More News
- Page Two
- News Links
Anarchives
Radio/TV
- Declare Your Independence with Ernest Hancock
Letters To Editor
- List of Letters
- Write a Letter
Join Us
Marketplace
- Buy Stuff - Sell Stuff
- Store on CafePress.com
Special Editions
RSS Feeds
About Us
Log-In

Make a Comment • Email Link • Send Letter to Editor

IPFS News Link • Housing

Mortgage System Is Such A Disaster "Everybody Is Going To Sue Everybody Else"

07-15-2011 • Businessinsider.com

Jamie Dimon said yesterday that "there have been so many flaws in mortgages that it’s been an unmitigated disaster" and the system is in serious need of an overhaul. "We just really need to clean it up for the sake of everybody," he said on a conference call, acc cording to Bloomberg, "and everybody is going to sue everybody else, and it’s going to go on for a long time." No-one knows that better than Dimon, whose bank, JP Morgan, could pay between $20 - $25 billion to fight lawsuits stemming from issues related to faulty mortgages prior to and during the financial crisis, according to bank analyst Chris Whalen.

Read Full Story

Reported By Jack Gregson

Make a Comment • Email Link • Send Letter to Editor