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#130262 - 06/05/15 03:35 AM JP Morgan and Barclays fraud and housing bust  
Joined: Jan 2006
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Sini Offline
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Analysis

Quote:
While looking for inconsistencies in appraisal values and owner-occupancy status, the most interesting part of the investigation exposes how some mortgage securities were riddled with undisclosed second liens. Barclays and J.P. Morgan not only had the highest levels of misreported second liens, but also the highest aggregated misreporting across all categories analyzed, according to Griffin and Maturana’s research. Of the 18 largest players in the securitized market, the highest misreporting was Barclays at 41.5% and J.P. Morgan at 41%, the research finds.


Sadly, nobody is doing time in the PMITA penitentiary over this.


#130306 - 06/05/15 06:04 PM Re: JP Morgan and Barclays fraud and housing bust [Re: Sini]  
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Derid Offline
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****

Joined: Nov 2005
Posts: 4,422
Its too easy to make quotas by busting poor people for non-crimes and threatening them with insane mandatory sentences -should they fail their jury trial- into plea bargaining a guilty, to bother going after people with political clout.


For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)
#130321 - 06/05/15 09:48 PM Re: JP Morgan and Barclays fraud and housing bust [Re: Sini]  
Joined: Jan 2006
Posts: 4,778
Sini Offline
KGB Supreme Court Justice
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Posts: 4,778
I 100% agree with you. The lack of funding for public defenders breaks judicial system.



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