Allegations of JP Morgan’s use of clever tactics to bribe Chinese officials recently received mainstream attention when Salon journalist Alex Pareene mentioned it in a comical and classic interview on CNBC (you need to watch the video before reading this) with presstitute Maria Bartiromo. When Mr.Pareene mentioned these claims against the TBTF bank, CNBC mocked him for the fact that his information had come from the New York Times. Well it appears the paper has now given CNBC a taste of its own medicine; with some actual real reporting, something the clownish financial-tv channel drowning in a zero ratings death spiral doesn’t seem all that interested in doing.
This article from the New York Times details how JP Morgan paid $75,000 a month to an obscure consulting firm called Fullmark Consultants, which had only two employees. The firm was run by a woman named Lily Chang, which in reality was the alias used by Wen Jiabao’s only daughter Wen Ruchun. Wen Jiabao was the Prime Minister of China at the time.
Unsurprisingly, many lucrative deals followed for the JP Morgan in China. How about we #AskJPM about that.
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1 comment:
Nothing will happen to anyone. Congress protects them and the free flow of "campaign contributions". Congress also made all the laws protecting themselves from indictment, too. Even though "your guy" voted for all this crap, I'm sure that your new guy is going to change things, which is like letting a new felon run the local bank. And expecting no thefts, embezzlement, payoffs, kickbacks, bribes, and back room 'deals'. Keep cheering.
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