Full Deposition of JPMorgan/WaMU Lawrence Nardi Part 1 - Just What Happened To All Those Wamu's Notes?

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Full Deposition of JPMorgan/WaMU Lawrence Nardi Part 1 – Just What Happened To All Those Wamu’s Notes?

Full Deposition of JPMorgan/WaMU Lawrence Nardi Part 1 – Just What Happened To All Those Wamu’s Notes?

excerpts:

16 Q (By Ms. Mack) Okay. Are you familiar with
17 the purchase and assumption agreement between the FDIC,
18 JPMorgan Chase and WAMU?
19 A I’ve seen it before. I’ve not memorized it.
20 But I’m aware it exists, and I’m generally familiar with
21 it.
22 Q Are you — do you know anything about the
23 accounting records as they’re defined in the purchase
24 and assumption agreement between FDIC, JPMorgan Chase
25 and Washington Mutual?

1 A No.
2 Q And do you know anything about the loss-share
3 agreement, specifically the calculation of losses and
4 how they are shared with the FDIC?
5 A No.
6 Q Okay. Who in the bank would have that
7 knowledge?
8 A I don’t know of a specific name. It sounds
9 like the items that you’re looking for encompass more
10 than just the mortgage banking portion. It probably
11 encompasses all of the bank’s losses in the loss
12 sharing, so I — you know, it would likely be someone
13 quite a bit higher up the chain and, you know, probably
14 in a — in a much larger office than mine.
15 Q Okay.
16 A So I don’t know any specific names, but it
17 would be someone who’s in a control position in the
18 bank, I imagine.
19 Q Okay. The — are you aware of any type of
20 schedule of loans that would have been created to
21 represent the — either the loans that were asset loans
22 or the loans that were serviced by WAMU? Are you — was
23 the — do you know if there is a schedule or database of
24 loans like that?
25 MS. CREWS: Object to form.

[…]

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One Response to “Full Deposition of JPMorgan/WaMU Lawrence Nardi Part 1 – Just What Happened To All Those Wamu’s Notes?”

  1. Sarah says:

    What better way to hide or obscure possible fraud, than the use of powerful information technology? Tools for efficiency and productivity (or trading) can just as easily be misused, especially if no one bothers to look or understand, especially those who are supposed to be looking.

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