J.P. Morgan Nears SEC Settlement
JPM -2.99% J.P. Morgan Chase JPM -2.99%& Co. is close to a settlement with the Securities and Exchange Commission that would end one probe into how the company’s Bear Stearns Cos. unit packaged and sold home loans to investors, according to people familiar with the case.
A pact with the nation’s largest bank by assets would be the first tangible victory in a wide-ranging SEC investigation into Wall Street’s sale of mortgage-backed securities before the onset of the financial crisis. Since 2010, the SEC has issued more than 300 subpoenas or document requests related to the probe and collected more than 30 million pages of documents, enforcement chief Robert Khuzami said earlier this year.
J.P. Morgan’s payment isn’t expected to exceed the $550 million paid in 2010 by Goldman Sachs Group Inc. GS -3.56% to settle claims by the SEC that it misled investors in a collateralized debt obligation called Abacus 2007-AC1. In that deal, hedge-fund firm Paulson & Co. bet that underlying assets, some allegedly chosen by Paulson & Co. to be included in the CDO, would fall in value. Goldman didn’t admit or deny wrongdoing.
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Really I own my home that they stole out under me! And it’s been over two years homeless they put this old lady out to pasture destroying my life stressing me out frustrating tearing my family apart. Bad enough no they took every dam thing off my sons laptop I borrowed to use every pic of my first grandchild gone and not yet two years old! How dare they destroy my world even more? They need to get justice served so I can move forward once again why can’t I go kick out those who bought the home my home after bank rep bought at fraud foreclosure I own exclusive grant deed! Plus have another deed paid in full Mers and both sub of trustees had no standings because they took off wrong names for time who were in title it was all a scam I’m getting very pissed off and no one contacts but as my Iphone was hacked into now today I don’t have service so who is screwing me now. My name is on property govt. section code … With who ever is Eric m Lara ? Paying what ever north????
Get it right it’s been long enough
They should pay AND do time..this is just wrong on all levels..to avoid jail time is wrong, just wrong.