JPMorgan Chase last night alerted attorneys that employees in its foreclosure operations unit may have signed affidavits without personally reviewing the documents, the same issue that has recently plagued GMAC Mortgage, according to a memo obtained by HousingWire…Chase is requesting that the courts not enter judgments on pending foreclosure cases until it completes the review in the next few weeks. [HW via BI]
NBD
The SEC has a history of massive fuck-ups. We know this. But, to date, many of these fuck-ups have a logical explanation. Missing Madoff’s multi-billion dollar scam for years and years? Bernie was just such a “captivating storyteller” that they got “distracted.” The whole Allied Capital thing? They though it was that wily David Einhorn, trying to throw people off his trail! Today comes word the Commission has added another notch to this particular bedpost, via letting a guy who turned himself go off and get his MBA for a few years before charging him with fraud. Continue reading »
Someone would like to know where this alleged one ranks. From the mailbag: Continue reading »
JPMorgan Brushes Off Employee’s Lawsuit Detailing Working For An Allegedly Racist, Sexual Predator Who Intimidated Underlings With His Gun Collection As No Big Deal
By Bess LevinBack in July, Kevin Dillon filed a lawsuit against his employer, JPMorgan, with a variety of complaints. Dillon, a “client processing specialist,” claimed that though he was well-liked and slated to receive a bonus and promotion, he was retaliated against for filing a report citing “highly questionable accounting and management practices” at Highland Capital Management LP and recommending that JPM cease “facilitating Highland’s improper practices.” The bank did not take Dillon’s suggestion and cut Highland loose, but what they did do was take away away his bonus, promote incompetents over him and offer negative but purposely vague reviews. Oh, and this:
In addition to the retaliatory action, Dillon cites two examples of “alarming behavior” by his supervisor. In one instance in 2008, the supervisor told Dillon he needed to clean “the mess” that was created by an African-American employee “who the supervisor admitted was hired primarily to combat adverse fallout from previous racial and sexual discrimination suits brought against the defendant because of the supervisor’s acts,” according to the lawsuit. In another instance, the lawsuit details how his unnamed supervisor allegedly discussed with Dillon the “wide array of guns he possessed and described to (Dillon) the violent acts he would commit if anybody crossed him or his family,” according complaint.
Today, JPMorgan has responded in the most awesomely dismissive way possible. Continue reading »
Are you among the 42 and 39 percent, respectively, relieved? What will you be doing to celebrate? Running out and buying the next level of books during lunch? Not as lucky? Feeling like you just threw away the last four to six months of your life? Want to get angry? Want to make someone pay? Wanna see the institutes denial of your quest to put their precious three letters next to your name with three letters of your own? Continue reading »
Nobody really listened to him much though, probably because the subject lines of his emails to Bob Rubin and Co were fairly mundane (“THIS LOOKS REALLY FUCKING BAD, FELLAS”) and he forgot to mark them high alert. Just kidding, of course, that’s exactly what he did.
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