Around May, reports surfaced that Washington was growing tired of JP Morgan.
The House of Dimon had grown unruly, said the New York Times, and regulators had warned the bank that it was in their sights.
Recently, those reports have started playing out in real time, and now that the onslaught is here, it is clear that no one thought it would be this bad.
In the last week, the regulatory siege on JPMorgan has been unlike anything the bank has experienced in recent memory. The Securities and Exchange Commission, the Department of Justice, several state Attorneys General, and the Federal Energy Regulatory Commission (FERC) all want a piece of the JP Morgan for various transgressions that it has allegedly committed in the years leading up to, and since the financial crisis.
And there could be more.
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4 comments:
Certainly took long enough.
Smoke & mirrors... $ will change hands and this will all go away.
They follow the new corporate mantra.....Do the crime as long as you can pay the fine. And thanks to bribes, er, uh, I mean "campaign contributions", the fine is always a LOT less than the profits from the crime. Wasn't it YOUR GUY that was going to change all this corruption stuff? those elections REALLY helped us this time, huh? Maybe the NEXT guy promising to "change things" will work out. If not, they at least hope you'll continue falling for the "EVERY VOTE COUNTS" propaganda. Get fired up!! USA!USA! USA!!
I don't see things changing a bit. JP Morgan will never seriously fine itself. Let me explain.
Ever wonder why the banks get fined $93 million for improperly foreclosing on billions of dollars in houses? Or how they get largely ignored for laundering drug money? How they are not only "too big to fail," but also "too big to jail?"
In 1933, the US went bankrupt. JP Morgan was one of the country's largest creditors.
These creditor banks used the situation to put the country in receivership. Congress abdicated the responsibility of issuing money to the Federal Reserve Bank, a private corporation that is owned by those large creditors mentioned earlier. So we've been undergoing a bankruptcy for 80 years.
At around the same time, the UNITED STATES GOVERNMENT appeared as a corporation. The IRS was established to extract money out of the people. Social Security was established as a registry of assets (yes, you are an asset to a bankruptcy in their world). The Trading with the Enemy Act appeared and was modified to name the American people as enemies of the state (ever wonder why everything requires a license, aka, permission to do something otherwise illegal?). Note that the bankruptcy was never legally discharged - it's still ongoing.
I believe that the endgame is for these banks to conquer the United States. For 80 years, they have been trashing our country. According to International Law, they have to either win a real election where the people choose their new government, or they have to conquer the territory via war. They declared war on the people, and one day will attempt to announce their victory to establish legitimacy. So they de-industrialize us, feed us unhealthy GMO, inject us with bad vaccines, put toxic flouride poisons in the water, and seek to take away our right to be armed. Their goal is to break the people before they use those 2 billion rounds of ammo that DHS bought.
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