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Response to Indi Guy (Original post)

Mon Oct 1, 2012, 08:18 PM

4. Rest of story...

...The allegations relate to billions of dollars of subprime securities issued by Bear Stearns Cos. before the troubled firm, now owned by J.P.Morgan, collapsed in 2008. The suit alleges that losses on residential-mortgage securities issued by Bear Stearns in 2006 and 2007 alone were "astounding," totaling $22.5 billion, or more than a quarter of the original principal balance. The action asks that the company be made to pay an undisclosed amount of damages "caused, directly or indirectly, by the fraudulent and deceptive acts."

J.P. Morgan spokesman Joseph Evangelisti said the bank intends to contest the allegations, and that it is "disappointed" the attorney general "decided to pursue its civil action without ever offering us an opportunity to rebut the claims."

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Indi Guy Oct 2012 OP
truthisfreedom Oct 2012 #1
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Indi Guy Oct 2012 #4
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