"[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
JP Morgan Chase is shocked -- shocked! -- to learn that there's been gambling in this establishment.