3 votes

US government to sue JPMorgan in mortgage case: Sources

Published: Monday, 23 Sep 2013 | 6:33 PM ET
By: Aruna Viswanatha and Emily Flitter

Adam Jeffery | CNBC

The U.S. Justice Department is preparing to sue JPMorgan Chase over mortgage bonds it sold in the run-up to the financial crisis, a sign the bank's legal troubles are not yet over.

A lawsuit, first reported by Reuters, could come as early as Tuesday, people familiar with the matter said on Monday.

JPMorgan spokesman Brian Marchiony and Justice Department spokeswoman Adora Andy Jenkins declined to comment.

read more http://www.cnbc.com/id/101056034?__source=xfinity|mod&par=xfinity




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My prediction

JPMorgan will settle.

They will pay a fine that is much less than the illgotten profits they made

They will not have to admit to any wrong doing

Somehow, somebody will get a warm fuzzy about this

The "news" will be all over this and Obama's justice department will get praise

Don''t think much will come of this...

but it is still nice to see some of the banksters still in the hot seat.

"Necessity is the plea for every infringement of human freedom. It is argument of tyrants. It is the creed of slaves." William Pitt in the House of Commons November 18, 1783
"I have one word for you...predator drones. Oh, you think I'm kidding?" Obombya