JP Morgan Implicated in More Fraud
Posted: Fri May 03, 2013 1:23 pm
http://dealbook.nytimes.com/2013/05/02/ ... tory-woes/
"Government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers,” and that one of its most senior executives gave “false and misleading statements” under oath.
"The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets."
Plus it looks like Blythe Masters, who has been written about before as one of the leading architects of credit default swaps, is one of the targets of the investigation for at least misleading investigators. Terms like "individually liable" and "systematic cover-up" are pretty scary when those involved see them naming them.
"Government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers,” and that one of its most senior executives gave “false and misleading statements” under oath.
"The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets."
Plus it looks like Blythe Masters, who has been written about before as one of the leading architects of credit default swaps, is one of the targets of the investigation for at least misleading investigators. Terms like "individually liable" and "systematic cover-up" are pretty scary when those involved see them naming them.