Citigroup, Bank of America and JPMorgan Chase are joining forces to create a fund that will buy the debt from their mortgage-backed securities. The new group, assembled at the urging of the benevolent and mysterious Dr. Treasury Department, call themselves The Super Bank Friends. Their undying quest: fighting together to prevent the credit market from collapsing and creating a rift in the space-time continuum that would transport America back to 1929.
3 Major Banks Start Fund To Shore Up Credit Market
By consumerist.com October 15, 2007
- time to pay up Goldman Sachs To Pay $5B To Settle Charges Of Selling Troubled Mortgages Ahead Of The Financial Crisis
- that's a lot of revenue Banks Turned Account Overdraft Fees Into $11.16B In Revenue Last Year
- Changing Policies Chase Customers Can No Longer Use Credit Cards As Backup Funding For Overdrafts
- full disclosure JPMorgan Chase To Pay $367 Million For Secretly Steering Clients To Investments That Benefited Bank
- putting the f in foreclosure JPMorgan Chase Fined $48 Million For Failing To Comply With Robosigning Settlement