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After $9 Billion in Losses, JPMorgan Still Wins With Co-Opted Congress, Hobbled Volcker Rule


Business  (tags: abuse, americans, banks, business, consumers, corporate, corruption, cover-up, debt, dishonesty, economy, ethics, finance, foreclosures, government, investments, labor, law, lies, marketing, news, money, politics, society )

Kit
- 862 days ago - truth-out.org
House Republicans have refused to grant the SEC funds to implement such reforms, little change can be expected in regulators' ability to police high-risk banking roulette. That leaves us in nearly the same position as before the bank-induced financial-->



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Comments

JL A. (272)
Thursday July 12, 2012, 9:05 am
When are House Republicans going to start honoring their oaths of office and doing what the country and their constituents need?
 

Arielle S. (316)
Thursday July 12, 2012, 9:14 am
What? You actually expected somebody to do the right thing? That would be so out of character for most people in Congress!
 

Sue H. (7)
Thursday July 12, 2012, 9:18 am
This is truly disheartening. The repuglicant party of Obstruction has got to go!
 

Jason S. (57)
Thursday July 12, 2012, 12:01 pm
Should be in jail
 

paul m. (93)
Thursday July 12, 2012, 1:58 pm


Such a Waste,,,,
 

Yvonne White (232)
Thursday July 12, 2012, 2:15 pm
"The Securities and Exchange Commission's (SEC) current budget of $1.32 billion is dwarfed by the $4 billion to $9 billion JPMorgan Chase may ultimately lose through disastrous gambling on derivatives and related instruments for its own accounts." Sorry, but I think $1.32 BILLION is MORE than enough to buy the rope to hang JP Morgan Chase with...the government has the resources in place already - all it needs is the Will to bring these criminals to court. The data mining & computer techs have been in place for Over a decade, and the programs that ferret out questionable behavior have been updated as well. The weird stuff that's been going on since 2000 CAN be gone over with a fine tooth comb & experts already employed by the government. So Why Hasn't It???
 

Tal H. (8)
Thursday July 12, 2012, 7:28 pm
Thanks for the article.
 

Elle B. (82)
Thursday July 12, 2012, 10:34 pm
Get Frank-Dodd going full force and move beyond it pronto. Reinstate Glass-Steagall [with necessary updates], Activate/Enforce Volker Rule and REPEAL both of the Newt & the GOP crud pieces of Legislation that are the gateways allowing this harmful nonsense, ie. S.900, the Gramm-Leach-Bliley Act- [Financial Services Modernization Act of 1999, Title I: Facilitating Affiliation Among Banks, Securities Firms, and Insurance Companies]. . .11/2/1999 [enacted against the ardent and cautionary recommendations of James L. Bothwell, Chief Economist, GAO, et al] (H.R. 5660) Commodity Futures Modernization Act of 2000 that was creeped into the Consolidated Appropriations Act of 2001 (H.R. 4577) as a rider...in the night. And quit recognizing the Cato Crowd Creeps, et al, as legitimate academic experts...that Austrian School, Ayn Rand, Murdock, Neo-con Magical Markets Crud is nothing but twisted Mutant Pipe Dream Adventures-- Propaganda Unlimited, Headquarters... NIX 'EM. . .and all their puppet creep crews too. Then get busy reviving an even bigger New Deal!

[Note: It would sure be nice if some chariots from the mutants' mother ship would swing low and rocket sled all of them off the planet out of the universe to some infinitely remote location for remedial life education. What a relief that would be...we wouldn't even need Alka-Selzter any more.]
 

Robert B. (58)
Friday July 13, 2012, 11:17 am
I'm just speechless, all I can say at this point is: What a Corrupt system and what a Corrupt Republican Congress.
 
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