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News Link • Corruption

Regulators: JPMorgan illegally let Lehman Bros. count customers’ funds as its own

• Washington Post
JPMorgan Chase illegally allowed Lehman Brothers, the investment bank whose 2008 bankruptcy brought the financial system to the brink of collapse, to count customers’ money as its own, according to federal regulators.

The arrangement boosted the amount that Lehman could borrow from JPMorgan, where the customers’ money was deposited, regulators charged Wednesday.


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