JPMorgan Internal Emails Exposed

    NEW YORK, NY - OCTOBER 02:  People pass a sign for JPMorgan Chase & Co. at it's headquarters in Manhattan on October 2, 2012 in New York City. New York Attorney General Eric Schneiderman has filed a civil lawsuit against JPMorgan Chase alleging widespread fraud in the way that mortgages were packaged and sold to investors in the days that lead-up to the financial crisis. The allegations, which were filed in New York State Supreme Court, concern business that transpired during 2006 and 2007 at a now-defunct Bear Stearns, the failed Wall Street firm which was purchased in 2008 by JPMorgan Chase.  (Photo by Spencer Platt/Getty Images)

    JPMorgan Chase & Co. headquarters in Manhattan. (Spencer Platt/Getty)

    The truth always finds a way out. When an independent analysis of JPMorgan Chase exposed “serious flaws” in the company’s home loans, it did what Wall Street does best: hid the evidence. In documents released this week, officials found proof that the company “adjusted” the critical reviews it received by buying and selling a new set of home-loan portfolios—creating a “sanitized” pool of data in the process. The move allowed the financial powerhouse to gloss over serious faults in its loans and sell mortgages that appeared healthy to the consumer. The suit, which includes a “trove of internal emails and employee interviews,” may be an important stepping stone in the Federal Housing Finance Agency’s landmark $200 billion case.

    Read it at The New York Times