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Best Web OpEds    H3'ed 10/6/17

How America's Biggest Bank Paid Its Mortgage Crisis Fine With Phony Mortgages!

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Fraud Key | Fraud on Keyboard Please feel free to use this i. | Flickr1024 ├-- 648 - 136k - jpg
Fraud Key | Fraud on Keyboard Please feel free to use this i. | Flickr1024 ├-- 648 - 136k - jpg
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'JPMorgan, it appears, was running an elaborate shell game. In the depths of the financial collapse, the bank had unloaded tens of thousands of toxic loans when they were worth next to nothing. Then, when it needed to provide customer relief under the settlements, the bank had paperwork created asserting that it still owned the properties. In the process, homeowners were exploited, investors were defrauded and communities were left to battle the blight caused by abandoned properties. JPMorgan, however, came out hundreds of millions of dollars ahead, thanks to using other people’s money.The alleged fraud is described in internal JPMorgan documents, public records, testimony from homeowners and investors burned in the scam,now being heard in US District Court in NYC.' 

Read the rest of the story HERE:

At billmoyers.com

 

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Susan Lee Schwartz Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram Page

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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