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JP Morgan lied to regulators

By Implode-Explode Heavy Industries

"..., we have a fairly comprehensive proof that JP Morgan did lie to regulators. The only issue is did they lie to regulators when encouraging them to confiscate Washington Mutual or did they lie when they were conducting the stress test? If they lied to Sheila Bair to get them to confiscate WaMu and she believed them then she must resign. But the alternatives I see are worse."

Full post as published by Mortgage Lender Implode-o-Meter on May 10, 2009 (boomark / email).