For the very first time since 2008, the New York Fed will not confirm or deny that JPMorgan Chase is the custodian of $2.4 Trillion of its securities = 2008 never ended

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TL:DR:

  • The Federal Reserve bought Mortgage-Backed Securities (MBS) after the 2008 financial crisis.

  • JPMorgan Chase was chosen to hold these MBS securities.

  • JPMorgan Chase has been charged with multiple criminal activities related to MBS.

  • Despite these charges, the New York Fed has not switched custodians.

  • The New York Fed has become less forthcoming about their relationship with JPMorgan Chase.

  • The authors call for a congressional investigation into this relationship.

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wallstreetonparade.com/2024/04/new-york-fed-will-not-confirm-or-deny-that-5-count-felon-jpmorgan-chase-is-custodian-of-2-4-trillion-of-its-securities/

h/t elp007

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