Friday, August 9, 2013

Discovery News on the psychology of rich people plus a financial crime story

Near the end of Hot topic: Climate change will lead to more violence plus Sunday night crime stories I mentioned non-violent financial and corporate crimes and concluded the entry by saying that "I have a video by Discovery News that bears on the topic of 'White Collar crime,' but I plan on saving it for later."  It's later.

Here's Laci Green of Discovery News Do Rich People Cheat More?

Turns out money DOES change a person--and not for the better. Looking at the results of a new study, Laci explains just how awful people can be when they've got cash-filled pockets.
So, what prompted me to share this video today?  Last night, I compiled more stories from Reuters for Overnight News Digest: Friday Morning Fill-in Edition on Daily Kos and included yet another story about financial misdeeds, which reminded me of my programming note from earlier this week.  I couldn't resist making the connection.

Exclusive: U.S. steps up probe of JPMorgan over Bear mortgage bonds
By Emily Flitter, Karen Freifeld and David Henry
Thu Aug 8, 2013 3:47pm EDT
(Reuters) - The U.S. Department of Justice has stepped up a probe in recent weeks into Bear Stearns & Co's mortgage dealings in the run-up to the financial crisis, according to two sources familiar with the situation, raising the possibility that JPMorgan Chase & Co may face yet another case over mortgage bonds.

Justice Department lawyers in Washington have been interviewing people linked to Bear Stearns' mortgage securitization business, EMC Mortgage Corp, over sales of mortgage bonds going into the housing crisis, the sources said.

JPMorgan bought Bear Stearns during the financial crisis in 2008.
About time.

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