Seeking Alpha

Jerry U

Jerry U
Send Message
View as an RSS Feed
Latest  |  Highest rated
  • Forget the low end of JPMorgan's (JPM) assertion of $0-$6B in possible losses from the FHFA lawsuit over $33B in MBS, writes Alison Frankel. A judge's Monday decision allowing the suit (and a similar one against Merrill Lynch) to go forward blew up nearly every argument made by the banks, including the key one that Frannie - being so sophisticated with MBS - should have known better. The banks don't want this is front of a jury. Look for a settlement before the summer 2014 trial date. [View news story]
    CNBC interested in consumers of financial services?
    Nov 11 06:42 PM | 2 Likes Like |Link to Comment
  • Forget the low end of JPMorgan's (JPM) assertion of $0-$6B in possible losses from the FHFA lawsuit over $33B in MBS, writes Alison Frankel. A judge's Monday decision allowing the suit (and a similar one against Merrill Lynch) to go forward blew up nearly every argument made by the banks, including the key one that Frannie - being so sophisticated with MBS - should have known better. The banks don't want this is front of a jury. Look for a settlement before the summer 2014 trial date. [View news story]
    Not only were Fannie and Freddie private, mostly at the urging of Republicans, but they were followers of what was happening in the rest of the private market. They adjusted to compete.

    Let's downsize banks so they can be held responsible by the market rather than making the market succumb to big, monopolistic enterprises.
    Nov 11 06:42 PM | 1 Like Like |Link to Comment
COMMENTS STATS
2 Comments
3 Likes