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Loan Modification

: Mortgage Lender Implode-o-Meter

JPMorgan 'ignored Bernard Madoff red flags'

By Implode-Explode Heavy Industries

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``The bank?s Equity Exotics & Hybrids Desk is alleged to have wilfully overlooked concerns over how Mr Madoff was generating his returns because it was making good money from selling products linked to the performance of the Ponzi scheme?s feeder funds... The suit is claiming $6.4bn (£4bn) from JPMorgan Chase for allegedly ?aiding and abetting? the fraud as the primary banker for Mr Madoff?s firm. ''

Full post as published by Mortgage Lender Implode-o-Meter on February 04, 2011 (boomark / email).

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