Inside these posts: Toxic assets

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JPMorgan suit says Lehman left it with ‘goat poo’

Lehman Brothers and Barclays deceived JPMorgan Chase & Co. with bad assets that the failed investment bank’s own employees dubbed “goat poo,” according to new court papers that escalate a legal battle between the financial firms.

JPMorgan filed new court claims in the case, contending that Lehman left it with $25 billion in unpaid loans secured by undesirable such as those left out of the sale to Barclays. Get the full story »