Foreclosure Defense FloridaGeneral Information

JP MORGAN CHASE LOSES $3 BILLION (at least) OF YOUR MONEY!

chase-dimonThe monsters of finance are at it again….actually, they never stopped.   They just keep making their casino bets.   That’s all this is, it’s betting, its gambling.   Gambling is illegal and should be illegal, but for the banks, that’s precisely what they do…..with our money.
If they win, they shove the money in their pockets.   If they lose, they take the money out of our pockets. That’s Amerika today.
Apparently no one is willing to reign them in.
And while one side of the company is off making billion dollar bets (with my money) that go bad, the other side is sending teams of attorneys into court to pound and harass and wreak havoc, destruction and misery upon my clients. (likewise funded with taxpayer dollars)
My read of Jamie Dimon is that he may have committed securities fraud by pumping up his company’s stock and position just a few weeks ago, failing to disclose these losses, then making a forced announcement a few days later exposing these enormous losses.   Did he not know at the time that his London whale was beaching?
But like Corzine and Blankfeld and (insert immune white collar criminal name here), they will all walk free….
Dimon is the same arrogant bastard who has been on a media tour arguing that banks are being picked on and demanding less regulation….
I’m sure you’re right Jamie.
Meanwhile, we all continue to pick up their gambling tab.
MATT TAIBBI ON JP MORGAN CHASE
CHICAGO TRIBUNE
 

2 Comments

  • Concerned reader says:

    Too Big To Fail may be ending, see the remarks by FDIC Acting Chairman Martin J. Gruenberg to the Federal Reserve Bank of Chicago Bank Structure Conference; Chicago, IL delivered May 10, 2012
    https://www.fdic.gov/news/news/speeches/chairman/spmay1012.html
    “Today I would like to take the opportunity to discuss one of those challenging issues ““ the orderly resolution of systemically important financial institutions ( SIFIs). The Dodd-Frank Act provided important new authorities to the FDIC to resolve SIFIs. Prior to the recent crisis, the FDIC’s receivership authorities were limited to federally insured banks and thrift institutions. There was no authority to place the holding company or affiliates of an insured institution or any other non-bank financial company into an FDIC receivership to avoid systemic consequences. The lack of this authority severely constrained the ability of the government to resolve a SIFI.”
    Is this the end of Too Big To Fail?

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