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.