2011-06-30kingworldnews.com

``So today of the trillion dollars or so in class action claims that were filed right after the crisis started, there's about $200 billion left that have survived motions to dismiss and other procedural efforts by the banks to knock this litigation out. JP Morgan has somewhere around $45 to $50 billion worth of current claims that look like they are going to go to trial... Now, if we settle at 50 cents on the dollar do the math, that becomes a very material hit not just for JP Morgan, but for all the top five, six banks that have home equity loan exposure that's been reflected in securities act claims or just primary mortgage backed securities that have fraud claims.... ''


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