NY AG sues JPMorgan over Bear Stearns securities NEW YORK (AP) — The New York attorney general's office has hit JPMorgan Chase & Co. with a civil lawsuit, alleging that investment bank Bear Stearns — prior to its collapse and subsequent sale to JPMorgan in 2008 — perpetrated massive fraud in deals involving billions in residential mortgage-backed securities. Many of them defaulted on their loans when the housing bubble burst and their introductory "teaser" interest rates skyrocketed. Because many of those mortgages had been sliced and repackaged as securities that could be bought and sold — known as RMBS — the mass defaults led to huge losses at large U.S.
Ny Ag Sues Jpmorgan Over Bear Stearns Securities
Business Heds Index, Seattle Post-Intelligencer: Business
Mon, 10/01/2012 - 7:28pm
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more