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Jamie Dimon Resigns From JP Morgan, Says ‘Put Bankers in Jail’ – Bankers are the Criminals

April 1, 2013 in ANON NeWs, Finance, Headline, Occupy, Politics, Update

JP Morgan - credit default swap options

JP Morgan – credit default swap options

Jamie Dimon, often cited as the most responsible head of a Wall Street investment bank, reigned as Chairman and CEO of JP Morgan Chase today.

In a blistering letter published this morning in Britian’s Financial News, Dimon says he is tired of working in the “bankrupt moral culture” of finance and called for a criminal investigation into wrongdoing at JP Morgan and other major investment banks.

“For too long I have been a witness to what I consider to be unethical and sometimes even illegal behavior at the highest levels of Wall Street,” the letter reads. “I thought that I could change the system from the inside. But over the past few years I have been proven wrong.” – Jaime Dimon

“Despite the concerted effort of myself and my closest staff, the recent losses at our Chief Investment Office and the global LIBOR scandal show that firms such as JP Morgan have simply become too big to manage.

“For that reason I am resigning from my posts as Chairman and Chief Executive Officer of JP Morgan Chase effective at noon EST today. And I urge global regulators to introduce new rules seeking to limit the size of scope of the largest international financial institutions.”

Starbuck’s Pequod

Long recognized as a less corrupt institution than competing banks such as Goldman Sachs and Barclays, JP Morgan has come under fire in recent months for a number of trading scandals. Most notably the bank lost over $6 billion on bad derivatives bets in the notorious London Whale fiasco.

But in his resignation letter Dimon did not limit his reasoning to recent events, explaining that he is disgusted by the behavior of investment banks during the financial crisis.

“Over four years has passed since the greatest financial collapse in the history of this nation,” Diamond recounts, “and still no one on Wall Street has been held accountable for the crimes which have been committed.

“Washington says they can’t find one single banker guilty of fraud. I can think of 15 people off the top of my head who should be behind bars.” - Jamie Dimon Read the rest of this entry →

Tags: Banks, Default Swaps, Economic Justice, Economy, Financial Collapse, Foreclosures, Jamie Dimon, JP Morgan, Mortgage Default, Mortgage Fraud, Occupy, Occupy Wall Street, Options, OWS, Trading, Wall Street No Comments »

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New Sanders Bill Would Break Up Big Banks

April 1, 2013 in ANON NeWs, Finance, Headline, Occupy, Politics, Video Perspective

‘If an institution is too big to fail, it is too big to exist’

U.S. Sen. Bernie Sanders (I-Vt.) said today he will introduce legislation to break up banks that have grown so big that the Justice Department has not pursued prosecutions for fear an indictment would harm the financial system.

The 10 largest banks in the United States are bigger now than before a taxpayer bailout following the 2008 financial crisis. At the time Congress, over Sanders’ objection, approved a $700 billion bank rescue because of concerns by some that the financial institutions were too big to fail. Another $16 trillion from the Federal Reserve propped up financial institutions.

Attorney General Eric H. Holder Jr. now says the Justice Department may not pursue criminal cases against big banks because filing charges could “have a negative impact on the national economy, perhaps even the world economy.”

“In other words,” Sanders said, “we have a situation now where Wall Street banks are not only too big to fail, they are too big to jail. That is unacceptable and that has got to change because America is based on a system of law and justice.” Read the rest of this entry →

Tags: Bail Out, Banks, Big Banks, corruption, Deceit, End the Fed, Jail the Banksters, Lies, Rico Law, Wall Street No Comments »

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“Failure of Epic Proportions”: Treasury Nominee Jack Lew’s Pro-Bank, Austerity, Deregulation Legacy

January 11, 2013 in ANON NeWs, Finance, Headline, Occupy, Politics, Video Perspective

democracynow.org

Former bank regulator William Black and Rolling Stone’s Matt Taibbi join us to dissect the career of Jack Lew, President Obama’s pick to replace Treasury Secretary Timothy Geither. Currently Obama’s chief of staff, Lew was an executive at Citigroup from 2006 to 2008 at the time of the financial crisis. He backed financial deregulation efforts while he headed the Office of Management and Budget under President Bill Clinton. During that time, Clinton enacted two key laws to deregulate Wall Street: the Financial Services Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000. Black, a white-collar criminologist and former senior financial regulator, is the author of “The Best Way to Rob a Bank Is to Own One.” A contributing editor for Rolling Stone magazine, Taibbi is the author of “Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History.”

Tags: Deregulation, Economic Collapse, Financial Meltdown, Matt Taibbi, Obama, Treasury, Wall Street, William Black No Comments »

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GLOBAL ELITES THROWN OUT OF ICELAND: Iceland Dismantles Corrupt Gov’t Then Arrests All Rothschild Bankers

June 26, 2012 in ANON NeWs, Finance, Headline, Occupy, Politics, Update, World News

freedumbnation.com

Since the 1900′s the vast majority of the American population has dreamed about saying “NO” to the Unconstitutional, corrupt, Rothschild/Rockefeller banking criminals, but no one has dared to do so. Why? If just half of our Nation, and the “1%”, who pay the majority of the taxes, just said NO MORE! Our Gov’t would literally change over night. Why is it so hard, for some people to understand, that by simply NOT giving your money, to large Corporations, who then send jobs, Intellectual Property, etc. offshore and promote anti-Constitutional rights…

You will accomplish more, than if you used violence. In other words… RESEARCH WHERE YOU ARE SENDING EVERY SINGLE PENNY!!! Is that so hard? The truth of the matter is… No other modern Nation on earth, except the Icelanders, have carried this out successfully. Not only have they been successful, at overthrowing the corrupt Gov’t, they’ve drafted a Constitution, that will stop this from happening ever again. That’s not the best part…

The best part, is that they have arrested ALL Rothschild/Rockefeller banking puppets, responsible for the Country’s economic Chaos and meltdown. What does all this have to do with? The answer… AGENDA 21. If you’re not educated, about Agenda 21, please watch these short videos now: http://www.freedumbnation.com/?p=1130

Last week 9 people were arrested in London and Reykjavik for their possible responsibility for Iceland’s financial collapse in 2008, a deep crisis which developed into an unprecedented public reaction that is changing the country’s direction.

It has been a revolution without weapons in Iceland, the country that hosts the world’s oldest democracy (since 930), and whose citizens have managed to effect change by going on demonstrations and banging pots and pans. Why have the rest of the Western countries not even heard about it? Read the rest of this entry →

Tags: Banking Fraud, Banks Fraud, collapse, Debt, Democracy, EU, Fraud, Global Banks, GlobalBankers, Iceland, IMF, International, Occupy, OWS, Ponzi Scheme, Rothschilds, SCAM, Wage Slavery, Wall Street, World Bank No Comments »

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Eurozone debt crisis: should investors prepare for a Greek exit?

May 27, 2012 in Finance, Politics, Update, World News

As the euro crisis sends the stock market tumbling, investment experts remain surprisingly upbeat about equities.

By Paul Farrow - telegraph.co.uk

Investors have been told that Greece leaving the euro will not be a disaster Photo: McWilliams

The chances of Greece exiting the euro intensified last week – so much so that EU leaders were warned to have contingency measures in place.

Such was the demand for safe-haven assets that investors rushed to snap up German bonds that paid a coupon of 0pc. That’s right, investors piled in to buy government bonds that will not deliver a return but are deemed among the eurozone’s safest assets.

Morgan Stanley, the investment bank, published a note on Friday to warn: “We think that the ramifications of a Greek exit are more serious than the market anticipates. While a euro zone break-up is not our base-case scenario, we raise our subjective probability to 35pc from 25pc, and reduce the timescale of this move to 12-18 months from five years.

“We believe that the most likely scenario for a divorce is a Greek exit preceded and followed by strong contagion. There are three main channels for contagion: the sovereign, the banking sector and the political situation. The countries most at risk of material contagion seem to be Italy, Spain, Ireland and Portugal.”

Brian Dennehy, a financial adviser, has already prepared his clients’ portfolios for the FTSE100 plunging to 4,000 by the end of the year. “Our clients have largely been de-risked for many months,” he said. “In practice, this means none tend to have more than 20pc in equities. Although there could be some good news if the FTSE hits these levels, if investors are unprepared the risk is that they panic into selling at precisely the wrong time.”

It has been a tortuous few days – headlines of Armageddon and the death of equities will have caused anxiety among investors. They will be asking themselves whether they should be preparing their portfolios for an exit too. Read the rest of this entry →

Tags: collapse, crisis, Economy, Employment, EU, Eurozone, Eurozone crisis, Global economy, Greece, United States, US, Wall Street No Comments »

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Police Attack Protesters and Journalists at Peacefull Nato Protest

May 26, 2012 in ANON NeWs, Headline, Occupy, Politics, Update, Video Perspective, World News

Published on May 26, 2012 by natoindymedia

At the Chicago NATO Summit, after the rally off Cermak and Michigan, May 20th 2012. Police surrounded protesters and box off one group from the rest of the rally. Without any dispersal order, the police leading with batons and violence, started pressing thousands of protesters through a narrow exit. Towards the end of the video a independant journalist is attacked after filming police violence, his camera broken in the incident.

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Tags: #NoNato, #protestnato, 2012 NATO Summit, Abc, Bbc, Bbc News, Breaking, Breaking News, ChicagoIndy Media, Cops, Daily, Fox, Fox News, Gonzo, Independent, Journalism, Military Combatant, Movement, Msnbc, NATO, Nbc, News, Occupy, OWS, Police Brutality, protest, Protests, Reporter, Television, TwinCities, Wall Street No Comments »

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Busted for Busting Out at Bank of America

March 14, 2012 in Finance, Headline, Occupy, Politics

nationofchange.org

“Stripping Protestors In Pink Bras Crashed Bank Of America CEO Brian Moynihan’s Speech,” declared Business Insider on March 8, showing Moynihan’s stern photo with a pink bra playfully dangling in the air beside him.

It’s true, things did get a bit wild at Citi’s Financial Services conference at New York’s Waldorf Astoria when Brian Moynihan got on stage and began flipping through his tedious powerpoint.

While the hotel security was busy watching anti-bank protesters rallying outside, CODEPINK cofounder Jodie Evans, dressed in a hot pink bustier, burst into the conference room. “Bust up Bank of America before it busts up America”, she shouted, before being hauled out by security guards. “As I was saying,” continued a deadpan Moynihan to the laughter of the crowd, returning to the dreary slides that tried to put a rosy spin on this dinosaur of a company whose share price has plummeted while it continues to foreclose on families’ homes and faces tens of billions of dollars in damages from lawsuits over mortgage investments.

Little did Moynihan know that the excitement at what is normally a bankers’ snoozefest had just begun. CODEPINK codirector Rae Abileah and I were already seated in the front of the room. Wearing dark business suits, we did our best to blend into the crowd of stodgy white men in black business suits. Read the rest of this entry →

Tags: Bank of America, Banks, CODEPINK, collapse, crisis, Economy, Lies, Occupy, Occupy Wall Street, protest, Wall Street No Comments »

by roguemedia.org

3 Mega – Banks Screwing You With Sneaky Fees — Again

March 4, 2012 in Finance, Headline

In recent years, the U.S. government has imposed important new regulations on big Wall Street banks — rules designed to keep banks from preying on consumers. But ironically, the mega-banks have responded to those regulations in a decidedly anti-consumer manner, with a relentless campaign to impose unfair new fees on the very consumers the regulations were designed to protect.

For years, big shiny banks like Chase and Bank of America were where you went to get “no fee,” “no hassle” checking accounts. We all got so used to seeing ads touting free checking accounts that many of us just came to accept free checking as the norm. At the same time, many of us have had our checking accounts with the same big bank (and/or the big bank that bought out our original bank) for years, giving some of us the impression that we’re still getting the same great deal as when we signed up.

But think about it for a second: How many advertisements for “free checking” have you heard in recent months? Probably not very many, because free checking is no longer standard at big banks. Quietly, banks have ratcheted up the fees associated with their accounts, and now, according to research firm Moebs Services, virtually all of the big banks have stopped offering free checking accounts. At the same time, the banks have increased fees for everything from lost debit card replacements to account minimums and even the “privilege” of speaking to a bank teller — fees that often disproportionately affect poor consumers who may have less flexible schedules and a harder time maintaining account minimums. Read the rest of this entry →

Tags: Banks, crisis, Economy, Lies, Wall Street No Comments »

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Foreclosure Fraudulent–Why are Bankers Still Getting Away with Crimes?

March 3, 2012 in Finance, Headline, Occupy, Politics

By Kai Wright

Someone broke the financial system, and evidence that the break was willful is now piled as high as banking execs’ bonuses.

An old Eddie Murphy bit, made famous in his raunchy 1980s album “Raw,” tells you all you need to know about the foreclosure crisis. In the bit, a cheating husband has been caught in the act by his wife. “It wasn’t me,” he protests. “But I

Last week, five of the nation’s largest banks and 49 of its attorneys general announced a $26 billion settlement that essentially let the banks off the hook for the widespread use of fraudulent documents in the foreclosure process. Thursday, the San Francisco County assessor released an audit suggesting that many, many more demonstrable crimes were committed during the foreclosure bust of the past few years. My use of passive tense is not accidental; the audit doesn’t name names, though it’s long past time we start doing so. Read the rest of this entry →

Tags: Bailout, Banks, Foreclosure, Fraud, Occupy, Occupy Homes, Occupy Our Homes, Occupy Wall Street, Wall Street No Comments »

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Barack Obama Waives Rule Allowing Indefinite Military Detention Of Americans

March 2, 2012 in Headline, Occupy, Politics, Update

WASHINGTON — The White House released rules Tuesday evening waiving the most controversial piece of the new military detention law, and exempting U.S. citizens, as well as other broad categories of suspected terrorists.

Indefinite military detention of Americans and others was granted in the defense authorization bill President Barack Obama signed just before Christmas, sparking a storm of anger from civil libertarians on the left and right.

The new rules — which deal with Section 1022 of the law — are aimed at soothing many of their gravest concerns, an administration official said. Those concerns are led by the possibility that a law that grants the president authority to jail Americans without trial in Guantanamo Bay based on secret evidence could easily be abused. Read the rest of this entry →

Tags: campaign, Election, Finance, Indefinite Detention, Indefinite Detention Bill, Indefinite Military Detention, National Defense Authorization Act, NDAA, Obama, Obama Indefinite Detention, Patriot Act, Politics, Politics News, President Obama Indefinite Detention, Romney, Terrorism, Video, Wall Street No Comments »

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How Greece could take down Wall Street

February 23, 2012 in Finance, Headline, World News

In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15: “Financial market cynics have assumed all along that Dodd-Frank did not end ‘too big to fail’ but instead created a charmed circle of protected banks labeled ‘systemically important’ that will not be allowed to fail, no matter how badly they behave.”

That may be, but there is one bit of bad behavior that Uncle Sam himself does not have the funds to underwrite: the $32 trillion market in credit default swaps (CDS). Thirty-two trillion dollars is more than twice the U.S. GDP and more than twice the national debt.

CDS are a form of derivative taken out by investors as insurance against default. According to the comptroller of the currency, nearly 95% of the banking industry’s total exposure to derivatives contracts is held by the nation’s five largest banks: JPMorgan Chase, Citigroup, Bank of America, HSBC, and Goldman Sachs. The CDS market is unregulated, and there is no requirement that the “insurer” actually have the funds to pay up. CDS are more like bets, and a massive loss at the casino could bring the house down. Read the rest of this entry →

Tags: crisis, Economy, Employment, EU, Eurozone crisis, Global economy, Greece, United States, US, Wall Street No Comments »

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Romney uses similar financial strategy of “Drug-traffickers, mobsters, smugglers and swindlers”

February 13, 2012 in Editorial, Headline, Politics

by Logan Churchwell

Go ahead, read the headline again. Mine is almost as bizarre as the original Associated Press piece, titled “How is Romney like 007? Both have money offshore.” Giving us yet another example of the AP’s “New Distinctiveness” in reporting, readers are offered a six-step tutorial on how to hide your money from the Feds. Clearly the intent of this article is to imply that that’s what GOP frontrunner Mitt Romney has done, but the AP doesn’t actually accuse Gov. Romney of any untoward financial activity, right? Read the lead sentence closely (emphasis added):

“Movie super spies James Bond and Jason Bourne use them. So does real-life U.S. presidential candidate Mitt Romney, who ‘says‘ he pays his taxes, and untold numbers of Americans who don’t.”

Read the rest of this entry →

Tags: campaign, Election, Finance, Politics, Romney, Wall Street No Comments »

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Wall Street on Track for Record Political Spending in Attempt to Defeat Obama

February 13, 2012 in Finance, Headline, Occupy, Politics

by: Josh Israel

With Wall Street profits and bonuses falling and big banks cutting jobs right and left, it seems that the financial services sector would be scaling back its free-spending ways.

But, according to a Center for Responsive Politics analysis, they likely to set records in 2012 on political spending — the bulk of which is aimed at defeating President Barack Obama and electing Republicans opposed to the Dodd-Frank financial regulations enacted to address the sector’s 2008 meltdown.

It seems Wall Street has had its feelings hurt by the Obama administration’s increasingly vocal support for policies that benefit the other 99 percent, and as a result, the financial industry is giving heavily to Republicans and, in particular, former Massachusetts Gov. Mitt Romney (R). Politico reports:

Despite a large overall fundraising advantage, Obama has raised just $5.1 million from the finance, insurance and real estate sectors so far this cycle compared with $12.4 million for Mitt Romney’s campaign, according to Sheila Krumholz, executive director of [the Center for Responsive Politics]. [...]

Read the rest of this entry →

Tags: campaign, Election, Finance, Obama, Politics, Romney, Wall Street No Comments »

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My Journey from Iraq to Working on Wall Street to Occupy Wall Street

February 12, 2012 in Editorial, Headline, Occupy, Politics, World News

By Derek McGee

Photo Credit: edenpictures on Flickr

In late September 2001, I was living in a tent in Lower Manhattan with the 2nd Battalion, 25th Marines, a reserve unit just outside the city. We were occupying Battery Park, which at the time served as the National Guard’s headquarters. “Guarding the guard,” we called it.

The two weeks I spent there were profoundly affecting. There I was, at the center of the world, watching America at its finest, showing at once nearly impossible perseverance and limitless compassion. Generosity sprouted everywhere throughout New York City; people gave out food, shoe inserts, massages, coffee, flowers, hugs, kind words and anything you needed. I told someone I liked Red Bull, and hours later he came to my tent, dragging a handcart with eight cases of the stuff. I would slip one under each of the other marines’ pillows while they slept, and when we woke up for guard duty I would say the Red Bull fairy had come.

Exploring the city on my one afternoon off, I stumbled upon the Wall Street Bull. The smooth metal sculpture is stunning, always on the verge of some wild movement—a lunge or a charge, at the least, a bellow with a head toss. Too tarnished to be gold, too big to be a calf, it’s revered nonetheless. I would come fairly close to worshiping it myself years later. But for now, I just had my picture taken on top of it. From where I stood, the whole world seemed to feel empathy. It was one of the only times in my life that I felt like I was exactly where I needed to be.

Another time was when I was living under a bridge along the Euphrates River. A nearly ceaseless convoy rolled overhead. I wasn’t particularly keen on the invasion of Iraq, but if we had to have one, I knew I needed to be there with my fellow marines. A Subaru filled with reporters pulled up and offered us cigarettes to hasten our search of their car. “They’re just outside Baghdad,” they told us. The whole world is watching, I thought.

Read the rest of this entry →

Tags: Banks, collapse, crisis, Economy, Lies, Occupy, Occupy Wall Street, Wall Street No Comments »

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Banks Walk, Dept. of Justice Makes Excuses

February 9, 2012 in Uncategorized

By the end of the S&L crisis, vast financial fraud had devastated the real estate market, contributed to the early-90′s recession, and banks have cost the US taxpayer $124 billion. Bad as this was, at least a reckoning was made: thousands of bank executives were prosecuted, and more than 1,000 went to jail.

This time around, vast financial fraud has wrecked the entire world’s economy, put millions of people out of work, and cost trillions of dollars. And how many banks execs have gone to jail?

Gee, why not? The Wall Street Journal today lists the ~~excuses~~ explanations:

Since the financial crisis erupted in 2008, many legal experts have said the U.S. government faced an uphill battle in prosecuting financial-industry executives. Criminal intent is especially hard to prove in complex financial cases, because prosecutors must convince jurors, beyond a reasonable doubt, that a fraud was intentional.

Some financial executives have said it is unfair to punish them for what is nothing more than their failure to predict the financial crisis. Many legal experts have said much of the most controversial behavior likely was a product of poor judgment, not criminal wrongdoing.

Uh-huh. But maybe there’s a simpler explanation, maybe banks aren’t all bad…:

Read the rest of this entry →

Tags: Banks, collapse, crisis, Economy, Lies, Occupy Wall Street, Wall Street No Comments »

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Corporations Have No Use for Borders

February 1, 2012 in Editorial, Finance, Headline, Occupy, Politics, World News

By Chris Hedges - taken from truthdig.com

A police officer holds a tear gas launcher at the ready during a standoff with protesters at the G-20 Summit in Toronto in June 2010.

What happened to Canada? It used to be the country we would flee to if life in the United States became unpalatable. No nuclear weapons. No huge military-industrial complex. Universal health care. Funding for the arts. A good record on the environment.

But that was the old Canada. I was in Montreal on Friday and Saturday and saw the familiar and disturbing tentacles of the security and surveillance state. Canada has withdrawn from the Kyoto Accords so it can dig up the Alberta tar sands in an orgy of environmental degradation. It carried out the largest mass arrests of demonstrators in Canadian history at 2010’s G-8 and G-20 meetings, rounding up more than 1,000 people. It sends undercover police into indigenous communities and activist groups and is handing out stiff prison terms to dissenters. And Canada’s Prime Minister Stephen Harper is a diminished version of George W. Bush. He champions the rabid right wing in Israel, bows to the whims of global financiers and is a Christian fundamentalist.

The voices of dissent sound like our own. And the forms of persecution are familiar. This is not an accident. We are fighting the same corporate leviathan.

Read the rest of this entry →

Tags: barack obama, bush, canada, chris hedges, environment, government, health care, Israel, keystone xl, keystone xl pipeline, military, montreal, Obama, Occupy Wall Street, toronto, Wall Street No Comments »

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Has Occupy Forgotten Why?

January 31, 2012 in Editorial, Headline, Occupy

By Gilbert Mercier and Liam Fox - Taken from http://newsjunkiepost.com/

Even though the revolution / occupy in Egypt is still at an uncertain, fluid stage, they’ve already made an irreversible geopolitical impact in the Middle-East, and beyond. If 9/11/2001 marked the start of a dark chapter in world history, 2/11/2011 may have been the beginning of a new era of positive global systemic changes challenging a worldwide unsustainable course of development.

Its progeny, the Occupy movement in America, is only four months old. Taking root in the labor uprising in Madison, Wisconsin, the movement has spread across the country. Occupy camps have sprung up one after the other, and, one after the other, have been struck down by the authorities. The 99 percent are struggling to gain a foothold, but, so far, they’ve achieved little more than providing new slogans to be exploited by political campaigns and establishment activists. Read the rest of this entry →

Tags: 1%, 99%, Economy, Egypt, Equality, Globalists, Madison, Occupy, OWS, Rights, Wall Street No Comments »