"Generally speaking, emails are great for lawyers," said Charlie Munger yesterday. JPMorgan...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

"Generally speaking, emails are great for lawyers," said Charlie Munger yesterday. JPMorgan (JPM) emails released as part of an MBS lawsuit show the bank (along with WAMU and Bear Stearns) systematically papering over, rather than disclosing things like fraudulent appraisals and unworthy borrowers on home mortgages. A great look into how the sausage got made.