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bigtree

(85,996 posts) Mon Oct 1, 2012, 06:20 PM Oct 2012

BREAKING: NY AG sues JPMorgan Chase over mortgage-backed securities

CNBC ‏@CNBC

BREAKING: NY AG sues JPMorgan Chase over mortgage-backed securities; case first of series expected against banks by WH task force - WSJ

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BREAKING: NY AG sues JPMorgan Chase over mortgage-backed securities (Original Post) bigtree Oct 2012 OP

Is this Schneiderman? He's been kickin' ass and takin' names lately. Laurian Oct 2012 #1

This is for Bear Stearns RMBS. JP Morgan bought Bear at the request of the Fed and Treasury. dkf Oct 2012 #2

delicious irony, tho bigtree Oct 2012 #3

It's a cautionary tale the next time the Government wants an assist. dkf Oct 2012 #4

Laurian

(2,593 posts)

1. Is this Schneiderman? He's been kickin' ass and takin' names lately.

Reply to bigtree (Original post)

Mon Oct 1, 2012, 06:24 PM

Oct 2012

dkf

(37,305 posts)

2. This is for Bear Stearns RMBS. JP Morgan bought Bear at the request of the Fed and Treasury.

Reply to bigtree (Original post)

Mon Oct 1, 2012, 06:25 PM

Oct 2012

Ironic.

bigtree

(85,996 posts)

3. delicious irony, tho

Reply to dkf (Reply #2)

Mon Oct 1, 2012, 06:27 PM

Oct 2012

dkf

(37,305 posts)

4. It's a cautionary tale the next time the Government wants an assist.

Reply to bigtree (Reply #3)

Mon Oct 1, 2012, 06:33 PM

Oct 2012

In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere $2 a share to buy all of Bear — less than one-tenth the firm’s market price on Friday.

The deal for Bear, done at the behest of the Fed and the Treasury Department, punctuates the stunning downfall of one of Wall Street’s biggest and most storied firms. Bear had weathered the vagaries of the markets for 85 years, surviving the Depression and a dozen recessions only to meet its end in the rapidly unfolding credit crisis now afflicting the American economy.

http://www.nytimes.com/2008/03/17/business/17bear.html?pagewanted=all

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