Tuesday, February 04, 2014


This is nowhere near as good as giving these miscreants 20-to-Life but at least it's something...
Morgan Stanley to pay $1.25 billion to resolve mortgage lawsuit

Tue Feb 4, 2014 5:25pm EST
(Reuters) - Morgan Stanley (MS.N) said it would pay $1.25 billion to the U.S. regulator for Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) to settle a lawsuit related to the sale of mortgage-backed securities.

UPDATE 1-JPMorgan to pay $614 mln to settle mortgage fraud case -U.S.
Tue Feb 4, 2014 7:28pm EST
Feb 4 (Reuters) - JPMorgan Chase & Co has agreed to pay $614 million to the U.S. government to settle claims it defrauded federal agencies by underwriting sub-standard mortgage loans, the U.S. Justice Department said on Tuesday.

JPMorgan, the largest U.S. bank by assets, is admitting in the settlement that for more than a decade it approved thousands of loans that were not eligible for insurance by the Federal Housing Administration or the Department of Veterans Affairs, the department said in a statement.

Last year, the company agreed to about $20 billion in settlements in its drive to clear up legal claims. The deals covered claims over other mortgage issues, as well as derivatives and power trading.

On Monday, the company agreed to pay $1.45 million to settle four-year-old allegations brought by the U.S. Equal Employment Opportunity Commission that the bank had maintained a sexually hostile environment for women in a mortgage loan center on Ohio.


Ken Hoop said...


Whitney says the system is still insolvent.

Steve J. said...

Whitney says the system is still insolvent.

I don't know about that but it's still threatened by the banksters.