Originally published on Fri October 12, 2012 3:08 pm
Hi! My name's Matt. I write about the financial industry for a site called Dealbreaker. Before that, I made a living as an investment banker, underwriting convertible bonds and other equity-linked securities and selling equity derivatives to corporate clients. (I know!)
New York's attorney general has sued JPMorgan Chase, alleging that a unit now owned by the banking giant fraudulently sold mortgage-backed securities in the run-up to the 2008 financial crisis.
The civil lawsuit filed Monday by state Attorney General Eric Schneiderman is the first to be brought by the RMBS Working Group – the task force formed by President Obama in January to pursue alleged wrongdoing at the time of the financial crisis.