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Originally posted by tkwasny
Looks like a repeat of 2008 crash is set to roll. This one could go all the way to the bottom regardless of anything the fed or world bank does. Most likely not. Too many useful idiots around to prop up the illusion so it doesn't happen "on their watch".
Citigroup, JPMorgan Chase and Wells Fargo each received $25 billion -- the largest amount given to any bank.
In response, Schapiro told members of House financial service committee that although she wasn't at the SEC at the time, she believes that the agency's program that put regulators in Lehman "was wholly, inadequately funded and supported by the agency."
Said Schapiro: "There were a small handful of people - I believe less than a dozen - responsible for the five largest investment banks. . . . If you're going to take on the regulation of the largest banks in the world, you need more than a dozen people to do it and they need to be adequately trained and have authority."
Originally posted by queenofsheba
Question, hypothetically speaking of course. If one were to have an annuity retirement managed by JPMorgan that was over 100 thousand would there be a possibility of losing said annuity? Or does the deal in the news have little bearing on such a circumstance?
Stories began circulating in April that a London-based JP Morgan trader in London – nicknamed "the London whale" or "Voldemort" – had taken huge bets in the credit derivatives market.
Originally posted by Rockpuck
reply to post by Corruption Exposed
I'd go as far to say the SEC is 100% involved in some of this.. Take Murdoch for example.. I know, for a fact, that it would be impossible to hide the obvious fraud that was committed from the SEC. They knew. They had to, there is simply no possible way he went that long without even a random audit from the SEC. Someone, or more likely many people, were being paid off. I'm sure there is a whole office in the SEC to watch over just JP Morgan. And I'm sure they are nicely compensated to keep quite about what they see.