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  1. #1
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    Holder lies, lets bank off easy

    Good old injustice handler Eric Holder has let JO Morgan Chase, major perpetrator of ripping off Americans and crashing the economy, off with hardly a swat -- and is lying to the American people about it. He made an announcement that they're paying a $13 billion penalty, but -- well, read this:

    The first thing you need to know about JPMorgan Chase’s long-awaited $13 billion dealwith the Justice Department — to settle a number of civil lawsuits related to the fraudulent sale of mortgage-backed securities — is that it’s not a $13 billion deal. $4 billion of this figure, over 30 percent, was announced almost a month ago as the conclusion of a lawsuit between JPMorgan and the Federal Housing Finance Agency.
    So he's pretending they were penalized four billion more than they were... and that's a fraction of the damage they did. That's not the only way he's letting them off easy, either -- read more.

    JP Morgan alone should be paying a minimum of fifty billion, and should be busted into several dozen pieces, so none of them are even close to "too big to fail". But Obama's corrupt choice to downgrade the country's justice is being his typical self, handing the big financial interests a gold mine and handing the public the shaft.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  2. #2

    Re: Holder lies, lets bank off easy

    Welcome to the new normal. And it's not just a US problem.

    The fines and settlements paid by many financial institutions are akin to the indulgences sold by the medieval Catholic Church. The sins of the past may now be forgiven -- but there are no guarantees of improvement in the future.

    Regulatory agencies and politicians have not set effective controls on banks and bankers, and although their reputation may be tarnished, their power remains unbroken.
    http://www.spiegel.de/international/...6.html#ref=rss

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