This page has been archived and commenting is disabled.

JPM Fraudclosure Whistleblower Emerges

Tyler Durden's picture





 

The one main thing missing from the recent escalation in charges against the major banks in regard to the fraudclosure scandal has been an internal whistleblower who can corroborate that all the charges against the various illicit mortgage practices. After all, it is one thing to lay allegations, and totally different for a court of law to find that these are validated. So far it is precisely the latter that has been missing as no court is willing to escalate an issue that could potentially unwind decades of mortgage securitization. Yet all that may be about to change. Daily Finance's Abigail Field presents the case of one Linda Almonte, a former employee of JPM, who is not only suing the bank for wrongful termination, but has now also filed a whistleblower complaint with the SEC. Filed says: "The core allegations add context to her lawsuit, and they charge Chase
with grotesque and illegal practices involving its credit card debt
processes, including robo-signing." Sure enough, JP Morgan is denying everything. Yet a close look at the details presented by Almonte indicates that either she is blatantly lying, or JPM may be in water just as hot as Bank of America.

Per the formerly confidential statement, Almonte's 5 main allegations regarding JP Morgan are as follows:

1. Chase Bank sold to third party debt buyers hundreds of millions of
dollars worth of credit card accounts. . .when in fact Chase Bank
executives knew that many of those accounts had incorrect and overstated balances.

3. Chase Bank executives routinely destroyed
information and communications from consumers rather than incorporate
that information into the consumer's credit card file, including
bankruptcy notices, powers of attorney, notice of cancellation of
auto-pay, proof of payments and letters from debt settlement companies.

4. Chase Bank executives mass-executed thousands of
affidavits in support of Chase Banks collection efforts and those Chase
Bank executives did not have personal knowledge of the facts set forth
in the affidavits.

5. When senior Chase Bank executives were made aware of these systemic
problems, senior Chase Bank executives -- rather than remedy the
problems -- immediately fired the whistleblower and attempted to cover up these problems.

#000000; text-decoration: none; border: medium none; text-align: left; overflow: hidden; background-color: transparent;">Almonte's lawyer, George Pressly operates the http://www.secwhistleblowerprogram.org/ website, which is how she reached him. It is reasonable to expect that now that the first whistleblower has emerged from the crowd, many other former employees will soon follow, making the legal headache for JPM's general counsel only comparable to the fees about to be charged by the firm's outside counsel. Furthermore, should this case come to court, it will become a public spectacle that will likely make JPMorgan be perceived in the same utterly fraudulent light in which Brian Moynihan's bank is currently basking: the preliminary evidence, if proven to exist, is very damning:
#000000; text-decoration: none; border: medium none; text-align: left; overflow: hidden; background-color: transparent;">To support her claims, Almonte says she has "a large volume of documents in her possession available for review by the SEC" and offers her first-hand observations as well.

Those direct observations allegedly include witnessing the head of Chase's pre-litigation group "shred" material communications from borrowers, such as "bankruptcy notices, settlement communications, and debt settlement company communications" rather than entering the information into Chase's database. She also claims that senior Chase Bank executives instructed Chase Bank employees remove important information and data from Litigation Accounts because the retention of the information would have resulted in increased computer hardware costs. Both types of record destruction rendered the accounts inaccurate, she says.

Concerning robo-signing, Pressly wrote:

"On numerous occasions, Ms. Almonte witnessed these Affidavit Signers work through at times 3-feet tall stacks of Judgment Affidavits at once during weekly multi-hour long, non-related company meetings. The notaries were not present at these meetings. The Affidavit Signers simply relied on hourly workers to reconcile amounts owed and then treated the actual execution of the affidavits as busy work to be performed while the Affidavit Signers could focus on other matters."

According to Almonte, determining the amounts owed wasn't easy: Chase had a number of "legacy" databases from its various acquisitions that were not well integrated. So, perhaps the executives should have looked more closely at the documents. "Indeed, Ms. Almonte determined that as many as 20% of the Judgment Accounts to be sold failed an internal test to check for accuracy."

As for the background on Almonte, here is what field dug up on the former employer:

During her time at Chase, Almonte was a "mid-level executive" who "supervised employees across the litigation and post-judgment functions" of the credit card litigation department.

In March, she sued the bank, claiming that she was fired for refusing to participate in the sale of 23,000 credit card accounts Chase had packaged for sale. Almonte says 5,000 of the accounts listed the wrong amount owed, and thousands more had other problems. By going forward with the sale after being informed of the problems, Almonte says, Chase was breaking the law.

Almonte's whistleblower complaint provides big-picture context for the sale she refused to participate in, providing background on how so many credit card accounts could contain flawed data.

To be sure, there may be some prior animosity which has only bubbled to the surface due to the termination, which may serve to diluate Almonte's claims somewhat, which may be perceived as retaliation. What will be far more useful is finding a whistleblower who is still in good standing and employed by either JPM or any of the other large mortgage lenders. We are confident that following this important example, many more far more credible cases will soon emerge. The result will be another major push against the auditors and FASB in general, to make even legally mandated price discovery irrelevant when it comes to the trillions of "assets" held on the bank books. Either that, or a prompt settlement with the various AGs who are currently investigating the bank and its peers, so as to remove any future legal standing of new claims to the bank's mortgage practices.

Full Almonte whistleblower complaint:

 

h/t Deadhead

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 12/19/2010 - 21:59 | Link to Comment bobboberson
bobboberson's picture

Can't wait for these fuckers to crash and burn!

Sun, 12/19/2010 - 22:33 | Link to Comment Cleanclog
Cleanclog's picture

They should . . . but it'll probably be just another "fine" as wrist-slap and wink-wink carry on.  We're in a real pickle in this country when the elected officials, the regulators, and the courthouses are under the extremely powerful influence (some say payroll) of the financial and corporate elite.

Sun, 12/19/2010 - 22:41 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Officials, regulators, and courthouses are part of the Oligarchy?  You damn straight, PsychoNews has been saying that since inception.

The Media is completely bought and paid for by corporate interests, as are the regulators.  The bankers are the lynch pin though, and that is why it is so important to combat Zimbabwe Ben, the Fed and its money out of nothing.

http://psychonews.site90.net

PsychoNews: Exposing the Oligarchy, one Psycho at a time.

Mon, 12/20/2010 - 01:23 | Link to Comment Popo
Popo's picture

PsychoNews: Attempting to hijack yet another thread.

Please give it a rest.

Mon, 12/20/2010 - 01:47 | Link to Comment Slash
Slash's picture

http://www.businessinsider.com/jessica-fashano-suicide-2010-12

 

looks like a citi banker had a sudden acute case of suicide.

Mon, 12/20/2010 - 06:21 | Link to Comment bobboberson
bobboberson's picture

Probably saw something she wasn't supposed to.

Or...

"Fashano, an associate at Citi Global Markets, was according to reports active in philanthropy."

Or maybe she just discovered that her employer is single handedly responsible for a expressible percentage of the entire world's misery...

Mon, 12/20/2010 - 06:29 | Link to Comment VeloSpade
VeloSpade's picture

Fashano's death is quite shocking, but I doubt it was work related.  Circumstances seem to suggest her death preceded a relationship problem.

Tue, 12/21/2010 - 10:29 | Link to Comment benburnyanki
benburnyanki's picture

As usual just another vagina only concerned with what goes in it and what shoots out of it.

Yes women have a gun too like a black powder rifle you must jab with ram rod and bang stick in 9 months.

The Jewish/Russian Mafia has taken over the USA. All Bush's cabinet was Jewish. Hollywood is Jewish Mafia controlled. Banks are Jewish Mafia controlled. Universities back East are Jewish Mafia controlled. FBI, CIA, NSA, DEA, DHS, EPA, FDA, FCC, and Treasury are all Jew Mafia controlled.

Mayer Lansky Jew Mob Boss ran america, not the Sicialian Mafia folks.

We are so f**ked its not funny and all the crazy bitches that had babies in a world run by the Mafia are Mafia Dona Pigs who only care about what goes in and what comes out of their little fat asses.

Having babies around Mafia like smokin' cigarettes in gunpowder factory!

Men need to grab some tools and reapeat after me. This is my rifle, this is my gun. This ones for Mafia and this ones for cunt.

Ben Burnyankee say: "We wacked Jesus & JFK for Bank Bustin' and walked, and have a 40 foot container of Gringo Bar-B-Q sauce"

Read Best Bank Book "None Dare Call It Conspiracy":

www.filefactory.com/file/b422gc9/n/ndcic.pdf

Mon, 12/20/2010 - 02:04 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

If I am being accused of adding to the discussion, I stand guilty.

Sun, 12/19/2010 - 22:58 | Link to Comment caconhma
caconhma's picture

Since Goldman and JPM own the country, Fraudclosure business is going to nowhere. The Congress will fix it to the Wall-Street liking.

In any case, anyone must pay for the real estate holdings. Rent-free MacMansion living does not make any sense. The sooner foreclosures will be over the better for everybody (except for parasites).

Mon, 12/20/2010 - 01:08 | Link to Comment trav7777
trav7777's picture

if you are a hack at the SEC, your wet dream is to go to work for a major bank.  Here's a chance for quid pro quo...

Mon, 12/20/2010 - 01:32 | Link to Comment GoinFawr
GoinFawr's picture

s'quid pro quo?

Sun, 12/19/2010 - 23:03 | Link to Comment StychoKiller
StychoKiller's picture

Does Wikileakz have this info?  Is JPM their next target?

Mon, 12/20/2010 - 00:23 | Link to Comment Lionhead
Lionhead's picture

Hell hath no fury as a woman scorned...

Mon, 12/20/2010 - 08:17 | Link to Comment boooyaaaah
boooyaaaah's picture

Speaking of BAC, JPM

They have stopped the accounts of Assange the wikileaks founder
Has this man been found guilty?
Has he had due process?

Wadif it happened to you?

Your credit gone
Your bank accounts frozen

Are they the judge jury and sherrif

Are they the new royalty?

Should we not be greatful their decisive action?

Where is the DOJ protecting Assang's rights?

Where is the outcry from ZH

Every thing is fine until the crocidile begins to eye you

 

Sun, 12/19/2010 - 22:01 | Link to Comment DavidPierre
DavidPierre's picture

She would best stay out of hot-tubs...airplanes...autos!

... lose her cellphone and blackberry...

Move to new address every few days.

Not have a leather leash to walk her dog!

Did I miss anything?

 

 

Sun, 12/19/2010 - 22:05 | Link to Comment RobD
RobD's picture

Stay out of Fort Marcy Park?

Sun, 12/19/2010 - 22:06 | Link to Comment tbd108
tbd108's picture

Don't go swimming in the sea like the guy who ratted out BP.

Sun, 12/19/2010 - 22:11 | Link to Comment RobD
RobD's picture

Never a good idea to go anywhere where you are not the top of the food chain.

Sun, 12/19/2010 - 23:06 | Link to Comment benb
benb's picture

Well, if Linda Almonte is looking for work I hear David Rockefeller has an opening at his personal bank.

http://online.wsj.com/article/SB125297114071610275.html

Mon, 12/20/2010 - 01:34 | Link to Comment GoinFawr
GoinFawr's picture

Indeud RobD.

Connor MacLeod,

" I don't like boats, I don't like water. I'm a man, not a fish! "

 

 

Sun, 12/19/2010 - 22:10 | Link to Comment breezer1
breezer1's picture

you forgot about walking ahead of people carrying umbrellas and eating lunch with old friends and contacts with access to nuclear material. oh yeah, may as well give up eating without a food taster in your entourage as well as a car starter and a look alike. 

i'm sure i forgot something. i better go back into hiding.

Sun, 12/19/2010 - 22:15 | Link to Comment ThisIsBob
ThisIsBob's picture

Don't be screwing any Swedish chicks.

Sun, 12/19/2010 - 22:05 | Link to Comment AGoldhamster
AGoldhamster's picture

And another reason for Gold bitches on their way to 1600 for the final showdown with that wicked witch Blythe

Sun, 12/19/2010 - 22:02 | Link to Comment living on the edge
living on the edge's picture

I certainly do not want an account at JPM. No major US bank either.

Sun, 12/19/2010 - 22:03 | Link to Comment breezer1
breezer1's picture

we have seen these cracks in the dam before. it may take a few more. keep an eye on FAZ for opportunity called the domino effect.

Sun, 12/19/2010 - 22:23 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Whoops. Another inconvenient truth that exposes the Ponzi partners. Looks like the RICO crew needs to hire Mr. Wolfe to clean up this ugly mess. On second thought, even Mr. Wolfe can't keep this under wraps.

http://en.wikipedia.org/wiki/Pulp_Fiction

http://www.imdb.com/title/tt0110912/

http://www.youtube.com/watch?v=ANPsHKpti48

Sun, 12/19/2010 - 22:53 | Link to Comment Calculated_Risk
Calculated_Risk's picture

So pretty please, with sugar on top. Clean the fucking docs!

Mon, 12/20/2010 - 02:53 | Link to Comment macholatte
Sun, 12/19/2010 - 23:08 | Link to Comment Yits and the Yimrum
Yits and the Yimrum's picture

nice, sign up for Chase Sapphire; just don't send them any unwanted documents as they get feed to a high speed shredder

hope Chase is paying for Zero Hedge today; its a crazy f--king world, but ones's soul can be easily medicated with a retail blitzkreig around the Holidays!

Merry christmas to you unrully Zedgers.

Sun, 12/19/2010 - 22:04 | Link to Comment velobabe
velobabe's picture

bless your heart, dear. i support you one hundred %.

courage, babe. your just listening to your soul and heart.

i think you have some angels. around you. believe. please†

 

Sun, 12/19/2010 - 22:08 | Link to Comment bankrupt JPM bu...
bankrupt JPM buy silver's picture

Who cares....just order another 5 trill from the ben bernank....too big too fail.  Case closed.  Buy silver.  Done.

Sun, 12/19/2010 - 22:07 | Link to Comment unum mountaineer
unum mountaineer's picture

its always the employees who felt wronged is it not?

 

Sun, 12/19/2010 - 22:13 | Link to Comment Cursive
Cursive's picture

I'm sure the attack machine will be in full force on Linda Almonte.  I was a whistleblower at the publicly traded utility where I used to work.  It was brutal, but I survived until I found another gig.  Neither the management nor the board of directors were interested in correcting any of the problems.  Perhaps I'm biased, but I'll give Ms. Almonte's claims preference over the denials of JPM.

Mon, 12/20/2010 - 01:25 | Link to Comment Kiwi Pete
Kiwi Pete's picture

Yes indeed. How long till the rape charges appear? I'm sure they can dig up some poor bloke she took advantage of . Maybe she forced him to have sex without wearing a condom? I'm sure that's illegal in some states. Then they can render her to Guantanimo till she confesses.

Sun, 12/19/2010 - 22:14 | Link to Comment GreenSideUp
GreenSideUp's picture

Best. Christmas. Present. Ever.

Thank you Ms. Almonte!  May you be the first in a long line of whistleblowers who take this evil monster down!

Sun, 12/19/2010 - 22:20 | Link to Comment treemagnet
treemagnet's picture

Say what you will, but you gotta hand it to the courageous souls who step up and tell it like it is.  I'm from the very upper northern plains where quite frankly, very few can appreciate the value of labor - its nice today - about -5 degrees F.  I'm no saint - but I work hard and own without debt.  I know many, most - of you are the same.  But, for a moment - I have to stop and think of the courage and moral conviction it would take to live/work/and endeavor in a large metropolitan environment, scared to shit that they're after you, they know who you are, what you know, and that you're a threat......and still hold your ground for your limit of bullshit.  Whoever they are, I really very truly, truly, salute them.  Think of what they risk - think of what is taken from them along the way.  Do you ever wonder is a place like ZH could serve as a clearing house of sorts for the extreme secrets known by you?........thing of the possibilities?!

Mon, 12/20/2010 - 11:25 | Link to Comment MachoMan
MachoMan's picture

Not to burst your altruistic bubble, but she only came forward after she was fired.  You talk about courageous souls, but all I see are shitbird opportunists.  If you want to take the moral high ground, don't give them your labor in the first place....  don't help them succeed.  This wasn't some bait and switch routine...  she was engaged in it like the rest and is jumping ship while there are life rafts available.

Let's call it like it is, she's likely a total piece of shit that, in the process of telling on her former employer, has interests similar to our own...  I'm not going to thank her for being a piece of shit, but I will appreciate the effort of others who utilize her information to attempt some semblance of justice.

Sun, 12/19/2010 - 22:24 | Link to Comment myshadow
myshadow's picture

"To be sure, there may be some prior animosity which has only bubbled to the surface due to the termination, which may serve to diluate Almonte's claims somewhat, which may be perceived as retaliation. What will be far more useful is finding a whistleblower who is still in good standing and employed by either JPM or any of the other large mortgage lenders..."

 

Waitaminute.  You don't think it would be SOP at anyone of these squidhouses to do just that.  As soon as someone starts 'to the right thing', they start fitting them with a disgruntled/incompetant/loose cannon, frame?

If she has documents and a linear paper trail she can be called every name in the phone book.  She has to worry that DOJ isn't in the tank.

So do we.

Mon, 12/20/2010 - 08:47 | Link to Comment Bitch Tits
Bitch Tits's picture

"As soon as someone starts 'to the right thing', they start fitting them with a disgruntled/incompetant/loose cannon, frame?"

 

You forgot the big one: "crazy". They're "crazy."

Sun, 12/19/2010 - 22:27 | Link to Comment buzzsaw99
buzzsaw99's picture

Destruction of documents, securities fraud, material misrepresentation. Just another day at the office for JPM Chase.

Mon, 12/20/2010 - 02:39 | Link to Comment Hansel
Hansel's picture

Yeah, I thought that was in the corporate charter. Does anyone expect a bank to earn money honestly? Where's the profit in that?

Sun, 12/19/2010 - 22:30 | Link to Comment blobbus
blobbus's picture

so what was the second allegation?

Mon, 12/20/2010 - 13:40 | Link to Comment downrodeo
downrodeo's picture

I saw that too, it was probably the most damning one of all...

Sun, 12/19/2010 - 22:31 | Link to Comment Worker Bee
Worker Bee's picture

Oh! maybe THISis the stake through the heart!?...not...all the evidence that's been amassed and this chick is gonna bring the whole ponzi down? Wake me when someone records a banker admitting the whole thing on tape or something..hell even then people dont give two shits so it would be ponzi as usual after about a news cycle in the lamestream media.

Sun, 12/19/2010 - 22:34 | Link to Comment buzzsaw99
buzzsaw99's picture

JPM could cut out the hearts of a million children per day and nothing would be done to stop them. They are more powerful than Stalin.

Sun, 12/19/2010 - 23:11 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Heck, that would probably earn them a Nobel @#$%^& Peace Prize.

Mon, 12/20/2010 - 00:09 | Link to Comment buzzsaw99
buzzsaw99's picture

word

Sun, 12/19/2010 - 23:52 | Link to Comment Temporalist
Temporalist's picture

Are you trying to start a vampire squid feeding frenzy in here?

Sun, 12/19/2010 - 22:37 | Link to Comment ThirdCoastSurfer
ThirdCoastSurfer's picture

A related situation regarding the banksters:

http://bankimplode.com/viewnews/2010-12-19_NewYorkJudgeTellsCitiToGetOve...

where corporate lawyers don't want to sign affidavits that will make them personally responsible for the accuracy!

Why isn't this a standard requirement across the country? Bravo NY!

 

Mon, 12/20/2010 - 11:19 | Link to Comment Fearless Rick
Fearless Rick's picture

Bravo, indeed. From the NY Post article on the case:

"This will certainly encourage lawyers not to move to foreclosure without affirmations," she [Anne Copps, chairman of the Real Property Law Section of the New York Bar] said. "It will take some time for lenders to review their files and pull together their affidavits so attorneys can do affirmations."

I am still waiting for the BofA lawyers to move my foreclosure forward, so I can sue the bank and the attorneys for filing a robo-signed assignment complete with three different dates, and a signature that I found four different copies of on the internet.

I'm sure the attorneys at Rosicki, Rosicki and Associates are just thrilled at this development, putting them on the hook for a potential countersuit, fraud, fines, disbarment, jail, torture, death.

Well, maybe not the last two, but I'd propose that the court jail the foreclosure mill lawyers and bankers together so maybe they'll kill one another.

Another thought, since JPM thinks shredding is a viable option: maybe they'll just shred all evidence of my mortgage and allow me to go the quiet title route. After nine months of waiting, I am tempted to file for dismissal, and file counterclaims, but I'd rather reach a settlement with the lawyers and the bank which would go something like, "Don't oppose my filing of quiet title and I won't sue for fraud on the original mortgage, won't go for recision under TILA and won't make motions for sanctions for fraud upon the court. Nothing to sign, just nod your heads."


Mon, 12/20/2010 - 11:36 | Link to Comment MachoMan
MachoMan's picture

Why agree to that?  The damn bank might not even have the right to foreclose...  Don't want any third party beneficiaries popping up their heads.  If the bank actually has the right to act on behalf of all potential persons/entities with an interest to your note/mortgage, then that's one thing...  but to presume that would be...  against the entire premise of the exercise.

Practically speaking though, it might buy enough time to get the quiet title in...  hopefully the warning orders are deemed sufficient to all the chain of title...

I would go for compensatory damages in the amount of the remaining balance of your note + your attorney's fees...  give it right back to them and get them to issue a release...  will be a whole lot quicker than quiet title...  and I'm not sure that quiet title would absolutely 100% eliminate all possible issues of title (it's conceptually supposed to, but...  well, you know how that goes). 

Talk with an accountant prior to agreeing to any of this stuff...  don't want to get nailed with the taxes...  might get a consent judgment. 

Sun, 12/19/2010 - 22:39 | Link to Comment breezer1
breezer1's picture

i lost my job at the time and one day a somebody with security creds got in the back seat of my taxi when i lived on the west coast and told me in so many words that i would have my day. he said that these things are never forgotten. there is a debt to be repaid etc etc. i figured there and then that all these assholes live in glass houses and they could be easily fucked over simply by being truthful. 

we all have larceny in our hearts but its best to acknowledge it and see the truth as the path to follow. this is the real fuel of courage. let it set us free. ZH rocks.

Mon, 12/20/2010 - 02:41 | Link to Comment let-them-eat-cake
let-them-eat-cake's picture

i figured there and then that all these assholes live in glass houses and they could be easily fucked over simply by being truthful.

Having my eyes opened around 2001 about the systemic fraud, war mongering and institutional cronyism and nothing happening about it - it was encouraged, I can finally say the tide really does look like it has begun to turn.

Secrets always come out in the end.

Sun, 12/19/2010 - 22:40 | Link to Comment f16hoser
f16hoser's picture

This should put a severe strain on JPM and Obama/Congress' friendship. We'll find out if the "Rule of Law" is truely dead in America. My guess, a 137 million dollar fine. Why, seems like any other insignificant fine levied by the SEC. Don't get your hopes up. I admire her courage. Hats off to Linda Almonte! She should hire body guards NOW!

 

Hoser

Sun, 12/19/2010 - 22:55 | Link to Comment Dr. Sandi
Dr. Sandi's picture

Don't get your hopes up. I admire her courage. Hats off to Linda Almonte! She should hire body guards NOW!

All true. But I fear that without a few dozen others stepping up, Ms. Almonte will be nothing more than an annoying zit on the ass of the zombie. Something to be picked off and stomped. And that will be that. We've all seen this drama played out so many times before.

Sun, 12/19/2010 - 23:35 | Link to Comment f16hoser
f16hoser's picture

You're probably right. Congress will pass some new laws that will allow JPM off the hook. Can't bite the hand that feeds ya right?

 

Hoser

Sun, 12/19/2010 - 22:48 | Link to Comment The End
The End's picture

If this escalates, along with the BAC issues, I will bet anything there will be some kind of terrorist attack.

Sun, 12/19/2010 - 22:50 | Link to Comment The End
The End's picture

"terrorist attack" ...

Sun, 12/19/2010 - 22:53 | Link to Comment umop episdn
umop episdn's picture

Goody goody gumdrops, another Christmas surprise! What could possibly be better than the unlimited bailout of Freddie and Fannie that they gave us for Christmas last year? 

Mon, 12/20/2010 - 02:49 | Link to Comment Hansel
Hansel's picture

The infinite bailout will go down in the record books.  None of us were alive, but I'd say the infinite bailout comes in second to Congress passing the Federal Reserve Act on Christmas eve eve in 1913, when 20% of congressmen didn't even vote.

Mon, 12/20/2010 - 07:28 | Link to Comment 1fortheroad
1fortheroad's picture

Wasn't it more like 80%?

Mon, 12/20/2010 - 10:05 | Link to Comment alibi
alibi's picture

if wikileaks holds to it's january plan to release banking docs then i would imagine we would more likely see a 'new years surprise'.

Sun, 12/19/2010 - 23:15 | Link to Comment Drag Racer
Drag Racer's picture

A senior JPM exec. was very upset to find out his 'facilitator' had misunderstood what flight Ms. Almonte would be arriving on...

 

In other news we find the real reason for why the spending bill was so easily dropped. If anyone was curious, S510 food bill was dumped into the spending bill. Now the spending bill is no longer needed as they will just forget about the 'technical issue' and pass S510. http://www.washingtonpost.com/wp-dyn/content/article/2010/12/19/AR201012...

this is just not right...

Mon, 12/20/2010 - 00:25 | Link to Comment Widowmaker
Widowmaker's picture

Terrorist-bonuses set another record this year.

...straight from the US Treasury.

 

 

Sun, 12/19/2010 - 22:50 | Link to Comment Misean
Misean's picture

I can't beleive she hasn't been Gitmo'd as a terr'rist.  Prolly happen this week.

Sun, 12/19/2010 - 22:57 | Link to Comment The End
The End's picture

lol - msm are in pre-production now, lights, camera action!

Sun, 12/19/2010 - 23:13 | Link to Comment gwar5
gwar5's picture

JPM has a full plate with the RICO suits for PM manipulations and now this.

If I miss filing my taxes I'd have one of the 16,000 new IRS agents with a shotgun coming to my house.

I guess that's because I'm the collateral for all of JPM dodgy operations and must be protected!

 

Sun, 12/19/2010 - 23:33 | Link to Comment Misean
Misean's picture

The IRS was established to ensure payments of the Empire's debts.

Sun, 12/19/2010 - 23:14 | Link to Comment Honest_Money
Honest_Money's picture

Take your money out of the TBTF banks and buy physical gold and silver!

Sun, 12/19/2010 - 23:16 | Link to Comment CashCowEquity
CashCowEquity's picture

90% of my $$ is in gold and silver

Just mad its not 100%

lol

Sun, 12/19/2010 - 23:17 | Link to Comment tla2001zero
tla2001zero's picture

I know that when my wife was in Iraq they managed to lose the power of attorney I had to manage her accounts multiple times.  The way they treated us during that time convinced us we will NEVER do business of any kind with JPM Chase again.

Sun, 12/19/2010 - 23:21 | Link to Comment CashCowEquity
CashCowEquity's picture

jerk my cock morgan

Sun, 12/19/2010 - 23:37 | Link to Comment gloomboomdoom
gloomboomdoom's picture

Just got back from my family's annual Christmas Party.

My family and friends had not forgotten what I had told them from the party in 2009.

"Total Economic Collapse Ahead". "Double-Dip Recession (Depression". "Fiat Currency Crisis". "Greece style Riots" as society starts to crumble.

They totally STUCK it to me. Breaking down into song and dance "Ben Bernanke is No.1". "Saved us from total Economic Collapse". "Obama saved us". etc etc etc.

I join them. DOOMERS are/were wrong. Time to drop your shorts. Get long and get hard.

Nothing is coming guys

Sun, 12/19/2010 - 23:43 | Link to Comment homersimpson
homersimpson's picture

You sound like a bad poker player - always confusing luck with skill.

Sun, 12/19/2010 - 23:49 | Link to Comment bobert
bobert's picture

I thought you were Ponzi @ first.

Why try to predict boom or doom?

Just stay nimble and play it either way and accumulate

either way (silver).

Mon, 12/20/2010 - 00:03 | Link to Comment gloomboomdoom
gloomboomdoom's picture

Gold and Silver are both giant bubbles ready to burst all over the place. (I just got out, rode the mother WAVE through 2010)

Thank God the congress ignored the DEAD WRONG doomer public. JAMMED HOME TARP to SAVE OUR BEHINDS from another Great Depression!

The American people were dead wrong!

Keep on screaming, no one is listening. (It is for the best, folks...)

The Great Obama approval reversal has begun and will continue right on out until he is re-elected in 2012.

Doomers lost. The laws of macro economics are being re-written before our very eyes, ears, noses and mouths.

U-3= 7.5% by 2012

2011 is shaping up to be a GREAT year for our republic. this will be a wonderful Christmas

Keep on smiling, guys :)

Mon, 12/20/2010 - 00:13 | Link to Comment Sophist Economicus
Sophist Economicus's picture

I agree!   As a matter of fact, I think there will be a coronation for the Great Obama this time around.   Time for the Obama King to get the throne he deserves

 

U3=7.5% ???   Are you nuts?  It should be below 3% by 2012.   Not to mention, GDP growth should be at least 6%.  Unless the Great and Magnificent Bernanke releases QE 3.0 - then GDP should grow by at least 8 to 9%.

 

GBD - you are far too pessimistic.   Time to see the facts as they truely are.

Mon, 12/20/2010 - 02:17 | Link to Comment RichardP
RichardP's picture

Can you say tongue-in-cheek?

Mon, 12/20/2010 - 01:01 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

Same here, gloomboomdoom.

DOOMERS must admit they were wrong. Nothing is coming.

I'm glad I'm an American, where I won't have to live an economic crisis. Thank God.

I think the economy has already pretty much restarted. Shorts are going to get squeezed.

Mon, 12/20/2010 - 01:30 | Link to Comment Popo
Popo's picture

So what happens to the lawsuits re losses in MBS?

Someone has to lose. Which side is it?

Mon, 12/20/2010 - 11:31 | Link to Comment Vagabond
Vagabond's picture

So I guess you believe that Ponzi schemes don't collapse?  Your nonsense is good for a laugh, and nothing else.  Yeah the economy is restarted!  All we needed to do was cut taxes, increase spending, monetize the debt, and give away more free FRN's to the unemployed.  If that isn't a recipe for success, I better get out of the kitchen!

Mon, 12/20/2010 - 01:11 | Link to Comment ViewfromUnderth...
ViewfromUndertheBridge's picture

You are a fool by blood.

Mon, 12/20/2010 - 01:44 | Link to Comment Calculated_Risk
Calculated_Risk's picture

Day of Reckoning is at hand.

http://www.cbsnews.com/video/watch/?id=7166293n&tag=contentMain;contentBody

 

Deep budget cuts are inevitable as Jan Brewer, Arizona Legislature struggle to erase shortfall

http://www.azcentral.com/news/election/azelections/articles/2010/12/19/2...

 

 

Sun, 12/19/2010 - 23:39 | Link to Comment Bartanist
Bartanist's picture

I find it interesting that lawyers always depend on the "she is hostile toward the company and therefore the information is unreliable defense". They never accuse the person of lying nor do they say that the information is untrue. All they do is attack the character of the witness.

And, oddly enough both juries and judges take this false logic and assume the information provided by the witness not only is possibly not true, but is definitely not true.

One wonders how a person of character can provide credible evidence against a company such as JPMorgan. Presumably they would have to be someone of impeccable character, such as Lloyd Blankfein, Ben Bernanke, Tim Geithner, Barney Frank, Mary Shapiro or any of the many club elitists.

Truth cannot matter when it is assumed by the courts that the only ones who can speak the truth are part of the club.

Mon, 12/20/2010 - 01:58 | Link to Comment DollarMenu
DollarMenu's picture

I am surprised that there is not already a counter suit charging

Ms. Whistleblower with illegal possession of confidential documents,

or some equally stupid but effective ploy.

This whole American structure is a very bad soap opera.

 

Mon, 12/20/2010 - 02:08 | Link to Comment Bearster
Bearster's picture

The law today provides that the accused is presumed innocent until proven guilty.  If the only evidence is from an eyewitness, and it turns out the eyewitness has a grudge against the accused, the defense does not have to prove the eyewitness is lying.  That's what "proof beyond a reasonable doubt" is.

Imagine if the circumstances were reversed.  A random person in society was accused of heinous crimes, and the only witness was a "bankster", and it turned out the bankster had a grudge against this person.

You cannot change the law back and forth based on a prejudiced view of "well, we know who the good and bad are in this case."

Rule of law, and all that...

Mon, 12/20/2010 - 11:44 | Link to Comment MachoMan
MachoMan's picture

Bingo...  it's called the credibility of the witness.  If the trier of fact should disregard the witness' statements, then they will...  if not, they won't...  for them/judge to decide.  Generally, the "truth" is painfully obvious in most of these types of things... 

At the very least, we'll call it a pissing contest between a snake and the devil...  one has just a little less shit stink on them than the other...  which is good enough.  I can't fathom that JPM or any TBTF is remotely going to get a "neutral" jury...  they're fucked from the start.  [just like BP will be for any of its suits].  A witness like this will help ensure the case can get to the jury.

Sun, 12/19/2010 - 23:38 | Link to Comment Tense INDIAN
Tense INDIAN's picture

i heard an interview of this guy Lindsey Williams ..when he said that oil will go to 150 dollars and then back below 50.....which really happened in 2008....i know Alex Jones is a fraud but he does have some good materials.....some nice videos of interview wit an ELITE......hear things like /----"Euro is going to collapse....before the Dollar....but then there be just 2-3 weeks before the dollar collapses.."....

http://reddragonleo.com/tag/legatus/

Mon, 12/20/2010 - 02:41 | Link to Comment AmericaRacket
AmericaRacket's picture

Why on earth would you call Alex Jones a fraud?  He was right on damn near everything.  Right on the global warming swindle.  Right on the Peak Oil fraud.  (Peak Oil is due to suffer the next Climategate.  Peak Oilgate is coming--mark my words.)Right on 9/11.  Right on the bankster bailouts.  He was on the Fed's ass before it was popular.  Jones might not be right on everything, but for a guy who is on the air 30 hrs. per week he makes astonishingly few blunders.

Mon, 12/20/2010 - 06:37 | Link to Comment Eric The Red
Eric The Red's picture

Peak Oil is not a fraud.  Just wait and see.

Sun, 12/19/2010 - 23:40 | Link to Comment sbenard
sbenard's picture

"credit card" fraud?

This debt debacle is growing!

Mon, 12/20/2010 - 00:06 | Link to Comment Sophist Economicus
Sophist Economicus's picture

"

JPM Fraudclosure Whistleblower Emerges"

 

The question is -- Did she see her shadow...

Mon, 12/20/2010 - 00:10 | Link to Comment gloomboomdoom
gloomboomdoom's picture

nope. but she saw Ben Bernanke and gave him a big KISS ON THE LIPS

Mon, 12/20/2010 - 00:15 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Thanks for the image - another TV dinner wasted

Mon, 12/20/2010 - 00:21 | Link to Comment Strongbad
Strongbad's picture

Everyone should click the Chase ad a bunch of times and make JP Morgan waste valuable pennies, haha.

Mon, 12/20/2010 - 01:05 | Link to Comment watchingdogma
watchingdogma's picture

Between 2004 and 2005, JPM sent me several credit card offers @2%-4% (plus 3% transaction fee) for the life of the loan.  I took 45K and bought 60 100 Oz. bars of silver.  I'm still paying off the credit card - one minimum payment at a time (ok - sometimes I pay more than the minimum).  I have 13K left to go...

Mon, 12/20/2010 - 01:47 | Link to Comment trav7777
trav7777's picture

you paid the 3% tx fee??

Mon, 12/20/2010 - 09:57 | Link to Comment Spigot
Spigot's picture

Dude, he bought 6,000 ounces of silver at $7.50 per ounce. You should be congratulating him on his 4 banger.

Mon, 12/20/2010 - 00:25 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Time these "credit" cards were called out for what they are, 'Debt Cards".

Will that be cash or debt?

And only i separate debt from debit?

Strange, this english language.

Just Pay Me.

JPM

Simple.

ORI

http://aadivaahan.wordpress.com

Mon, 12/20/2010 - 00:29 | Link to Comment skippy
skippy's picture

I could write something important like...as water is injected into meat or toxic chemicals sprayed upon them to make it look taster and sold...so is debt, but some old friends have asked me to drop off some gear on my next offshore fishing trip.

 

Skippy...the duffel bags make a weird metallic clink...what ever.

Mon, 12/20/2010 - 00:56 | Link to Comment the rookie cynic
the rookie cynic's picture

Jamie Dimon is the John Law of the 21st Century.

http://therookiecynic.wordpress.com/2010/12/15/is-jamie-dimon-the-john-l...

Mon, 12/20/2010 - 00:59 | Link to Comment TexDenim
TexDenim's picture

He's a plant from Goldman. They want to take over JP Morgan. Indeed, they want to take over, period.

Mon, 12/20/2010 - 01:31 | Link to Comment lunaticfringe
lunaticfringe's picture

Almonte just a disgruntled ex employee. Mad because I wouldn't bed her.

 

-Jamie

Mon, 12/20/2010 - 01:59 | Link to Comment Drag Racer
Drag Racer's picture

This one I had a good laugh over just so I wouldn't get pissed...

New York Set to Allege Ernst & Young Stood By as Lehman Cooked Its Books

Then why do we not arrest those that cooked the books you fucks.

online.wsj.com/article

Mon, 12/20/2010 - 02:24 | Link to Comment Milton Waddams
Milton Waddams's picture

The compliance department of any respectively run financial company knows that you keep at least three files on every account.

When confronted with the dumb and lazy auditor -- you give him the file comprised of arcane mathematics and legalese, while concluding each section with easy to read explanations favorable to your firm.

When confronted with the go-getter type -- you give the file consisting of thousands of documents, all interlinking. "See Appendix J in File T to understand Rule E in Document 9815". When they come to you for clarification you tell them that the potentially bad stuff is happening on the floor below you.

When confronted with the straight and narrow type. If the blatantly made-up shit won't pass the smell test you get them drunk enough to agree to do lines off a hooker's tit and then threaten to use it against them. Barring that, offer an employment opportunity that is contingent upon the made-up shit being determined as above-board.

Mon, 12/20/2010 - 03:04 | Link to Comment SmittyinLA
SmittyinLA's picture

This is why they had to retain all those "valuable employees on at necessary high wages", not to keep them from going on to greener pastures, or for their assistance in "unwinding those complex transactions" that only they can understand but to keep their mouths shut.

Mon, 12/20/2010 - 04:02 | Link to Comment Fat Ass
Fat Ass's picture

She is a hero, and hopefully more step forward.

Mon, 12/20/2010 - 07:48 | Link to Comment anony
anony's picture

Along with the myths that 1) the sun rises, 2) there is a god, and 3) you will be happy being married to a beautiful woman with ample pulchritude, the legendary story of Hero is ass backwards, too.

Hero was a woman, granted.  BUT she killed herself when she mistakenly believed that her lover, Leander, was dead.  Someone hardly to model oneself after.

You'll thank me later for this little tidbit.

Mon, 12/20/2010 - 06:50 | Link to Comment gloomboomdoom
gloomboomdoom's picture

Bernanke saved us from a second Great Depression!

No "Double-Dip". Nothing else is coming!

Cash is king and so is the US!

Gold is a bubble now bursting! :)

Mon, 12/20/2010 - 07:48 | Link to Comment fiftybagger
fiftybagger's picture

Having an honest person rat you out is always a danger when running any crooked racket.  That's why the gangs make you kill somebody, the masons and jesuits take a blood oath, the satanists make you watch a bloody sacrifice, and the politicians all have gay or underage sex.  Hence normal honest women are a grave threat, very hard to control.  Blackmail makes it easier to run things smoothly you see :-)

But then again, I'm just a conspiracy nut job....

http://www.youtube.com/user/BrotherJohnF?feature=mhum

 

 

Mon, 12/20/2010 - 09:51 | Link to Comment Spigot
Spigot's picture

Dude, he bought 6,000 ounces of silver at $7.50/oz . You should congratulating him on his 4 banger, OK?

Do NOT follow this link or you will be banned from the site!