‘JPMorgan Chase & Co. is being investigated by at least 11 state, federal and international enforcement bodies‘
JP Morgan currently has 11 governing agencies investigating it’s activities because the investment back believes (rightly from what we have seen) that they are currently above the law. Don’t expect anything more than a proverbial wrist slap from any of the open investigations.
The Morgue is like Leonardo Dicaprio in the movie “Catch Me If You Can.” The bank has amassed a laundry list of fraudulent activities that have burst onto the radars of numerous governmental agencies and into the public spotlight. Probably, we are looking at a similar outcome as in the movie. Instead of prosecutions, the bank, like Dicaprio’s character in the movie, will probably be merely asked to go to work for the Fed’s in some capacity to “pay off” their wrongdoings.
JPMorgan Chase & Co. is being investigated by at least 11 state, federal and international enforcement bodies. Officials in Singapore, Germany and Japan are among a list of agencies probing the largest U.S. bank and its trading errors, according to JP Morgan in a filing Thursday. The U.S. Justice Department, Congress, Securities and Exchange Commission and U.K. Financial Services Authority are all examining the bank, which could still lose $1.7 billion more on its credit derivatives portfolio, the company said.
“The firm expects heightened scrutiny by its regulators of its compliance with new and existing regulations,” the company said. Regulators will begin to bring “formal enforcement actions for violations of law rather than resolving those violations through informal supervisory processes.”
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JP Morgan owns the Fed and the regulators. Any “investigation” or “probe” is just for public consumption. Nothing will come of it. Lawsuits are just part of the cost of doing business. JP Morgan is currently dealing with 1000+ federal actions. What’s a few more?
Total Federal Litigation… JPMorgan 1,150 in 2010, 1,149 in 2009
Source: Public Access to Court Electronic Records (PACE) Read more: http://www.foxbusiness.com/markets/2011/01/18/sued-companies-america/#ixzz2369oacpd
This reminds me of Butch Cassidy and the Sundance Kid when pursued by the Pinkertons. That jump off the cliff was pretty good movie work. The dudes ended badly but it was in Bolivia. Is JPM being pursued by the Bolivians. They don’t take prisoners.
To bad “the Morg ” hasn’t screwed the Columbian Cowboy Cartel. Maybe Jamie would find more then a horses head in his crib. Now if we could only teach the cartel to take their drug cash and buy Silver coins and bars….we could kill 2 birds with one stone….Anyone have any connections with our Latin friends down South?
Although they are protected by the powers of The United States Government. Especially with it’s ugly twin brother Goldman (Ball) Sachs. It is only a matter of time, before this whole thing closes on them for good. Trying to keep this paper ponzi scheme going is outright laughable. I do hope our friends from GATA are right about the move this month in August. So far so good for this week. Every attempt to take it down especially this past Friday in Hawaii where Silver was down .33 cents at 3 am Hawaiian Time. Silver even was up as high as .18 cents that very day only to end up on the negative at -.01 cent. They can’t stop this train!!!
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