After what I viewed as a great performance by Jamie Dimon on Capitol Hill, is a new controversy brewing over an unpublished report on the condition of the municipal bond market as states and cities face huge future unfunded pension liabilities.
The problem may be that while the report was kept internal by the firm, at the same time JP Morgan was underwriting bonds from some of the same problem credits without disclosing the reports existence or the scope of the risks discussed within it.
Read the article at The Political Commentator here.
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