(Reuters – breaking news 30 Sept ’11) – JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors seeking to recover losses on $4.5 billion of soured mortgage debt, expanding the litigation targeting the two largest U.S. banks.

RBS (Royal Bank of Scotland) was holding £1.1 trillion in sub junk derivatives (see earlier interpretOr posts) in 2008. (Andrew Rawnsley, The End of the Party, Viking Penguin, 2010)

That’s £1,100,000,000,000.00 of other peoples’ money that was not worth ‘jack shit’.

The RBS CEO walked out of the catastrophe a very wealthy and excessively rewarded man.

Immediately following the 2008 collapse, there were suddenly 766 Ferraris listed for sale in London alone.

called to accOunt? Goldman Sachs CEO Lloyd Blank(cheque)fein hires top defense lawyer