Originally Posted by Mega Man Warning: Spoiler! (Click to show)
You do realize that all banks were required by law to lend these mortgage
Which then caused the crisis. Which then they were "sued" for. .
Also they did not need to take the bailout (Jamie Dimon ceo is on record saying this) they were requested to because of they took it other banks would be able to access the funds.
They also paid it back in full by 2009.
I won't pollute this thread any more but feel free to msg me if you want links otherwise I would recomend checking your facts
I'll leave it to this as well but as a lawyer who's worked with several national organizations leading this work and their respective lawsuits I have to respectfully disagree with your characterization of my representation of these facts
Warning: Spoiler! (Click to show)
and would also encourage you to look into the rich history of litigation against JP Morgan Chase including their record breaking settlements (particularly around the housing crisis and abuse of HARP/TARP) as well as the terms of the bailout in the first place (nevermind Chase's well documented culpability in the racist practice of redlining), and would also discourage you form taking the word of their CEO over the terms and realities of the bailout - even if the facts of the bailout/Bear Stearns acquisition, as well as the resulting litigation and supreme court decisions don't debunk your "he said so" herring, they've been getting reamed by forbes, the washington post, et al; and even the National Association of Realtors for years about their mishandling of the bailout in a way BofA can't even match)
- happy to discuss or whatever over pm if anyone cares Edited by claes - 5/26/15 at 9:32pm