JP Morgan as BP's Biggest Shareholder Says Oil Disaster is Good for the Economy!

JP Morgan says that the Gulf oil spill will help the economy.

This is an odd thing to say, given that the spill is our modern dust bowl, which could very well deepen and prolong our economic woes.

What might explain such an odd statement?

Well, JPM is apparently BP's largest shareholder. So happy talk meant to drive BP's share prices higher can only help JPM.'

Read more...

JPMorgan Instructs Homeowners To Stop Making Payments Then Takes Their Homes

JPMorgan Chase instructed homeowners to stop making mortgage payments, as that was the only way to be considered for a loan modification, then repossessed their house when they followed the bank’s advice, a couple claims in Federal Court. “I’ve seen this happen to so many people,” their attorney said. “When they come in here to tell me their story, I can actually tell it to them.”

Faiz and Khadua Jahani sued Morgan Chase and its predecessor, Washington Mutual Bank, on their own behalf and on behalf of the public.'

Read more...