Mortgage Securitization 550: The Ultimate Insider Game - Observations about what happened - a time line of actions and speculation about motivation.Unpublished (2012)
AbstractThis is the story of Chase1, the venerable old line bank, and how it used its dominant market influence in the decade leading up to 2012 to originate and acquire mortgage loans, how it forced individual homeowners to pay high rates, and how it ultimately began to steal the home equity away from hard-working homeowners and their families. It is also the story about how the largest US banks combined their anti-competitive behavior and took from residents in all States. As illustrated by the chain of events described below for a situation in Connecticut, Chase's attitude and actions never reflect that behavior associated with the responsibility and “public trust” that is a pre-condition for the receipt of the banking charter that allows it to serve customers in a State. This conclusion, of course, is an opinion that will ultimately have to be decided by the Courts.
- Banker Insider game,
- use of private information,
- price gouging
Publication DateJune, 2012
Citation InformationSymphony Music. "Mortgage Securitization 550: The Ultimate Insider Game - Observations about what happened - a time line of actions and speculation about motivation." Unpublished (2012)
Available at: http://works.bepress.com/symphonymusic/4/