Ateneo Professor on Entrepreneurship
From FoxNews
NY State Attorney General Eric Schneidman filed a civil case vs. JP Morgan who took over Bear Stearns, on what he claims systematically keeping the public in the dark on mortgage backed securities which were sold to the public which were defective. (This would constitute a securities fraud, a criminal offense, but you can file criminal lawsuit vs corporation, unless officials/persons could be held criminally liable )
There would be more cases to follow.
However, it is doubted whether this would be correct decision, since the government had a hand in the sale of Bear Stearns to JP Morgan. The sins of Bear Stearns was forced by the government into the hand of JP Morgan?!! The US DOJ defended the decision by saying that illegal actions will not be tolerated.
Read more on FoxNews on NY State case vs. JP Morgan
Why am I blogging on this? What is the relation to entrepreneurship?
Is this affecting PHL entrepreneurs, or entrepreneurs elsewhere in the world
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