Barney Frank Cries Foul in Government’s Lawsuit Against JPMorgan

Barney Frank cries foul in government’s lawsuit against JPMorgan

(Reuters) – Democratic Congressman Barney Frank defended the nation’s largest bank on Monday, saying in a statement that the government was wrong to go after JPMorgan Chase & Co for the alleged misdeeds of Bear Stearns.

Frank, the co-author of the 2010 Dodd-Frank financial reform law, said federal and state officials should reconsider holding financial firms liable for the wrongdoing of institutions they absorbed at the government’s urging.

The unusual statement comes after New York Attorney General Eric Schneiderman sued JPMorgan, the nation’s largest bank by assets on October 1 over mortgage-backed securities packaged and sold by Bear Stearns.

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Comments
5 Responses to “Barney Frank Cries Foul in Government’s Lawsuit Against JPMorgan”
  1. Jal says:

    The following is gaining attention on a lot of blogs.

    http://removingtheshackles.blogspot.ca/2012/10/43-trillion-money-laundering-lawsuit.html#comment-form
    $43 Trillion Money Laundering Lawsuit

    federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML)

  2. LVlawman says:

    This is a link to a Huffington Post Blog on why Jamie and Chase shouldn’t get a pass questioning what Barney Frank’s (usually a hero) motives are:

    http://www.huffingtonpost.com/mike-lux/dimon-whining_b_2009082.html?utm_hp_ref=politics

    Good read

  3. bobbi swann says:

    I agree….Frank was instrumental in ushering the Wall Street bailout through Congress in 2008. And he, along with former Sen. Chris Dodd, have their names attached to a sweeping Wall Street reform bill passed through Congress and signed into law by President Obama in 2010.

    Here he is calling foul when he was one of those pushing to bail them out! Soooooo glad this creep is retired!

  4. Fed Up says:

    Barney Frank Shut the FK Up you enabler and facilitator !!!!!

    • BRH says:

      Barney F, everyone knows all about the bullshit that comes out of his mouth, but they should know about the real nasty shit he puts in his mouth

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