Yves Smith has no tolerance for Jamie Dimon's (JPM) crocodile tears over the "long, ugly mess"...

|By:, SA News Editor

Yves Smith has no tolerance for Jamie Dimon's (JPM) crocodile tears over the "long, ugly mess" in fixing foreclosures. The real intent, she says, is to deflect calls for the big banks to bear more costs: "They piously pretend that they are taking their medicine... In reality, the costs are passed along and the risks of them doing a bad job are borne by someone else."