Les Leopold who wrote a book about the Ponzi Scheme. He really gets it. You can watch his interview at: conversations with great

      • l vent says:

        Here are a couple more websites RE, Les Leopold. This guy really gets it:

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