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Matt Taibbi: Nobody Should Shed a Tear for JP Morgan Chase


Business  (tags: J.P. Morgan Chase, $13 billion settlement, business press crying, no jail, mass fraud, MBS, housing bubble, TBTF, Obama, Schneiderman, Washington Mutual & Bear Stearns, sanitized acquisitions, Bernie Madoff, Ponzi schemes, Maiden Lane, Fed eats debt )

Judy
- 310 days ago - rollingstone.com
In fact, this deal is actually quite a gift to Chase. It sounds like a lot of money, but there are myriad deceptions behind the sensational headline.



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Comments

JL A. (275)
Friday October 25, 2013, 8:14 pm
He's completely on target, as usual, and I agree with:
"It would be great if everyone covering Wall Street could sign a pact, and agree: No more crying, please, about no-jail, no-individual-penalty settlements in which companies use shareholder money to pay fines at huge discounts relative to the actual damage they caused. And again, wake me up when even one of these guys goes to jail. There are only about a million Americans doing time for less."


 

Roger Garin-michaud (61)
Saturday October 26, 2013, 3:27 pm
noted, thanks
 

BnKatieNOMESPLE D. (81)
Saturday October 26, 2013, 8:08 pm
They knew exactly what they were doing!
Thank You
 
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