Perhaps Mr. Dimon should bust out his presidential cuff links again to remind Congress and regulators who’s the boss, as his bank JP Morgan is reportedly under investigation for money laundering.
The London Whale’s ICD9 debacle, now a money laundering scandal, can we throw in silver manipulation for a perfect Hat Trick of scandals for JPM in 2012?
JPMorgan Chase & Co’s compliance with U.S. anti-money laundering laws is being reviewed by a banking regulator, a source said, making the largest U.S. bank the latest target of a wide investigation of how banks prevent transactions involving drug money and sanctioned countries.
The Office of the Comptroller of the Currency, an independent branch within the Treasury Department, is examining JPMorgan’s systems that are designed to monitor and filter such transactions, said the source, who is familiar with the situation.
The exact scope of the inquiry and the size of potential liabilities for the bank could not be learned.
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Didn’t Bill Murphy from GATA stated that something was about to go down on the Morgue!!
With the election in full swing, QE 3 to infinity, the Middle East blowing up, potential war with China and Russia, the Petrodollar facing heavy challenges from China, the Euro, Spain, Greece, Italy, Portugal and Ireland all facing ruin, the British Bankers Associate without a care in the world about LIBOR, LIBOR off the radar now, scandals on top scandals, OJ’s glove inadmissable as evidence andTreyvon Martin’s still dead and no one’s convicted.
I seriously doubt if this cheese weasel SOB will get anything but a fine equivalent to .01% of the money he stole.
If JPM’s money laundering then the government wants it that way. If JPM manipulated silver the government wants it that way. If JPM commmitted fraud in LIBOR and the mortage market, the government wanted it way. If JPM has 600 billion in derivatives on its books, the government wants it that way. If JPM’s asset base is junk stacked on top of junk, the government wants it that way.
Moral of the story. JPM is the defacto financing arm of the USG and has been for 120 years.
Seems to me that it is time to lose both of these Institutions – They have had clear sailing for way too long, and the arrogance they display is astounding!
The US is a POLICE STATE and UNCLE SAM and JPM don’t need any outsiders i.e. -(the citizens of the US) interrupting the RAPE!
Wake Up America!
Could the perfect storm be brewing for silver?
JPM isn’t the only bank doing it, just the one getting caught. The current Wall Street mentality is to cheat, lie, and outright steal to get ahead. Fines are useless without jail terms because they are usually a tiny fraction of earned profits for committing the crime.
Yet, the sheeple are still asleep and they think that this is not such a big deal. I’m sure that if they do find out that JP Morgan is involved with money laundering during the investigation, the only thing that JP Morgan will receive as punishment is a small fees and they won’t be arrested.