And then there is this

The Obama Administration is trying to help homeowners with a new plan to get banks to lower the principals on home mortgages to help stem the tide of foreclosures. JP Morgan is fighting this concept by citing the sanctity of contracts and the borrower's "promise to repay."

In January, the firm's chairman and chief executive, Jamie Dimon, told the panel investigating the roots of the financial crisis that, prior to the collapse, JPMorgan Chase did not conduct any stress tests that showed house prices falling.

"I would say that was probably one of the big misses," Dimon said. "We stressed almost everything else, but we didn't see home prices going down 40 percent."

So the firm made loans, arguably not knowing that the value of the assets backing those loans might one day significantly decline in value.

These idiots fucked up. There is no other way to put it but god forbid they should do anything to help homeowners in danger of losing their homes.