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Assured Guaranty Ltd. Message Board

  • whiskeybearrobin@att.net whiskeybearrobin Jun 22, 2011 8:19 AM Flag

    JPM = bond fraudster

    Dimon's bank just agreed to 550M SEC settlement for doing the *exact* same thing as Goldman: Hedge fund picks mortgages most likely to fail, bank bundles these into a CDO, sells CDO to pension funds as AAA-best investment and no disclosure on hedgie's role, hedgie places short bet, hedgie sucks away the accumulated wealth of these pension funds when security fails.

    One difference: "Unlike Goldman, which settled a fraud charge indicating it acted with intent or recklessness, JPMorgan was charged in a way that suggests its activity may have been negligent."

    http://www.reuters.com/article/2011/06/21/us-jpmorgan-sec-settlement-idUSTRE75K5A420110621

    Not sure if AGO insured any of these but if it did, they are clearly off the the hook for covering them.