Posted on 19 November 2013. Tags: Bernie Madoff, Eric Holder, Financial Crisis, Jamie Dimon, JPMorgan Chase, Mortgage Crisis
If you were Jamie Dimon, or a sleazy banker of the same stripe, and you got the following deal, would you take it: make billions of dollars for your bank, which, in turn, rewards you personally making you a very, very wealthy man BUT, in the process, because of combination of incompetence, criminality and greed, you help destroy an entire economy and put millions of people out of work, for which your bank pays billions of dollars in fines BUT you get to keep your job and, despite all the crimes, you don’t spend a single night in jail nor do you take out a single dime from your own pocket because the system will protect you and instead hand the bill to essentially the very people you hurt, and you are dealing with a government with no spine or inclination to punish the responsible people at the top so don’t worry for a second…well, would you take that deal?
Of course you would.
And that, in a nutshell, is the upshot of the $13 billion sham fine Jamie Dimon cut with the Obama Administration.
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Posted in General Interest
Posted on 24 October 2013. Tags: Bernie Madoff, Jamie Dimon, JP Morgan Chase
It just hit me how we can make money off of Jamie Dimon — it’s a *weekly* crime show, or even a reality show. Because every day you wake up you’d have new material for the show. Seriously. Like today.
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Posted in General Interest
Posted on 14 March 2009. Tags: Alan Greenspan, Bailout, Bank of America, Banks, Bernie Madoff, Citibank, Financial Crisis, Greed, Mortgage, Robert Rubin
Oh, don’t get me wrong–Madoff will, and should, die in prison. But, there is a downside to all this obsession with Bernie Madoff–his crimes are miniscule compared to the legalized robbery that went on in Wall Street and devastated the lives of millions of people. And we can’t let the media circus around Madoff let […]
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Posted in General Interest
Posted on 14 March 2009. Tags: Alan Greenspan, Bailout, Bank of America, Banks, Bernie Madoff, Citibank, Financial Crisis, Greed, Mortgage, Robert Rubin
Oh, don’t get me wrong–Madoff will, and should, die in prison. But, there is a downside to all this obsession with Bernie Madoff–his crimes are miniscule compared to the legalized robbery that went on in Wall Street and devastated the lives of millions of people. And we can’t let the media circus around Madoff let […]
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Posted in General Interest
Posted on 28 February 2009. Tags: Allen Stanford, Andrew Cuomo, Bank of America, Bernie Madoff, Delphi, Friday Scandal Update, Kenneth Lewis, Northern Trust, Pensions
The last week has been filled with a whole raft of economic scandals that it’s hard to pick through the wreckage. But, I’ll try. First, a publishing note: last week, I posted the first Friday Scandal Update. I will maybe keep this up–and please suggest your own scandals–both here in the comments and, […]
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Posted in General Interest
