Friday, March 29, 2013

Federal Investigators are trying to put Jaime Dimon, Chief of the Crooked Bank,  JP Morgan Chase in Jail and at the Same Time They Will Try to break up the Bank!!
It’s about time that Wall Street starts paying the price for what they have done to those of us living on Main Street!!
Let’s talk about how federal investigators, Senators, and the American People have pushed this administration to place Jaime Dimon and JP Morgan in Jail.  This is really a testimony to the federal agencies and legislators who labored for months over thousands of pages to bring justice to Wall Street.
  Now let’s start off by enumerating who is doing what to whom.
[1] Federal Prosecutors of the DOJ [thanks! you guys have brains and courage] are examining whether JPM failed to fully alert authorities to clear suspicions of ‘money laundering and ponzi schemes’ carried through and with Bernie Madoff and JPM / Jaime. 
[2] Federal Prosecutors; FBI [thanks Mueller]; Federal Deposit Insurance Corporation [FDIC—thanks again!], the Commodity Futures Trading Commission [Very important]; and the Security Exchange Commission [ SEC—Markedly improving];  Vance and NYC Fed Prosecutors are examining how much evidence that they can muster to effectively indict,  convict and jail Jaime, his immediate staff, JPM Board members and others at JPM, including the Illegal traders, and those who ‘resigned’ for CRIMINAL ACTIVITIES. 
[3] The aforementioned Federal agencies are working in concert [which is very impressive] in order to make Jaime and his consort banksters and board members directly culpable for lying to investors and regulators about the risky wagers that were ‘illegally’ made by the The Whale --- a one hundred BILLION DOLLAR TRADE WHERE SIX BILLION$ or MORE of TARP MONEY WAS LOST!!
[4] Thanks to Senator Carl Levin (D-Michigan) and his staff who poured over 90,000 pages of testimony and questioned the arrogant Jaime who considered the Fed's Investigation into his illegal banking activities a ‘tempest in a teapot’
I would also like to thank Sen John McCain [R-Arizona] whom I have criticized for his differing positions on the Iraq War, but when it comes to banking he had correctly warned Jaime and Eric Holder: "That no bank is too big to be prosecuted". 
In particular,  I happen to know that all of the JPM Lawyers in 2008 and later,  literally lied in courts all over the country about the mortgage notes and deeds which they did not own but claimed they owned because of the default of Washington Mutual Mortgage  and other companies which were sold to JPM for a pittance.   Also the American citizens gave unnecessary TARP money to Jaime and his ‘crooked cronies’ for ‘bank reserves’ .   Those reserves were used to give himself and others large undeserved bonuses. 
[6] Both state and federal courts are still examining the illegal robosigning instituted by JPM and Jaime to bypass the fact that they did not have the original copies of the deeds and mortgages of the houses, condos, and buildings on which they were foreclosing. 
[7] In 2011, Senator Levin and the FBI warned Jaime that he was for the eighth time in violation of banking law and engaged in ‘illegal financial activity’ when he personally refused to provide the aforementioned hard working Federal Regulators with the necessary and mandatory profit and loss statement reports required for Investment Banking. 
Sidebar:  When I was brought in as a Managing Director of Kidder Peabody to take it down for ‘illegal trading activities’,  I brought in the past Director of the SEC,  Gary Lynch who automatically arrested the ‘perpetrators’ of the  illegal non-existent ‘securitized mortgage’  and ‘non-existent trade’.  It took less time and effort.  The ‘culprits’ went to prison but the key man, Michael Carpenter, a boorish Brit of little wit,  substance, or manners,  was subsequently recruited by his ‘cronies’ at Citibank, Weill and Rubin.  He screwed up there, and went up the ladder a la Peter Principle to head up--- GMAC which as expected he destroyed ---until he was bailed out by the American taxpayer. 
[8] Jaime is not only incompetent, ‘criminal’ and arrogant but he had the audacity to insult FEDERAL REGULATORS,  who have been working on behalf of the American People to salvage their money, mortgages and homes----- HE CALLED THEM, “STUPID”!!!
I hope this shows that all is not lost in this wonderful republic we call America.  The system can work.   But it works when people like you and me and equally important, the mainstream and alternative media report on the illegal activities of Wall Street.
  In particular,  I personally want to thank that NY Times, and it’s Executive Editor Jill Abramson for her relentless coverage of this JPMorgan Scandal.   I would also like to thank all the young, enthusiastic reporters in the Huffington Post who provided me and others with instantaneous information about what was happening.  Also the Wall Street journal and particularly Rupert Murdoch who behind the scenes understood the banking travesty that was occurring in America.  Got to love the NY Post which in their inevitable sarcastic double- entendre way crucified Jaime and his Wall Street cronies. 
  Of course, I want to thank all of the Federal Regulators who have spent countless hours trying to bring Jaime down to the level where he and NOT they were the STUPID ONES!
Thanks America.  You restored my faith in the system. 


  1. I'll believe it when I see it... But if it happens, don't forget to thank Max Keiser as well - he's been calling for Jamie's head longer than anyone.

    1. Agreed!

      Dimon will never see a jumpsuit; he will get immunity and bring down Paulson & Rubin before he sees a cell.

      This is all a charade, a Kangaroo Court, a sham, put on pro forma display by Holder, who has the power to halt all investigations.

      if anyone should go to the pen, it is Holder, the White House Moat Guard.

      There will be civil lawsuits; but his $$$ like Corzine's (& Obama's) will be offshore in a Cayman Haven.

      Dimon managed the bank that acted as a $5.7 billion clearing house for Corzine, Obama's top fundraiser, who lied to Congress, stole billions from client's accounts, and to date, has been insulated from punishment; that is not to say that his reputation isn't in a sinkhole.

      But Corzine remains a very wealthy (and CORRUPT) man. OBAMA OWES DIMON AND CORZINE BIG TIME (QUID PRO QUO).

      "Dimon spent several years in Obama’s hometown of Chicago, where he ran Bank One after a nasty breakup with his one-time mentor. He got to know Rahm Emanuel. He hired Bill Daley as a top executive before Daley became Obama’s second chief of staff. He gave hundreds of thousands of dollars in contributions to Democrats....he made at least 16 trips to the White House and met at least three times with Obama ...The New York Times in 2009 called Dimon Obama’s “favorite banker.”... JP Morgan “is one of the best-managed banks there is” & Dimon “is one of the smartest bankers we’ve got,” Obama said (on ABC's "The View") the same day Dimon faced shareholders at JPMorgan’s annual meeting in Florida and hung onto his chairman of the board title during the biggest challenge of his tenure..."


      Obama is a chronic liar and WATER SEEKS ITS OWN LEVEL...BIRDS OF FEATHER FLOCK TOGETHER. (Peter Principle)

      Dr. P, as the song goes, YOU ARE A "COCKEYED OPTIMIST"!

    2. As for Carl Levin, he is a piece of SHIT!

      He submitted the NDAA Law to Obama without the insertion of holding American citizens indefinitely without charges and Obama refused to sign it until it was inserted. He amended it and returned it to Obama who signed it just before midnight on 12-31-11.

      Levin is retiring - a creep, dumbell and Jewish Embarrassment of the First Order: Those who forget the Past are Doomed to repeat it.

      Levin is a Traitor to America in every way.

    3. here is the Levin-Diane Feinstein (Lady MacBeth covert CIA asset)

      and here is the original bill one day earlier:

    4. Patriarch, you put the pieces of the puzzle together. I appreciate the citations you provide, documenting the basis for your opinion.


      Not a pretty picture I might add.

      But we have to look at it and examine it then expose it to hopefully get rid of it.

      Bending the arc of history is possible for the common man in association with his fellow man.

      At least that's how it's supposed to work in a constitutional, democratic republic.

      I still think, with all the corruptions & pathologies, America is humanity's best shot -- certainly, for us, Americans, it's what we got and we better make it work for us, the common man.

      It is this struggle to bend the arc of history where, as Lincoln wrote, "We shall nobly save, or meanly lose, the last best hope of earth."

  2. This article has a lot of necessary info:

    PAY ATTENTION to the explanation of what Dimon got carved out of the Volcker rule. The complete article has some sharp questions from a couple of senators that undercut Dimon's charm offensive on the Sunday TV shows.
    "It was a nice come-uppance, but Dimon continued to be shifty. He maintained that the bank was not operating as a hedge fund, that the overall portfolio in the Chief Investment Office was conservatively managed, with a small yield, and that only this one piece of the synthetic portfolio got out of hand. What he described, while a hedge to him, wasn’t a hedge at all, but a bet on a general tail risk, not a specific exposure or position. “Calling this a hedge allows them to speculate in financial derivatives, and no one in their right mind, given the illiquidity, would make this as a hedge,” Bill Black reacted. Saying that the whole portfolio is conservative is irrelevant.

    And if you can always call something a hedge after the fact, then a hedge exemption into the Volcker basically renders it meaningless. That’s the lesson of the Fail Whale trades. The supreme irony here is that JPMorgan was about to get away with this. They successfully lobbied for the hedge exemption in the Volcker rule, and had it granted, even though it would have allowed a trade like this that exacerbated a loss rather than mitigated it. “The reason Dimon is so furious is they were about to win,” Bill Black said. “And now that they’ve stepped in it, they might embarrass Treasury and the Fed into adopting a stronger rule.”"

    Now, watch Dr. Bill Black explain it some more on Democracy Now! or you can read the transcript.

    1. Thanks for the links, I will post on the forum for posterity, your contributions are most welcomed.

  3. I strongly recommend that anytime you see a Bill BLack interview on financial events, you watch him. He's clear-headed. He's moral. He's the country's leading white collar criminologist who can put the fraud in layman's terms. And he doesn't talk down to people who don't know what he does.

  4. Economic historian Michael Hudson:

  5. It's BERNIE!


    It's a broadway musical now in rehersal.

    See the pitiful little wunderkind everyone gave their hearts and dollars to sink into a world of fraud and larcancy to save his reputation.

    "Hey, I didn't wanna do it!" Bernie sings in the opening act of this earstwhile tragedy of mythic proportions.

    See his trophy wife and kids all go down the road to pertition as lie after lie and trick after game pile on upon another to the inevitable CRASH.

    Ethos and pathos abound in this modern drama repleate with today's moral lessons and "hazards."

    "We aina lettun' nobody skate on dis one." the new President Obama declares.


    Rumour has it MANDY POTINKIN has been tapped to play Bernie, and Betty Buckley will portray his agonized spouse.

  6. I forgot to mention...

    "BERNIE!" will not open in Boston first, but is opening on 8th Ave. sometime to be announced.

    Stay tuned for further details...

  7. "The Great Deformation" by DAVID STOCKMAN

    is a searing look at Washington’s craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—enspecially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America’s private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few.

    Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights.

    By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair.

    Stockman’s analysis SKEWERS Keynesian spenders and GOP tax-cutters alike, showing how they converged to BLOAT THE WELFARE STATE, PERPETUATE THE MILITARY INDUSTRIAL COMPLEX, & DEPLETE THE REVENUE BASE--even as the Fed’s massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.

  8. audio interview:
    David Stockman:

    "...Most of the "too big to fail" institutions would have survived or been broken into smaller, more resilient, entities. For those that would have failed, smaller, more responsible banks would have stepped up to replace them - as happens as part of the natural course of a free market system...

    ...once you basically unplug the pricing mechanism of a capital market and make it entirely an administered rate by the Fed, you are going to cause all kinds of deformations as I call them, or mal-investments as some of the Austrians used to call them, that basically pollutes and corrupts the system. Look at the deposit rate right now, it is 50 basis points, maybe 40, for six months. As a result of that, probably $400-500 billion a year is being transferred as a fiscal maneuver by the Fed from savers to the banks. They are collecting the spread, they've then booked the profits, they've rebuilt their book net worth, and they paid back the TARP basically out of what was thieved from the savers of America...

    ... medicated market that is essentially very dangerous and is one of the many adverse consequences and deformations that result from the central-bank dominated, corrupt monetary system that has slowly built up ever since Nixon closed the gold window, but really as I say in my book, going back to 1933 in April when Roosevelt took all the private gold. So we are in a big dead-end trap, and they are digging deeper every time you get a new maneuver."

  9. David Stockman LOL!

    That turd?

    Who gives a shit what that loser has to say.

    He was an idiot in 1980 and he's an idiot now.

    Get real.

  10. ..."the plan to pull a Cyprus type grab here was already in the works.

    “A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland; and that the result will be to deliver clear title to the banks of depositor funds. ”

    ..."when you deposit money in a bank, it becomes the property of the bank and we become unsecured creditors of the bank! “..legally the bank owns the depositor’s funds as soon as they are put in the bank...we become unsecured creditors holding IOUs or promises to pay. But until now the bank has been obligated to pay the money back on demand in the form of cash.

    Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price?”

    The FDIC-Bank of England plan would supersede our FDIC coverage and we would be relegated to become a “shareholder” in the failing bank or its successor entity....due to risky investments could steal my funds and force me to accept stock in a company led by poor businessmen with an even poorer business record!"

    FDIC-Bank of England plan:

  11. I wish someone could just freeze all the illicit, plundered funds in Cyprus and show those fucking Russians who's boss!

    Russians are the scum of the earth, purely ruthless and criminal in the core of their being.

    I wouldn't go so far as the US Joint Chiefs and Curt LeMay did and call for their extermination in a nuclear war.

    I mean let's be civilized about this.