JPMorgan Subpoenaed For Mortgage Debt Records

Tyler Durden's picture

First we had this: JPM's Mortgage Unit Sued To Disclose Loan Quality Data, Following Allegations It Misrepresented Over 70% Of Loan Portfolio

then this: JP Morgan Sold Investors MBS Covered By "SACK OF SHIT" Loans... Then Shorted All Those With Exposure: A Goldman-AIG Redux

and lastly, this: Here Comes Abacus V 2011: Former Head Of JPM's Structured Products Desk To Be Charged With Securities Fraud For CDO Transactions

All of which combined or seperately lead to this:

  • JPMORGAN SAID TO BE SUBPOENAED BY SEC FOR MORTGAGE DEBT RECORDS

As for questions of whether there will be any prison sentences to come out of any of this, save them for comedy hour. At best, we will get another Credit Suisse disclose-and-settle standby case.