by Sven Magnussen
Matt Taibbi, Rolling Stone Magazine, published a story on a JP Morgan Chase whistleblower, Alayne Fleischmann. Fleischmann is a lawyer who worked in JP Morgan Chase's mortgage securities department. Fleishmann alleges JP Morgan Chase executives were warned about securities fraud with respect to the packaging of mortgage backed securities. Worthless securities were packaged with fraudulently obtained mortgages and sold to an unsuspecting public with the full knowledge and approval of senior executives with JP Morgan Chase.
U.S. Attorney General Eric H. Holder, Jr. settled the civil matter for $9 billion with JP Morgan Chase and has refused to file criminal charges.
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