New York Fed Will Not Confirm or Deny that 5-Count Felon JPMorgan Chase Is Custodian of $2.4 Trillion of Its Securities

As the financial crisis of 2008 was ravaging century-old financial institutions on Wall Street and collapsing the U.S. economy, the central bank of the United States, the Federal Reserve, launched an effort to restore market liquidity by becoming the buyer of the toxic sludge flooding Wall Street in the form of Mortgage-Backed Securities (MBS).