UPDATE: JP Morgan is afraid of the RMBS Fraud Suits

JP Morgan is showing signs of fear. Yesterday, I updated Keiser Report viewers on the dirty tricks the bank’s lawyers and former Bear Stearns mortgage traders are pulling in an atempt to stop the truth coming out in the Bear Stearns/EMC fraud suit. A story I first began reporting a year ago at The Atlantic has now led to a very active New York Attorney General investigation for possible violations of the Martin Act and witness tampering.

Click here to see the full interview it starts at minute 13.

Nick Verbitsky, documentary film maker and founder of BlueChip Films, received a call from the NY AG’s office last month requesting all unedited footage of former Bear/EMC anaylst turned whistleblowers. Verbitsky’s film about the failure of Bear Stearns and how some players of the media, CNBC, failed to deliver reliable news is about to begin showings at business schools around the country. It’s a must see and you can watch the trailer here.

UPDATE 8-20-11: My former employer, Hearst CT Newspapers, has finally figured out Verbitsky has made an important film and it’s newsworthy. It’s nice to see they still follow my reporting — even if it took a year for them to write a good review this week. The Hearst writter gets a little confused on who the important players are in this film. The background detail Roddy Boyd provides highlighting what Tom Marano’s team of Bear traders saw regrading real liquidity issues is much more important to the story than anything Andrew Ross Sorkin (who did very little reporting on Bear in 2008) has to offer. Nick’s big finds in this film are really the EMC and Moody’s whistleblowers and it’s their testimony of fraud and negligence that makes this a must see film.


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    HEDGE FUNDS INVOLVED IN ILLEGAL TRADING OF WAMU. JPM has unclaimed Wamu properties waitng on a POR that excludes E.C. and wants all the NOLS as well. See today’s filing link http://www.kccllc.net/documents/0812229/0812229110810000000000001.pdf

  2. Teri – for god’s sake set up an RSS feed for your blog – so that people can be ‘fed’ your posts

  3. Hi there,

    Managed to catch you on the last Keiser report and wanted to commend you on the work you are doing. Will be difficult actually taking any of these institutions to task for all the CRIMES they commit, but the pressure should be applied nonetheless.

    Interesting to hear the specifics of the JPM case from you. Will have to catch up on reading your website.

    Best regards from SE Asia.

  4. Larry Fike says

    Good work Teri.
    Keep it up.
    Love reading your stuff.
    Watched you on Max Keiser. Dynamite.

    Larry Fike CFP

  5. Teri,

    If you want to expose fraud, collusion, Project West, incriminating e mails etc , by J.P Morgan themselves, then you need look no farther than the Washington Mutual heist where the used “unprecedented financial times” and a panicked and brainwashed Shelia Bair to take down a 100 year old institution calling it insolvent! I highly recommend you familiarize yourself with this ongoing saga! It wreaks of illegal acts and wrongdoings at the highest levels! See insider trading by hedge funds for latest twist!

  6. Teri,

    This is more than worth reading to bring you up to speed on the Washington Mutual heist.


  7. It’s a shame you don’t have a donate button! I’d most certainly donate to this excellent blog! I suppose for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to brand new updates and will share this blog with my Facebook group. Talk soon!

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