JPM Settles Magnetar Charges Related To Misleading CDO Information With SEC For $153.6 Million
- SEC TO HOLD CONFERENCE CALL TO DISCUSS ENFORCEMENT VS JP MORGAN
- JP MORGAN TO PAY $153.6M TO SETTLE SEC CHARGES
- JP MORGAN TO SETTLE SEC CHARGES ON MISLEADING IN CDO ON HOUSING
- SEC CITES MISLEADING INVESTORS IN CDO TIED TO HOUSING MARKET
- KHUZAMI: JPMORGAN FAILED TO DISCLOSE MAGNETAR'S ROLE, INTERESTS
- KHUZAMI: JPMORGAN HAS REIMBURSED INVESTORS IN TAHOMA CDO
- KHUZAMI SAYS SEC MISLED INVESTORS IN SQUARED CDO
Done and done. And now JPM is off the hook for ever and ever. In other news JPM made $153.6 million in profits since you clicked on this post. Of course, that's irrelevant as Bear Stearns will be stuck with the bill.
In other news, www.bangbus.com shares are surging on a rumor of an imminent $153.6 million investment from an unknown source
From the ongoing media conference: (dial in: 800 288 8967 begin_of_the_skype_highlighting 800 288 8967 end_of_the_skype_highlighting pass 208505)
- The recurring question from the ongoing press conference is why nobody at JPM is being charged, and Khuzami is completely unable to reply.
- Another question for the porn addicts is why it charged GSC's Steffelin in this case while it did not charge anyone from ACA in Abacus. Either the response is either very muffled, or Khuzami has a large appendage in his mouth.
- Another question is why did the SEC announce and settle at the same time, instead of allowing due court process.
- Question: who at JPM knew that Magnetar was selecting the CDO; SEC response: we will not comment beyond what is publicly filed.
- Why is there no 10(b) case against JPM? No, the decision is based on the "evidence, and the facts and the law" not to mention the bribes and the SEC exit job opportunities.
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