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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