"[Home-equity loans were] meant to help people do construction on their house, [and] do debt consolidation -- not to take out every last dollar of equity in their home to finance a different kind of lifestyle," [Charles Scharf, head of J.P. Morgan's retail business] said. J.P. Morgan is "rolling our changes back to represent that kind of product."Really, you'd think he could have mentioned this earlier.
Wednesday, March 12, 2008
Closing the barn door
JP Morgan Chase is shocked -- shocked! -- to learn that there's been gambling in this establishment.
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