Other People’s Money–And Alleged Fraud at JPMorgan Chase Bank
In a Nation investigative exclusive, I edited this jaw-dropping expose by David Dayen, revealing how America’s biggest bank paid its fine for the 2008 mortgage crisis–with phony mortgages! Specifically, JPMorgan allegedly claimed credit for forgiving loans on properties–wait for it–that it no longer owned. The bank came out hundreds of millions of dollars ahead;the rest of us, not so much. And there is strong evidence CEO Jamie Dimon knew and approved of the scheme: https://www.thenation.com/article/how-americas-biggest-bank-paid-its-fine-for-the-2008-mortgage-crisis-with-phony-mortgages/
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