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Another Chase Story

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Non Sequitur

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Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Once a Robber Baron always a Robber Baron:
"JPMorgan, it appears, was running an elaborate shell game. In the depths of the financial collapse, the bank had unloaded tens of thousands of toxic loans when they were worth next to nothing. Then, when it needed to provide customer relief under the settlements, the bank had paperwork created asserting that it still owned the properties. In the process, homeowners were exploited, investors were defrauded, and communities were left to battle the blight caused by abandoned properties. JPMorgan, however, came out hundreds of millions of dollars ahead, thanks to using other people’s money."

https://www.thenation.com/article/h...he-2008-mortgage-crisis-with-phony-mortgages/

http://www.esquire.com/news-politic...s/politics/a12787808/jp-morgan-mortgage-scam/
 
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Randolph Kinney

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Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
You know Citi is now back into the synthetic CDO game, big time. What could go wrong?
 

Mark K

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Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
Whenever I read about some devious, underhanded, ethically-challenged large corporation that's figured out how to screw the general population, my first thought is 'maybe I should buy stock in this company.'

It's 'heartwarming' stories like this that make me glad I bought JPM stock in '09.
 
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Terrel L. Shields

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Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
my first thought is 'maybe I should buy stock in this company.'
My late brother's philosophy. Which is why he bought the old Alltel stock, WalMart, and Mattel..."Anyone that crooked has got to be making money."
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Risk? The federal reserve destroyed risk. No price discovery, misallocation of risk and capital.

Stocks are at record highs while volatility is at a record low.
 

Big ole Boy

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Joined
Dec 6, 2003
Professional Status
General Public
State
Tennessee
Risk? The federal reserve destroyed risk. No price discovery, misallocation of risk and capital.

Stocks are at record highs while volatility is at a record low.

Much of what we "think" the world "is" - "Is" actually an illusion. No better example of "the illusion" than the hall of mirrors that generations of consumers and investors run headlong into the FIAT menagerie. Unbridled greed and moral turpitude are the result of humans whom have no governance in these big cities of financialization.

Our world is awash and has taken on too much water.
 
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