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The American Empire in a Changing World



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Thursday, December 22, 2011

Analyst says: "JP Morgan could be in worse shape than Bank of America"

NEmpire learned about teri and her blog from max keiser....she is a must read........


read the full post......from teri buhl.....


"Investors who bought billions of residential mortgage securities from Bear Stearns have woken up to the fraud machine I’ve been reporting on at Bear and EMC all year. On Friday, a Texas legal firm made famous for negotiating an $8.5 billion settlement with Bank of America for rmbs investors, made a similar move on JP Morgan. Gibbs and Burns, who represents clients like Blackrock and PIMCO, sent a nasty warning letter to five banks who act as trustees for JP Morgan owned RMBS. They called for an investigation into breach of contracts and substandard servicing of these mortgage bonds."

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