JPMorgan to Pay $2 Billion for Role in Madoff Fraud

By: Tuesday January 7, 2014 8:14 am

Nothing says justice like giving people involved in one the biggest ponzi schemes in history a laughably small fine. JPMorgan will pay $2 billion for its criminal role in helping Bernie Madoff defraud charities and private investors of $65 billion. Oddly, it was this particular crime that put JPMorgan in jeopardy of finally facing the music in criminal court. But that was really just a dream.

 

The European Union Catches the Banks Holding Hands

By: Saturday December 14, 2013 2:38 pm

Early in the summer of 2012, Bob Diamond was an American banker with a talent for making numbers say what he wanted them to say. He was legit and was sitting in the catbird seat at Barclays Bank UK. He’d made $100 million over the previous six years.

A few weeks later, in early July, the world had flipped. Instead of sitting at his desk at Barclays Diamond was answering questions from a Parliamentary committee investigating LIBOR rate-fixing in 2008. A week after that he was out of work.

Why Are Gas Prices So High?

By: Sunday October 13, 2013 4:00 pm

So, my neighbor made this video about why gasoline prices are so high when demand is down and supply is up.   You should watch this.

You are not going to like the answer.

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?

JP Morgan Gave $500,000 To Group Promoting Cuts To Social Security And Medicare

By: Monday August 26, 2013 10:30 am

According to JP Morgan’s own financial disclosure the Too Big To Fail bank has decided to use its massive wealth and power to promote cuts to entitlement programs for current and future senior citizens. The group “Fix The Debt Coalition” received $500,00 from JP Morgan.

JPMorgan Pays $410 Million for Enron-Style Manipulation Of Energy Market

By: Monday August 5, 2013 8:30 am

It’s the same old song. JPMorgan Chase & Co. has been caught once again breaking the rules to snatch profits and will only have to pay a small portion of its loot to make it all go away. No criminal prosecutions and no reforms, just a speeding ticket on the bankster highway.

JP Morgan Accused of Manipulating Energy Markets, Wrist Slap Expected

By: Tuesday July 30, 2013 12:51 pm

Too Big To Fail Megabank JP Morgan Chase is back on the government’s radar. The bank has been under investigation numerous times after taking a bailout during the 2008 financial crisis – most notably for the London Whale trade – and is now under scrutiny for its trading activities in the energy market. The accusation comes ahead of a likely legal settlement between JP Morgan and the Federal Energy Regulatory Commission.

3 Things About the Trans-Pacific Partnership You Need to Know and Share

By: Thursday June 20, 2013 7:00 pm

The Obama administration is brokering a secret global deal that combines all of the worst elements of NAFTA and Citizens United, shoots them up with steroids, sprinkles in a speedball and codifies these principles into a trade agreement that is in fact much more than a trade agreement. The trade agreement is the Trojan horse to bore you and put you to sleep so that when you wake up a global corporate coup will be in place creating a parallel system of justice where three private attorneys would oversee a kangaroo court set up to defend corporate interests that the laws all countries signing on to what is known as the Trans-Pacific Partnership would be subservient to.

Jamie Dimon “That’s Why I’m Richer Than You”

By: Thursday February 28, 2013 10:30 am

Oh how much class the ruling class have. On a conference call with investors and analysts JP Morgan CEO Jamie Dimon displayed the kind of wit and grace one could only expect from the truly refined – not only agreeing to answer a mere peasant’s question but offering illumination into his heavenly projection into the boundless stratosphere of plutocracy.

Banks Win Delay On Derivatives Rule

By: Friday January 4, 2013 1:38 pm

In what is becoming a trend, the Wall Street banks have been able to once again dodge Dodd-Frank, at least for now.

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