Most Grifters Skip Town After the Con is Over, But Not JPM

"The firms made material misrepresentations about the quality of the loans in the securities, the lawsuit said, and ignored evidence of broad defects among the loans that they pooled and sold to investors. "

“The government’s action represents a complete validation of the cases brought by investors who were duped by the fraudulent sale of mortgage-backed securities by JPMorgan, WaMu and Bear Stearns.”

Just in time for the Fall political season, huh?

There are some juicy e-mail copies from a former Bear Stearns executive that describe the pools of MBS's in question as "shit breather", "piece of shit", "sack of shit", etc.