Seeking Alpha

JPMorgan (JPM) is sued by CIFG Assurance, which claims it lost over $100M insuring...

JPMorgan (JPM) is sued by CIFG Assurance, which claims it lost over $100M insuring toxic-mortgage-filled CDOs created by Bear Stearns. JPMorgan recently settled with the SEC over Bear-related charges, but now will have to deal with private-party lawsuits.
From other sites
Comments (2)
  • Brian Bobbitt
    , contributor
    Comments (1905) | Send Message
     
    Somehow, our system is not up and running. Our system of checks and balances, judicial, executive and all government doings are totally focused on giving money away to anyone who does not deserve it, and not adhering to the principles of our laws either in name or even cloaking their lack of execution of our Bill of Rights, nor the Constitution, nor their oaths of office.

     

    Our government employees, elected, appointed, are going off on tangents which was not what they were hired to do, nor what they legally should be doing.

     

    There is no talk of asking why our elected officials (Frank & Pelosi) forced banks to loan money to people who 'had to have a house of their own because they deserved it', (not because they earned it) why they deserved a home loan, with no down payment, no income etc, I am not quite sure. Flies in the face of all I know about banking and fiscal responsibility, masked by helping the poor or some other nonsense reason.
    So, here we go, ignoring the reason for being wet in the living room during a storm. No one seems to want to come right out and say, "The roof is leaking." Reality is not always nice, so it is easier to ignore the facts for the present. It is called 'procrastination" Which, if you will allow me again to coin a phrase, my daffynition of procrastination, is, "Living in the past, ignoring the present, and ruining the future."
    We have a roof leaking, it is government's fault, and behind them it is the voters. we voted for them, and allow things now that caused impeachment in the day.
    I could go on and on. but the real varmint of the banking system is simply criminals. Starting with the politicians who demanded it, the residential home estimators of value, then the bankers who knew they were 'buying' overvalued estimates of home values, then knowing this, sold bundles of those bad (toxic) loans to unsuspecting investors, and the rest is history. So who should sued? Everyone down the line to the appraiser who flat out lied, padded the values? The voters who allow criminals to be in office? Who is ultimately responsible here?
    Don't you see it? Damn, a blind man could pick it up. WE are to blame, our entire society of takers.
    So, go fix that.
    We have the Kings and Queens of fools running the show, and the fools elected and allow their actions. So who needs to be fixed, the Kings and Queens of Fools, or the Fools who run the show underneath, the people.

     

    Again, go fix that. It will take some generations into the future to get back to working not taking.

     

    Sorry, them's the fact ma'am, just the facts.

     

    Capt. Brian
    The Lost Navigator
    27 Nov 2012, 02:14 PM Reply Like
  • Howard Hunt
    , contributor
    Comments (67) | Send Message
     
    AMEN, Captain!
    27 Nov 2012, 04:51 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector