2nd October 2012, 10:42 PM
X forces Y to save Z; then later X sues Y for crimes committed by Z
This is so unfair. 狗咬呂洞賓
Y is told by X to do a good deed for the sake of the country.
The bailout was taken in part to avoid a potential fire sale of nearly U.S. $210 billion of Bear Stearns' MBS and other assets, which could have caused further devaluation in similar securities across the banking system. Chairman of the Fed, Ben Bernanke, defended the bailout by stating that a Bear Stearns' bankruptcy would have affected the real economy and could have caused a "chaotic unwinding" of investments across the US markets.
Y obeys X, does a good deed to save the country and buys over Z.
Then years later, X sues Y for the crimes previously committed by Z, saying that since you now own Z, you are now responsible for their past crimes.
JP Morgan said: "The NYAG civil action relates to Bear Stearns, which we acquired over the course of a weekend at the behest of the US government. This complaint is entirely about historic conduct by that entity."
BBC News - JP Morgan sued over Bear Stearns mortgage securities
Last edited by ricohflex; 2nd October 2012 at 10:48 PM.