Two Lawsuits Filed Against JP Morgan In Connection To Mortgage Foreclosures

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Tue, 11/09/2010 - 10:20 | 711522 SheepDog-One
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So then JPM will be up another couple % today then. <:P

Tue, 11/09/2010 - 10:47 | 711586 erik
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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?

Tue, 11/09/2010 - 14:26 | 712464 Bananamerican
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One nice thing about TBTF is that these "one stop shops' for fraud and malfeasance  are now too big to fail... to attract lawsuits.

DIE JPM

Tue, 11/09/2010 - 10:28 | 711537 unum mountaineer
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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.

Tue, 11/09/2010 - 10:35 | 711554 JimboJammer
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Dear  Zerohedge...

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 ..

Tue, 11/09/2010 - 10:36 | 711556 doomandbloom
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'..they stab it with their silvery knives...but they still can't kill the beast...'

Tue, 11/09/2010 - 12:37 | 711991 Logans_Run
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It's "steely" not silvery, but I get your point! Don Henley for President!

Tue, 11/09/2010 - 14:27 | 712475 Bananamerican
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"...must... resist...junking..."

DH must die

Tue, 11/09/2010 - 10:40 | 711567 AngryVoter
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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.

Tue, 11/09/2010 - 11:06 | 711644 MachoMan
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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.

Tue, 11/09/2010 - 12:42 | 712009 Logans_Run
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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!

Tue, 11/09/2010 - 16:02 | 713000 MachoMan
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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....

Tue, 11/09/2010 - 11:31 | 711729 Problem Is
Problem Is's picture

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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