JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk’s ever-growing demand for mortgages to securitize. Now, those parties are suing to get their money back, and they might get it.
Continue reading Did Bear Stearns Know Its Mortgage Securities Were a House of Cards?
Did Bear Stearns Know Its Mortgage Securities Were a House of Cards? originally appeared on DailyFinance on Fri, 28 Jan 2011 09:15:00.
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