Fraudclosure | JPMorgan Chase Profit Jumps Despite Continued Mortgage Woes

“I would do anything to get it done today,” Jamie Dimon, JPMorgan’s chief executive, said of the settlement talks on a conference call Thursday.

“Honestly, I would get in an airplane, fly down there, and get it done today if I could,” he said of the talks on another conference call. “It would be good for the United States of America to finish this stuff and move on.”

“This overhang of issues and foreclosures and processes and procedures and litigation is not a good thing for the health of the economy.”

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JPMorgan Chase Profit Jumps Despite Continued Mortgage Woes

NEW YORK — JPMorgan Chase, the second-largest U.S. bank by assets, reported a 13 percent jump in profits, to $5.4 billion, as lending continued to slide, fewer borrowers fell behind on their payments and problems with its mortgage practices again dampened earnings.

The lender’s overall revenues were up 7 percent to $26.8 billion, thanks to increased fees from its various units, offsetting declining interest income from lending to borrowers. Its profit was also boosted by a release of $1.2 billion in reserves back into income, helping it to beat analysts’ estimates.

The bank set aside less cash to cover potential losses on soured loans, further boosting earnings and indicting that the lender believes the number of delinquent borrowers will continue to dwindle as the slumping economy slowly improves. The company set aside $1.8 billion to cover credit losses, a 46 percent decrease from the same period last year, its earnings documents show.

Check out the rest here…

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Comments
40 Responses to “Fraudclosure | JPMorgan Chase Profit Jumps Despite Continued Mortgage Woes”
  1. lvent says:

    EVERYONE, GOOGLE UNITED STATES NOTE 1963.

    • lvent says:

      Check out this website, it talks all about the 1963 UNITED STATES NOTE;

      http://www.john-f-kennedy.net/thefederalreserve.htm

      • lvent says:

        Louis T. Mc Fadden, who was the Chairman of the House Banking Committee back in the 1930’s. In describing the FED, he remarked in the Congressional Record, House pages 1295 &1296 on June 10, 1932:

        “Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve banks. The Federal Rserve Board, a Government board, has cheated the Government of the U.S. and the people of the U.S. out of enought money to pay the national debt. The depradations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the U.S., has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.”

        Sound familiar?

        J.F.K. reasoned that by returning to the constitution whcih states that only Congress shall coin and regulate money, The Soaring National Debt could be reduced by not paying ineterest to the bankers of the Federal Reserve System, who print paper money then loan it to the Government at interest. JFK signed EXECUTIVE ORDER 11110 on June 4, 1963 which called for the issuance of 4,292,893,815 in UNITED STATES NOTES through the U.S. TREASURY rather than the Federal Reserve System. That same day Kennedy signed a Bill changing the backing of one and two dollar bills from silver to gold, adding strenth to the weakened U.S. CURRENCY.

        Kennedy’s Comptroller of the Currrency James T. Saxon had been at odds to the powerful Federal Reseve Board for some time encouraging broader lending investments and lending power for banks that were not part of the Federal Reserve System. Saxon also had decided that non-Reserve banks could underwrite the State and local general obligation bonds, again weakening the dominant Federal Reserve Banks.

  2. lvent says:

    European Bank Stress Tests are all the talk today on CNBC. So far, most passed by the skin of their ass, some failed. This is after how much in debt based capital injections from their owners to prop up their perps who are robber barons of the world via their banking proxies? What a fraud, a scam and a farce.

  3. Jason Werner says:

    Profit jumps? hahahaha

    They must have learned that one from Bernie Madoff. These banks know how to manipulate numbers.

    • LVLawman says:

      Jason:

      Banks and insurers certainly can manipulate numbers. They do it through manipulation of their “reserves for loss contigencies”. Anyone who believes that the banksters losses, including the huge settlements in the billions they are all calmoring to get, are going to be lower in the future than in the past is dreaming. The easiest way not to add to reserves is to call the lawsuites by the defrauded purchasers of mortgage backed securities…………………..WITHOUT MERIT! No reserve, just a footnote in the financial statements.

  4. Beth A. says:

    This should open the door to some more CLASS ACTION, action. 🙂
    I’m still hoping they go down in flames in the not too distant future.

    U.S. Securities and Exchange Commission
    Litigation Release No. 22031 / July 7, 2011
    Securities and Exchange Commission v. J.P. Morgan Securities LLC, Civil Action No. 11-cv-03877-WJM-FM (D.N.J. July 7, 2011)

    SEC Charges JPMS with Fraudulent Bidding Practices Involving Investment of Municipal Bond Proceeds
    J.P. Morgan to Pay $228 Million to Settle Charges By SEC, Others

    The Securities and Exchange Commission today charged J.P. Morgan Securities LLC (JPMS) with fraudulently rigging at least 93 municipal bond reinvestment transactions in 31 states, generating millions of dollars in ill-gotten gains.

    To settle the SEC’s fraud charges, JPMS agreed to pay approximately $51.2 million that will be returned to the affected municipalities or conduit borrowers. JPMS and its affiliates also agreed to pay $177 million to settle parallel charges brought by other federal and state authorities.

    Read the release at:

    U.S. Securities and Exchange Commission Litigation Release No. 22031 / July 7, 2011 Securities

  5. Ever heard of “Hall Carbine” affair (its chalked up to ‘folklore’) where JP purchased defective armaments and sold them back to the US Govt as working pieces. Yeah, ain’t nothing new… if there’s a scam involved, they got it on lock! See here:

    http://www.scribd.com/doc/55272340/JPMorgan-s-907-Million-Dollar-Madoff-Bonanza

    & here:

    http://tawebster.wordpress.com/2011/04/27/florida-retirement-system-frs/

    No wonder, if it’s generating bonds you need JP just creates em’ out of thin air… not to mention the transfer of the asset is nowhere to be found. Hypothecated pools of nothingness.

    IRS – where ya’ at??

  6. Readdocs says:

    Who is going to be forced to pay the bill for the mold infestations in vacant homes?
    Well lookee here…now MERS has a new tool for state, county, and city governments
    can use to find who can be forced to pay for the maintenance on these vacant properties.
    That means the thousands of homes vacated with unfinished foreclosures by the banks
    who own them can force the evicted owners to pay thousands of dollars in maintenance
    on properties they no longer have possession of.

    • lvent says:

      The thing is the banks foreclosed illegally and threw the people out illegally. Most of these people were not even aware of the FORECLOSURE FRAUD or THE CLOUD ON TITLE.. In Chicago there are so many abandoned homes that the banks walked away from that the City can’t even find out who owns them and they ae bulldozing them. That is just wrong. If the bank walked away the property should be given back to the homeowner. If there is a cloud on title the home should also be given back to the homeowner. A cloud on title means fraud was committed in the homeowners name. The homeowners should sue the bank that fraudclosed illegally and the City for bulldozing their home that was left abandoned because of deceptive practices by the foreclosing entity….THE ONLY ANSWER IS MORATORIUM THE FRAUDCLOSURES BECA– USE FRAUDCLOSURES ARE ILLEGAL AND CRIMINAL.. UNLESS THE PRETENDER LENDER CAN SHOW CLEAR PROOF THAT NO ORIGINATION FRAUD HAS OCCURED, A/K/A CLEAR CHAIN OF TITLE, NAME INSERTED IN DEED OF TRUST AND THE ORIGINAL MORTGAGE AND NOTE , .THEY ARE STEALING HOMES THEY DO NOT OWN FOR UNSECURED DEBTS. THEY COMMITTED MASSIVE SECURITIES FRAUD IN THE NAME OF THE HOMEOWNERS. THEY ARE STEALING PEOPLES HOMES USING DECEPTIVE PRACTICES AND THAT IS ILLEGAL.

  7. Fury says:

    crooks. they are crooks. jamie dimon is one of the worst.
    imo

    when are the lawmen going to doing ANYTHING to punish these fraudsters???

    • lvent says:

      The picture is becoming crystal clear that there is a hidden entity here that is intentionally obstructing justice for the people, the victims of the BIGGEST PONZI SCHEME SWINDLE AND HEIST IN HISTORY.. . and protecting the WALL STREET CRIMINALS and their minions..WHO MIGHT THAT ENTITY BE????????That is what we need to find out. Who is hiding behind the scenes of this mortgage fraud PONZI SCHEME and obstructing justice??? ANY STATES ATTORNEYS OFFICES INVESTIGATING THE MORTGAGE FRAUD PONZI SCHEME? WHERE IS THE DOJ AND THE US STATES ATTORNEY? THEY DON’T KNOW ABOUT THE PONZI SCHEME????????? THE FBI CAN SHOW THEM WHAT THE CRIMINALS DID.

      • I vent…I think the DOJ is in some hot water right now. A ‘ big wig ‘ in the DOJ has blown his whistle …got his own attorney and went to ‘ someone ‘…and recorded what was going on at the DOJ….something to do with passing shipments of guns thru Mexico. Sounds like another Contra deal. We never heard from the DOJ….and we know why….and don’t expect to hear from them….same with US State Attorney….I imagine if the people started to gather…they would come out of the cracks like roaches….YES…you are onto something….it’s hidden…but not good enough…it’s a long story and I wish we lived near each other…..But I will say I found out why the ‘ investor ‘ is hidden behind the privacy act….I should say the investor/lender. I spent hundreds of hours looking for my daughters ‘investor’….hired another attorney..lost money on the first ding-bat…but I was messing around on the computer one night and a link caught my eye….BINGO…it told me a whole lot of things…I even cross reference the info…..BINGO.

    • FURY…WHAT LAWMEN???? DO WE HAVE ANY??? This whole foreclosure scheme goes alot deeper than what most people even imagine……But what you learned in school and later on…and the media never spoke of it….and the government worked behind closed doors….we just never knew we were considered slaves and the enemy to our corporate states…and corporate government…google this…I don’t think you even know the whole reason why this is all happening…..just keep digging on search….

  8. lvent says:

    BLOOMBERG REPORTING, CHASE CEO JAMIE DIMON SAYS RAISING US DEBT CEILING IS IMPERITIVE. WOULD JAMIE DIMON LIKE TO PAY THE BILL HE HELPED TO CREATE??????????HE WANTS THE AMERICAN PEOPLE TO PAY THAT FRAUDULENTY INDUCED DEBT CEILING BILL. THE BANKS CAN’T MAKE MONEY WITHOUT RAISING THE DEBT CEILING. IF THE U.S. DEFAULTS, AND GETS DOWNGRADED BY THEIR MINIONS, THE PONZI SCHEMERS ON WALL STREET CAN’T GET CHEAP MONEY TO MAKE MONEY OFF OF WHICH IN TURN MAKES THEM FILTHY RICH AND CREATES MORE DEBT FOR YOU AND ME

    • I vent….JP Morgan Chase is working with the Pentagon in Afganistan on the gold in the mountains….some guy spoke ( sounded like he was very careful on choice of words) and said Chase is involved for the people of the that country…Poor people…this will give them jobs and homes and to build the country up…..that is a crock….JP Morgan Chase is there for the gold….who the hell are they fooling….. they are nothing but crooks from way back….now the poor people will be slaves and do the hard work for pennies and Chase will get the gold. Plus lend them money to build roads and buildings using air money….and when they can’t pay the interest…they will get more air money and more debt…and more gold for Chase. All with no real money invested. I prefer to call him the DEMON…

  9. lvent says:

    BLOOMBERG REPORTED LAST WEEK TRILLIONS OF DOLLARS IN MORTGAGE PAYMENTS GO TO THE FEDERAL RESERVE WHICH THEY — USE TO BUY TREASURIES……………..WHO DO THEY THINK THEY ARE FOOLING ABOUT THAT NATIONAL DEBT?????????The NATIONAL DEBT is DEBT ENSLAVEMENT THESE CROOKS CREATED OUT OF THIN AIR………THEY WANT TO ENSLAVE THE AMERICAN PEOPLE BY RAISING THE DEBT CEILING. MAKE THE FEDERAL RESERVE AND THE REST OF THE PONZI SCHEME CRIMINALS PAY THAT DEBT. THE NATIONAL DEBT IS NATIONAL FRAUD. THE NATIONAL DEBT IS AN OUT OF CONTROL PONZI SCHEME THAT THE FOREIGN MULTINATIONAL PONZI SCHEMERS WANT TO IMPOVERISH THE AMERICAN PEOPLE WITH.

  10. lvent says:

    CNBC REPORTED WALL STREET MADE 60 TRILLION DOLLARS IN MORTGAGE DERIVATIVES ALONE IN 1999. SEND WALL STREET THE BILL FOR THE DEBT CEILING, THE PONZI SCHEME AND ALL OF THEIR FRAUD. THEY HAVE THE MONEY HIDDEN IN OVERSEAS BANKSTER ACCOUNTS. THE U.S. GOVERNMENT SHOULD SEIZE OUR STOLEN MONEY……… THE AMERICAN PEOPLE ARE SICK AND TIRED OF PAYING FOR THE WALL STREET PONZI SCHEMERS FRAUD AND OUR OWN ROBBERY.

    • Please – find and post here the link that you report about “CNBC reported Wall street made 60 trillion dollars in mortgage dirivatives alone in 1999.”?

    • lvent says:

      TRILLIONS OF DOLLARS IN FRAUD!!!!! HOT DAMN!!! I KNEW IT!!!!!! I WILL KEEP DIGGING!. IF YOU ARE IN THE RIGHT PLACE AT THE RIGHT TIME YOU CAN CATCH SOME IMPORTANT INFORMATION EVEN IN THE MAINSTREAM MEDIA. THEY ARE LEAKING!!!

      • lvent says:

        I will keep looking for that CNBC Wall Street made 60 trillion in mortgage derivatives in 1999. but they may have scrubbed it. I think they reported it around last October, around the same time they reported that Wall Street was gambling on the end of the world and they reported forget the jobs numbers, they are stealing your wealth. Bloomberg reported about the Fed getting trillions of dollars in mortgage payments which they use to buy securities with last Thurs. or Friday on their show. I can’t find it at their website and you usually always can. Max Keiser interviewed somebody a couple of months or so ago and his guest said that the U.S. GOVERNMENT is involved in a PONZI SCHEME WITH TREASURIES.

      • lvent says:

        IT IS TRUE, AMERICA IS NOT BROKE. Jesse Ventura said America is one of the richest countries in the world in his Conpiracy Theories episode entitled Wall Street.

      • lvent says:

        Found an interesting bit of info about JFK@political velcraft.org, the first link. Seems J.F.K. already had signed 11110 Treasury Print for the UNITED STATES NOTE. That NOTE would be backed by silver. In a commencement speech he made to Columbia University class on November 12,1963, ten days before his assassination. President John F. Kennedy said:

        “The high office of the President has been used to foment a plot to destroy the American’s freedom and before I leave office, I must inform the citizens of this plight.”

        I also read at Newsmax that November 12, 1963 J.F.K requested the UFO files from the CIA. He felt it was a matter of national security that he have access to those files. He said Russia could mistake a UFO for the U.S Government. According to the report the CIA using JFK’s codename Lancer, said Lancer can’t be allowed to have that info. J.FK. was fighting the same tyranny as we all are and both of these events occurred on the day I was born. .

      • lvent says:

        I was watching President Obama’s speech this morning on raising the debt ceiling and I found his reasons to raise it a bit ridiculous. He used the analogy that if we as individuals had a credit card and we were reaching the limit we would keep paying it down. That is nonsense. We would not want to get our limit raised and take on more debt if we were at peak credit and were struggling to pay the debt as it was. THAT IS IMBACILE.The Government needs to stop spending and using so much credit..They issue S.S checks and veterans checks backed by credit and not money? Doesn’t anyone see that as a bad thing? What If business owners paid their employees with their credit card instead of the money in their bank account? They would soon be in trouble if they had a few bad months.

        Why are we using so much FOREIGN credit? AMERICA IS NOT BROKE. Why do we owe China a trillion dollars when practically everything we buy is made in China? WE ARE LETTING THEM GET AWAY WITH MURDER AND WHY? BECA– USE THE FOREIGN TYRANNY KNOWS A COUNTRY IN DEBT IS NOT FREE. DEBT IS SLAVERY. If we charged China a tariff on all goods they import we would not owe them for long. Donald Trump has spoken about this very issue. Why is our President making this country look bad like we are broke? Why are we allowing foreign countries to ring us up with debt instead of just paying our damned bills and quit borrowing from the tyranny that rang America up and robbed us and is holding this country hostage with a giant 14 trillion dollar credit card bill that they created.The greatest lie ever told is AMERICA is broke. This Government needs to stop ringing AMERICA up and live within its means. We all have to and the foreigners are laughing all the way to the bank. Imagine the interest alone on all of that debt? Send WALL STREET the bill for ringing us up in the Ponzi Scheme and make the top 2% and their minions, the mutinational corps who pay no tax pay the debt they created out of thin air and tell the U.S. GOVERNMENT to quit ringing up AMERICA WITH DEBT. That debt is unsustainable because it was born of a PONZI SCHEME. Time for a UNITED STATES NOTE backed by silver like what J.F.K wanted. NO MORE FEDERAL RESERVE DEBT. Time TO AUDIT FORT KNOXX and back a UNITED STATES NOTE as a currency of value, not debt.. .

      • lvent says:

        Another interesting factoid regarding J.FK. signing 11110 Treasury print which enacted the UNITED STATES NOTE BACKED BY SILVER. BARRACK OBAMA fundamentally altered our Constitutional Rights by signing EXECUTIVE ORDER 12425 ON 1-11-10. Coincidence? Everyone should google that Executive order signed by Obama as well as UNITED STATES NOTE 11110 Treasury print signed by JFK. My local news reported this morning that COMCAST my local internet provider kicked a guy off of their service for downloading to much information off of the internet. He is apparently barred from usage for a year. WTF???

      • lvent says:

        I would like to add a bit of startling news to that factoid about BARACK OBAMA signing EXECUTIVE ORDER 12425. My local news just reported that Chicago is hosting the G-8 SUMMIT NEXT SPRING AND THE CHICAGO POLICE ARE GOING TO BE USING_ NATO SECURITY FORCES _ALONG WITH CHICAGO POLICE SECURITY. SAY WHAT?????? GET OUT OF HERE, THEY HAVE GOT TO BE KIDDING RIGHT? NOPE, THEY ARE NOT FREAKING KIDDING. THERE ARE 1300 OFFICERS BEING TRAINED AS THEY ARE EXPECTING MASS PROTESTS. WOW, SOUNDS LIKE THE 1968 DEMOCRATIC CONVENTION PROTESTS ON STEROIDS. GEE WHIZ, THANX OBAMA. NOW I KNOW FOR SURE, YOU ARE A TRAITOR SENDING NATO TO CHICAGO TO FIGHT LIBERTY. HOMELAND SECURITY WILL PROBABLY WAITING IN THE WINGS WITH LASER GUNS AND FEMA COFFINS..

  11. lvent says:

    THROW THAT ARROGANT FRAUDSTER CROOK CEO JAMIE DIMON IN PRISON FOR COMMITTING MASSIVE SECURITIES FRAUD AND STEALING HOMES FROM THE AMERICAN PEOPLE THAT CHASE KNEW FULL WELL THEY DID NOT OWN!!!!!!!!!!!!!!!!!!!!!!!

  12. lvent says:

    CHASE IS JUST ONE OF THE PONZI SCHEMERS THAT COMMITTED MASSIVE SECURITIES FRAUD IN THE NAMES OF AMERICAN HOMEOWNERS. THEY ALSO AIDED AND ABETTED IN THE COVER-UP BY STEALING HOMES THEY DID NOT OWN FOR UNSECURED DEBTS THEY WERE NOT OWED BECA– USE THEY DID NOT OWN THE LOANS…………….THEY WERE A DEBT COLLECTOR…………..WERE THEY FORCED TO PROVE THEY EVER LEGALLY OWNED THE LOANS OF THE HOMES THEY STOLE???????????????STOP GOVERNMENT AND THE MEDIA MUST STOP THE COVER UP AND FORCE THEM TO RESCIND THE FRAUDULENT, UNSECURED LOANS…………….!!!!!!!!!!!!!!!!!GIVE BACK THE STOLEN HOMES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! MAKE THE PONZI SCHEMERS PAY RESTITUTION FOR THEIR CRIMES TO MILLIONS OF DEFRAUDED HOMEOWNERS AND COMMERCIAL PROPERTY SMALL BUSINESS OWNERS.!!!!!!!!!!!!!!!!!!!!!!!!!!THE U.S. GOVERNMENT MUST MAKE THESE FOREIGN OWNED AND OPERATED MULTINATIONALS GIVE BACK THE AMERICAN PEOPLE THEIR STOLEN PROPERTY!!!!!!!!!!!!!!THIS IS AN UNCONSTITUTIONAL AND ILLEGAL ROBBERY OF OUR PROPERTY AND THE U.S. GOVERNMENT IS ALLOWING A 20 TRILLION DOLLAR LANDGRAB OF AMERICA OF OUR PROPERTY THAT THEY DO NOT OWN.!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • lvent says:

      THIS IS FASCIST TYRANNY!!!!!!!!!!!!!!THIS IS UNCONSTITUTIONAL AND ILLEGAL WHAT THE U.S. GOVERNMENT IS ALLOWING THESE FOREIGNERS TO DO TO AMERICA!!!!!!!!!!!!!!!!!!!!!!!!

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