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So then JPM will be up another couple % today then. <:P
has anyone calculated the loss potential due to both the silver manipulation issue and mortgage problems at JPM? i know the mortgage costs could range in the billions, is the silver issue that big too?
One nice thing about TBTF is that these "one stop shops' for fraud and malfeasance are now too big to fail... to attract lawsuits.
Jamie email to Ben shalom (jon, blythe and timmay cced) :
message: warm dem printing press up hoe! and make a grill cheese..gawd help you if there is crust on it! rub my feet too.
JP Morgan / Chase / Washington Mutual took my nice house
in Michigan .. they don't really have the note to this house.
It got lost... I want to get this info to the lawfirm ..
'..they stab it with their silvery knives...but they still can't kill the beast...'
It's "steely" not silvery, but I get your point! Don Henley for President!
DH must die
Glad to see this story is staying alive. Hopefully as they dig into these cases the rest of the fraud will start to unravel as well. Our economy will not recover if these crooks go unpunished. TBTF my arse.
I think it's funny that the banks think by going this route, they won't alienate all safe harbors (non judicial states)... my guess is that we do away with non judicial foreclosures... they're a total fucking mess anyway... let alone when you throw mortgage fraud in the mix.
Unfortunately I think that the banks have already bought all the safe harbors they need. Not just at the Federal level but the state level as well. I personally think that we are fucked!
As someone who practices at multiple levels of courts and who has daily interactions with judges "shooting the bull," I have no idea why so many people think our courts are awash with corruption... I mean, literally, I have no idea... how did fraudclosure gate get started in a florida court then? Was it by devious design? The reason most courts side with banks is that, generally speaking, liability on a promissory note is a slam dunk... once the note is presented, practically speaking, the burden shifts to the other party to prove that he/she complied with its terms... not saying anyone could do the case, but in the scope of things, it's like playing in the kiddie pool. To the general public, it may seem that courts are in the pocket of banks, but in reality, the law is in the banks' favor... simple as that.
The wild card is equity, but generally that's only invoked when no adequate remedy at law exists...
Needless to say, unless unconstitutional or otherwise prohibited by the requirements of a separation of powers, the legislature can effectively neuter the judiciary. Not saying that has been done, but should one be so inclined....
Lord Dimon Addresses the Morts with the Standard Haughty Hubris:
Jamie Dimon: "Once I am installed as Secretary of the US Treasury..."
(Read: King of Finance)
Jamie Dimon: "... I shall abolish these suits and those who bring them as a nuisance... to Wall Street who owns you."
(Read: By Royal Decree)
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