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JAMIE DIMON’S $13 BILLION SECRET—REVEALED

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posted on Sep, 7 2017 @ 09:40 AM
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Four years ago, JPMorgan Chase reached a then-record settlement with the Department of Justice after, among other things, the bank received a copy of a U.S. attorney’s draft complaint documenting its alleged role in underwriting fraudulent securities in the years leading up to the 2008 financial crisis. Following the bank’s $13 billion financial agreement, the draft complaint was never filed. Then the bank paid another settlement to prevent a separate legal case from potentially unearthing it. The contents of the draft complaint have long been a financial-crisis mystery, a Great White Whale of a document. At least until now.


A look at the behind the scenes actions during the financial meltdown of 2007 and 08.

It's amazing that they can pay a 13 Billion penalty yet emerge from the Great Recession far stronger. Sounds like they got preferred treatment for absorbing Washington Mutual and Bear Stearns.

I've never liked how the "Banks too big to fail" got bigger during this whole catastrophic problem that was their own fault to begin with.
edit on 7-9-2017 by pavil because: (no reason given)




posted on Sep, 7 2017 @ 09:44 AM
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a reply to: pavil

An no one went to jail for anything.



posted on Sep, 7 2017 @ 09:48 AM
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Bankers made out like kings from 2008 to 2016 and the average American suffered. It's disgusting.



posted on Sep, 7 2017 @ 09:49 AM
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originally posted by: loam
a reply to: pavil

An no one went to jail for anything.


It was nobody's fault! Sure.



posted on Sep, 7 2017 @ 10:02 AM
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a reply to: pavil

On the face of it ... it does seem to reek of 'In your face' arrogance ... worthy of investigation ?

Definitely.



posted on Sep, 7 2017 @ 10:02 AM
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a reply to: pavil
Agreed. However the dates of the meltdown are off a bit. The meltdown was well into melting from earlier in 2007, prior to the election year of 2008



posted on Sep, 7 2017 @ 10:10 AM
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a reply to: pavil

The criminality of the Investment Banks & Politicians is astonishing.

And no one seems to really give a sh*t... equally astonishing



posted on Sep, 7 2017 @ 10:10 AM
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a reply to: jjkenobi

So did the current President. Made money off the backs of Americans losing everything. Great guy



posted on Sep, 7 2017 @ 10:20 AM
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a reply to: TerryMcGuire

True. I'll see if I can edit



posted on Sep, 7 2017 @ 10:21 AM
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originally posted by: FamCore
a reply to: pavil

The criminality of the Investment Banks & Politicians is astonishing.

And no one seems to really give a sh*t... equally astonishing



Because the all, those in power and those that wannabe are there to do the bidding of the money makers, the banks. If they are not in need of campaign funds now, they plan to be and they must play nice to the bankers and Wall Street. Who cares about the little man in the pot-holed street?



posted on Sep, 7 2017 @ 10:29 AM
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ironically one of the only laws trump has gotten passed through was to allow the bankers to act prior to the last crash.
it appears many here believe trump can do no wrong ergo bankers were not to blame but some wahhabi believing hispanic called hillary with a copy of das kapital in their left had caused the issue.

unfortunately trumps minions gullibility and lust to blame anyone but their fuhrer will allow the same exact problem to happen again, look at britain's conservative party doing exactly the same.

now, keep telling yourself capitalism is the only way and that socialism will allow black people on buses and is therefore, bad.



posted on Sep, 7 2017 @ 06:08 PM
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a reply to: pavil

I had read that these banks consider the fines as a simple cost of doing business. They even anticipate 5-10% of these illegal gains will be set aside for penalties. So they make 100 billion from these security scams and get a slap on the wrist.

The only way this will change is to start jailing the higher ups and directors of these banks, not some small peon who will be paid to be the fall guy.

Oh well, I guess it is just us sheep that get to pay the real tab. The 700 billion bailout (Economic Stabilization act of 2008) and housing costs that have far exceed our meager incomes. Victim less crime huh?

Maybe one of these days we could actually try capitalism because we sure in the heck haven't been following that model over the last 100 years.



posted on Sep, 7 2017 @ 06:26 PM
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originally posted by: ClovenSky
a reply to: pavil

I had read that these banks consider the fines as a simple cost of doing business. They even anticipate 5-10% of these illegal gains will be set aside for penalties. So they make 100 billion from these security scams and get a slap on the wrist.



Of that I'm sure. The penalties can hardly be called that even. It's just a lowering of the profit they made on such behavior, not anywhere near a loss. Make them pay a 100% foreiture of income from illegal schemes and a 40% penalty on top, then you would see some change.



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