Friday, March 26, 2010
JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging
March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.
More evidence of Wall Street's criminality. The financial sector has become like a cancer on the economy. It needs to be shrunk dramatically. Many of these firms should be shut down. (At least Lehman's gone!)
And to think, Jamie Dimon has been considered a front runner for Treasury Secretary at times. Not surprising considering who's in there now!