Relevant:
- Jamie Dimon Admits Mortgages Are An "Unmitigated Disaster"
- Lehman May Report $4 Billion Writedown, JPMorgan Says
- SEC Tells JP Morgan Enforcement Action Coming over Bear's Mortgage Backed Securities Violations
- JPMorgan Chase May Face Enforcement Action, Added Costs in Mortgage Probe
- JP Morgan's $6 billion Bear Stearns reserve proving to be too low so far
2011-07-15 — bloomberg.com
"Mortgage losses and litigation costs continue to weigh on JPMorgan's earnings. The company, the second-largest U.S. bank by assets, added $1.27 billion to its litigation reserves, mostly for mortgage-related issues, and took a $1 billion charge in the second quarter to clean up some of its outstanding foreclosure matters."
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