Read this if you want to read about JP Morgan Chase CEO Jamie Dimon whine about how banks are being treated unfairly by Washington. Given the fact that large banks are raking it in due to a favorable financing position created for them by low interest rates (aka created by Washington), I have little sympathy.
Legal & regulatory | admin March 21, 2010 | 
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Thinking of trying to short-sell your property with a Chase mortgage, yea, don’t bother.
Bad bad Chase, Customer service, Ineptitude | admin March 20, 2010 | Comments (0)
As expected, WaMu shareholders have filed an objection to the Chase/FDIC settlement, basically because they get nothing from it. My concern is that the settlement helps sweep this whole event under the rug and the shenanigans that caused so much pain for WaMu customers and shareholders does not get fully investigated. If you have been affected by the WaMu seizure, I urge you to contact your representatives to ask them to support the investigation in to the WaMu seizure.
JP Morgan Chase is being sued by a Mexican businessman for $500 million after he claims Chase injected itself into his deal to sell his business for $400 million to try and wring some fees out of the deal. Interesting the kind of trouble Chase is getting itself into these days.
Bad bad Chase, Lawsuits | admin March 17, 2010 | Comments (0)
JP Morgan Chase has apparently drawn the ire of the AFL-CIO as evidenced by the recent mock trial the staged and found Chase CEO Jamie Dimon guilty of conspiracy to wreck the economy.
Here is some more information on the allegations made by a former Chase employee that Chase was practicing flat-out fraud when it packaged up a bunch of loans for sale with grossly incorrect information on the state of those loans. How poorly managed does a bank have to be to allow something like this to happen?
(The headline is from the movie Turk 182 if it doesn’t ring a bell.)
Lawsuits, Legal & regulatory | admin March 16, 2010 | Comments (0)
JP Morgan Chase may have recently reported that its credit card losses were improving, but it appears that their buy-backs of bogus mortgages is increasing at a rate that will far offset the credit card improvements.
