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The SEC just announced that JPMorgan will pay over $150 million to settle charges that it misled investors in "CDO Squared." The charges were that JPMorgan let Magnetar, a hedge fund, select the assets in CDO Squared, and then sold those assets to investors. The problem was that JPMorgan didn't disclose to investors that Magnetar had selected the assets in CDO Squared, and then bet that those assets would fail.
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JPMorgan Chase & Co. is paying $153.6 million to settle accusations that it misled investors about mortgage-backed securities it sold just as the financial crisis was beginning. The Securities and Exchange Commission said in a compl... Read Post

Back in March, we heard that the hedge fund Magnetar packaged CDOs with the riskiest assets they could find, apparently because JPMorgan allowed them to. Now the SEC is investigating whether or not JPMorgan did anything wrong by all... Read Post

SEC TO HOLD CONFERENCE CALL TO DISCUSS ENFORCEMENT VS JP MORGAN JP MORGAN TO PAY $153.6M TO SETTLE SEC CHARGES JP MORGAN TO SETTLE SEC CHARGES ON MISLEADING IN CDO ON HOUSING SEC CITES MISLEADING INVESTORS IN CDO TIED TO HOUSING MAR... Read Post