JP Morgan Pays $2 Billion to Avoid Prosecution for Its Involvement In Madoff Ponzi Scheme JP Morgan: Ponzi Schemer Bernie Madoff has said all along that JP Morgan knew about – and knowingly profited from – his Ponzi schemes. So JP Morgan has agreed to pay the government $2 billion to avoid investigation and prosecution. While this may sound like a lot of money, it is spare sofa change for a big bank like JP Morgan. It’s not just the Madoff scheme. As shown below, the big banks – including JP Morgan – are manipulating virtually every market – both in the financial sector and the real economy – and breaking virtually every law on the books. Here are just some of the recent improprieties by big banks: Laundering money for terrorists (the HSBC employee who blew the whistle on the banks’ money laundering for terrorists and drug cartels says that the giant bank is still laundering money, saying: “The public needs to know that money is still being funneled through HSBC to directly buy guns and bullets to kill our soldiers …. Banks financing … terrorists affects every single American.” He also said: “It is disgusting that our banks are STILL financing terror on 9/11 2013“. And see this)
Tag: JP Morgan
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Big Banks Move Into Uranium Mining, Petroleum Products, Aluminum, Ownership and Operation Of Airports, Toll Roads, and Ports, and Electricity Top economists, financial experts and bankers say that the big banks are too large ……
Preface: Not all banks are criminal enterprises. The wrongdoing of a particular bank cannot be attributed to other banks without proof. But – as documented below – many of the biggest banks have engaged in unimaginably bad behavior. You Won’t Believe What They’ve Done … Here are just some of the improprieties by big banks: Funding the Nazis Laundering money for Terrorists Financing illegal arms deals, and funding the manufacture of cluster bombs (and see this and this) and other arms which are banned in most of the world Launching a coup against the President of the United States Handling money for rogue military operations Laundering money for drug cartels. See this, this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis) Engaging in mafia-style big-rigging fraud against local governments. See this, this and this Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here,here, here, here, here, here, here and here Manipulating gold prices … on a daily basis
JPMorgan Chase, the biggest US bank by assets, announced Friday that the trading loss from derivatives bets made by its Chief Investment Office (CIO) had reached $5.8 billion, nearly three times the amount the company…