US in sweetheart deal with JPMorgan over complicity in Madoff Ponzi scheme
By Barry Grey
17 December 2013
The Obama administration is preparing once again to shield JPMorgan Chase and its CEO, Jamie Dimon, from criminal prosecution for their illegal activities, this time in connection with the $20 billion Ponzi scheme operated by Bernard Madoff.
OBAMA and
his bankster J P MORGAN LOOT AMERICA
It’s corporate welfare and regulatory
robbery—it’s Obamanomics.
In reality, the settlement falls far short of holding
JPMorgan accountable for its fraudulent sale of mortgage-backed assets, which
netted the bank tens of billions of dollars in profits while exacerbating the
sub-prime mortgage crash that led to over ten million foreclosures in the US
and a global economic downturn that thrust many millions more into unemployment
and poverty.
Rather than
Hope and Change, Obama is delivering corporate socialism to America, all while
claiming he’s battling corporate America. It’s corporate welfare
and regulatory robbery—it’s Obamanomics.
“Records show
that four out of Obama's top five contributors are employees of financial
industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase
($362,207) and Citigroup ($358,054).”
more here:
Rather than
Hope and Change, Obama is delivering corporate socialism to America, all while
claiming he’s battling corporate America. It’s corporate welfare and regulatory
robbery—it’s Obamanomics.
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