“The Nine Billion Dollar Witness” from Matt Taibbi

By: Sunday November 9, 2014 4:00 pm

A few comments about the interview: One is that Matt obviously muzzled himself when Amy asked about why he left Pierre’s Place. One wonders if he (highly likely) had signed a confidentiality agreement and considers that Pierre’s legal team could tie him up in court forever after if he were to go public with anything; which might mean we’ll never hear his side of the story. But his Rolling Stone exposé The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare does mention Alayne Fleischmann’s agreement with Chase which she bravely, if nervously, skated by in the interview.

 

Whistleblower Details JPMorgan Mortgage Market Crimes, Justice Department Covering Them Up

By: Friday November 7, 2014 10:36 am

With the return of Matt Taibbi to Rolling Stone Magazine comes an amazing story about how the depraved crimes of JPMorgan Chase were covered up by Attorney General Eric Holder despite there being a whistleblower willing to testify. The whistleblower is Alayne Fleischmann, a former lawyer who worked for JPMorgan Chase overseeing mortgage securities. Fleischmann has been talking to federal regulators for years in hopes of seeing justice done for JPM’s role in causing the 2008 financial crisis by selling fraudulent mortgage securities.

Fleischmann details how those in charge of due diligence at the Too Big To Fail bank were slowly beaten down and ignored by senior managers after being told the financial products JPMorgan were selling were fraudulent. That executives at JPM knew, for a fact, that they were committing securities fraud in the mortgage market whose meltdown would lead to millions losing their homes and hundreds of billions of taxpayer dollars going to bail out Wall Street.

DOJ and Treasury Schooled by College Athletes

By: Saturday August 9, 2014 9:00 am

First it was former Northwestern University quarterback Kain Coulter and his football teammates taking a chunk out of the NCAA, and yesterday it was former UCLA basketball player Ed O’Bannon and 19 other former college players. They did what few thought possible in going after a Too Big to Challenge institution, and won.

You know, the president is a sports-loving guy. Imagine what would happen if he called the attention of the DOJ and Treasury to these college athletes: “This is how you go after Too Big To Challenge institutions.” . . .

FDL Book Salon Welcomes Bob Ivry, The Seven Sins of Wall Street: Big Banks, Their Washington Lackeys, and the Next Financial Crisis

By: Sunday March 23, 2014 1:58 pm

This book is an eye-opener, a wake-up call for those in Washington to get their heads out of Wall Street’s asses, a state unthinkable for most politicians. But, it’s also a wake-up call to us, to be ever more vigilant with every one of our financial dealings, because the worst is yet to come.

JPMorgan to Give Whiner Dimon a Raise

By: Friday January 24, 2014 12:04 pm

Whoever said crime doesn’t pay looks pretty stupid right about now. After closing out a year where the company was forced to put aside $20 billion for criminal fines, one of JPMorgan’s first acts in the new year is to give the chairman and CEO who presided over the criminality, Jamie Dimon, a 74% raise. That’s right, a 74% raise for running an epically criminal enterprise.

Jamie Dimon Whines Government Has Been Unfair to JPMorgan

By: Thursday January 23, 2014 12:20 pm

Not soon after JPMorgan Chase settled yet another case involved screwing homeowners, JPMorgan CEO Jamie Dimon decided to publicly lament his “unfair” treatment by the government. Dimon said that “I think a lot of it was unfair, but I’m not going to go into details” about a recent settlement with the Justice Department over a series of crimes that span from fraud in the mortgage market to helping Bernie Madoff run one of the biggest ponzi schemes in history.

Ryan-Murray Budget: Dimon ‘Thank You’, Pelosi ‘Embrace The Suck’

By: Friday December 13, 2013 6:42 am

The Ryan-Murray budget deal to restore profligate military spending and cut the pension system is not winning many supporters. But not everyone is displeased with the Ryan-Murray budget deal. Jamie Dimon, the CEO of JPMorgan said he sent an email to Ryan and Murray profusely thanking them and that the deal is a sign of good things to come.

Eric Holder’s Private Meeting With Jamie Dimon Under Scrutiny

By: Monday October 28, 2013 12:35 pm

Since when do subjects of an investigation get a private meeting with the Attorney General of the United States? Since that Attorney General is a former (and likely future) Wall Street lawyer. US AG Eric Holder decided to break protocol and have a personal one on one meeting with JPMorgan CEO Jamie Dimon. The meeting came amidst a Department of Justice investigation into JPMorgan and Dimon related to a slew of criminality the Too Big To Fail bank had engaged in prior to, during, and after the 2008 financial crisis.

When the Mafia Has Better Customer Service Than You Do, You’ve Got a Problem

By: Saturday October 5, 2013 9:00 am

If the banks ran their operations more like the Mafia, the world might be a nicer place. As it is, though, the banks seem to have no problem with their foreclosure subcontractors breaking into the wrong home, or making a little extra on the side while they’re there.

But imagine how the Mafia would handle a situation like this . . .

JPMorgan Pays Small Fine for Lying to Regulators and Manipulating Market

By: Thursday September 19, 2013 11:20 am

After lying to regulators, manipulating the market, and putting out fraudulent documents JPMorgan will pay a relatively small fine and move on. Because when the powerful repeatedly break the law the consequences are never very severe. If we stopped these Wall Street banksters from making criminal profits they might stop making criminal profits – then where would our economy be?

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