For a very long time, I’ve pointed out that the little fish get charged with crimes while the big fish get away. Drum roll please…we have another example in the House That Jamie Dimon Rules, JPMorgan Chase.

You remember the so-called “big whale”, the trader who made gargantuan bets that cost the company $6 billion. No, he’s not at risk of going to the slammer. It’s a smaller fish:

Government authorities are planning to arrest two former JP Morgan Chase employees suspected of masking the size of a multibillion-dollar trading loss, a dramatic turn in a case that tarnished the reputation of the nation’s biggest bank and spotlighted the perils of Wall Street risk-taking.

The former employees, who worked in London, could be arrested in the coming days, according to people briefed on the matter. The action, the people said, would involve criminal fraud charges.

The employees — Javier Martin-Artajo, a manager who oversaw the trading strategy, and Julien Grout, a low-level trader in London — could ultimately be extradited under an agreement with British authorities. Yet the people briefed on the matter, who spoke on the condition of anonymity, cautioned that it is unclear whether British authorities will be able to locate the men, who are natives of other European countries. [emphasis added]

This is a ludicrous point:

The plan to arrest the traders hints at an aggressive new stance from the government, which has come under fire for prosecuting only a few Wall Street employees tied to the 2008 financial crisis. Taking aim at employees of a Wall Street giant like JPMorgan, even when they fall below the executive ranks, could send a warning shot across the financial industry. [emphasis added of the ludicrous point]

Oh, yeah, I’m sure they are shaking in their boots, especially Jamie Dimon. It’s truly amazing Dimon has a job — though not amazing if you consider the vast wealth destroyed in the GFC by the elite bankers in the, none of whom are sitting in jail and most of whom still have their jobs.