JPMorgan

China Arrests Former CEO Of JPMorgan Asia

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– China Arrests Former CEO Of JPMorgan Asia (ZeroHedge, May 21, 2014):

Just one day after the FBI issues arrest warrants for 5 Chinese military officials, Caixin reports that Fang Fang – the former CEO of JPMorgan Asia – has been arrested in Hong Kong by the Independent Commission Against Corruption (or anti-graft agency). Coincidental timing we are sure; and while details are sparse, the arrest appears linked to the hiring of the children of Chinese officials. Bloomberg reports that Fang declined to comment after being released on bail (under restrictions not to leave Hong Kong).

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White House Former Chief Of Staff Joins Hedge Fund Launched By Former JPM Prop Traders

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– White House Former Chief Of Staff Joins Hedge Fund Launched By Former JPM Prop Traders (ZeroHedge, April 24, 2014):

“The amount of experience he has is ridiculous,” says former JPM prop trader Galuti, adding “- in a positive way,” as he explains why former Clinton Commerce secretary (and Obama chief of staff) Bill Daley has joined the small Swiss-based hedge fund. The revolving door of favors continues as Daley, who The FT reports will be based in Chicago and oversee US expansion (as well as provide macroeconomic and political advice), joins an ever-growing number of former Obama administration officials to have taken jobs in the financial sector.

As The FT reports, Bill Daley, the former White House chief of staff, is to join the hedge fund Argentière Capital, which was founded last year by leaders of JPMorgan’s disbanded proprietary trading division.

Mr Daley, who was also Commerce Secretary under President Bill Clinton, joins a number of former Obama administration officials to have taken jobs in the financial sector.

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He will be based in Chicago and help spearhead the fund’s US expansion, as well as provide macroeconomic and political advice.

Read moreWhite House Former Chief Of Staff Joins Hedge Fund Launched By Former JPM Prop Traders

Goldman Sachs Stands Firm As Banks Exit Commodity Trading

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– Goldman Sachs Stands Firm as Banks Exit Commodity Trading (Blomberg, April 23, 2014):

Goldman Sachs Group Inc. (GS), whose three top executives began their careers at the firm in the commodity-trading unit, is poised to gain market share as pressure from regulators drives competitors to scale back.

Barclays Plc (BARC), the U.K.’s second-largest bank, said that it’s exiting commodities businesses other than trading precious metals and derivatives tied to oil, U.S. gas and commodity indexes. In January, the London-based bank cut jobs in the group that traded raw materials and in February shut power-trading desks in the U.S. and Europe.

JPMorgan Chase & Co. (JPM) last month announced the $3.5 billion sale of its raw-materials trading unit to Mercuria Energy Group Ltd. and Morgan Stanley (MS) plans to sell its physical oil business to Russia’s OAO Rosneft. Goldman Sachs, Morgan Stanley, Barclays and JPMorgan were the biggest traders of commodity derivatives among banks, according to a Greenwich Associates survey last year.

“The more banks that exit commodities trading, the less competitive it becomes for the banks which stick with it,” Jeffery Harte, an analyst at Sandler O’Neill & Partners LP, said in a phone interview. Goldman Sachs has “the bigger franchise to be a winner. It now has a much bigger piece of a much smaller pie.”

Read moreGoldman Sachs Stands Firm As Banks Exit Commodity Trading

Blythe Masters Under Investigation By Federal Prosecutors

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From the article:

“In retrospect we can understand why the inventor of the Credit Default Swap would only dare go out in public with a couple of armed gorillas covering her back.”

Flashback:

– JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade

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– Blythe Masters Under Investigation By Federal Prosecutors (ZeroHedge, April 10, 2014):

There is much new info in the just released Bloomberg profile on the infamous ex-JPMorganite Blythe Masters, among which the disclosure that she had made it clear that she had wanted to go along with the disposable JPM physical commodities unit (which as was reported recently, was sold to Swiss commodities giant Mercuria) and “and continue as the group’s chief”, a plan which did not work out as she had planned since she has no plans to “join the unit’s purchaser” (although joining Glencore is another matter entirely, and one which looks increasingly plausible) but what we find most striking is the following revelation: “Masters is under investigation by federal prosecutors in Manhattan, according to two people with knowledge of the matter. That probe was opened following a settlement with regulators that alleged JPMorgan manipulated power markets in the Midwest and California.”

This is somewhat ironic because it was none other than Zero Hedge which asked nearly a year ago if “JPMorgan’s “Enron” Will Be The End Of Blythe Masters?” Suddenly, the answer appears to be yes.

More from Bloomberg:

Read moreBlythe Masters Under Investigation By Federal Prosecutors

Ex-ABN Amro CEO Killed Family Before Hanging Himself

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– Ex-ABN Amro CEO Killed Family Before Hanging Himself (ZeroHedge, April 7, 2014):

Sadly, as suspected – and in line with his CFO in 2009 – the reported death of Jan Peter Schmittmann was indeed suicide. The ex-CEO of ABN Amro hanged himself, but only after murdering his wife, Nally, and 22 year-ol daughter Babette. As Bloomberg reports, a farewell letter was found in the house, but authorities declined further comment on its contents. Schmittmann’s family was cited as saying in the statement that “we knew Jan Peter struggled with severe depression,” and added that their “first concern now is supporting the remaining daughter in coping with this indescribable grief.” Aweful…

As Bloomberg reports,

De Telegraaf reported today that Schmittmann hanged himself, citing two people it didn’t identify.

Bloomberg explains Schmittmann’s history:

Schmittmann joined ABN Amro Holding NV, once among Europe’s biggest banks, in 1983 as an assistant relationship manager and was named head of the lender’s Dutch unit in 2003. As a member of the bank’s executive board, he was responsible for restructuring it along the lines agreed by Royal Bank of Scotland Group Plc, Fortis and Banco Santander SA in their three-way takeover of the lender in 2007.

A year after the biggest financial-services takeover in history, the credit crunch drove Fortis to the verge of collapse, forcing the Netherlands to take over its Dutch banking and insurance units, including assets of the former ABN Amro in 2008. The Dutch asked Gerrit Zalm to lead the company now called ABN Amro Group NV.

Read moreEx-ABN Amro CEO Killed Family Before Hanging Himself

Putin 1 – Dimon 0: JPMorgan Unhalts Russian Money Transfer

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– Putin 1 – Dimon 0: JPMorgan Unhalts Russian Money Transfer (ZeroHedge, April 3, 2014):

Yesterday when we reported that a “Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan“, in which we explained that unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious, we said that “we certainly can not be the only ones looking forward to the epic battle prospect that is Vlad “Shootin” Putin vs JP “Fail Whale” Morgan.” Alas the title fight lasted for just about a day, and was won, with a technical knock out in the first round, by none other than the former KGB spy who can now add the whale which manipulates all markets to its trophy case which includes about 100 statues of a crushed and beaten John Kerry.

Because after shocking the world with its unilateral decision to halt Russian money transfers without a direct order from the administration, Reuters reports that JPM has folded and will process said payment from Russia’s embassy in Kazakhstan to insurance agency Sogaz, easing tension after Moscow accused the U.S. bank of illegally blocking the transaction under the pretext of sanctions.

In other words, Putin 1 – Jamie Dimon 0.

More from Reuters:

Read morePutin 1 – Dimon 0: JPMorgan Unhalts Russian Money Transfer

Furious Russia Will Retaliate Over ‘Illegal And Absurd’ Payment Block By ‘Hostile’ JPMorgan

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– Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan (ZeroHedge, April 2, 2014):

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that “Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer “Under Pretext” Of Sanctions.” This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with “Russian threat to retaliate over JPMorgan block.” And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as “illegal and absurd.”  And as Ukraine found out last month, you don’t want Russia angry.

More:

The biggest U.S. bank thwarted a remittance from the Russian embassy in Astana, Kazakhstan, to Sogaz Insurance Group “under the pretext of anti-Russian sanctions imposed by the United States,” the ministry said yesterday in a statement on its website. Sogaz lists OAO Bank Rossiya, a St. Petersburg-based lender facing U.S. sanctions over the Ukrainian crisis, as a strategic partner on its website.

Interfering with the transaction was an “absolutely unacceptable, illegal and absurd decision,” Alexander Lukashevich, a ministry spokesman, said in the statement.

Read moreFurious Russia Will Retaliate Over ‘Illegal And Absurd’ Payment Block By ‘Hostile’ JPMorgan

Russian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans

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– Russian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans (ZeroHedge, April 2, 2014):

It didn’t take long for Russia to launch the first retaliatory salvo against the unexpected JPMorgan “act of aggression.” Moments ago Bloomberg just reported that Sberbank,  the largest bank in Russia and all of Eastern Europe, just halted the issuance of consumer loans in foreign currency. Bloomberg adds that “Sberbank, Russia’s biggest lender, holds 43.3% of nation’s consumer deposits, 32.7% of consumer loans and 32.1% of corporate loans.”

Why is this important? Well, it is possible that the biggest Russian bank is running low on foreign reserves with which to issue non-ruble loans, which is rather unlikely for a bank which is defacto part of the Russian financial system. Still, it would be problematic if Russia is indeed telegraphing its commodity-export driven economy is suddenly low on Dollars and/or Europe’s artificial, life-supported currency.

Read moreRussian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans

JPMorgan Imposes Its Own Sanctions On Russia By Blocking Money Transfer

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– J.P. Morgan imposes its own sanctions on Russia by blocking money transfer (The Daily Sheeple, April 2, 2014):

If we recall back in September of last year, the first individuals to speak to President Obama at the White House during the government shutdown were not leaders in Congress, but 15 bankCEO’s.  This highly disturbing event appears to be a pre-cursor to the power that financial institutions have over the U.S. government, and brings to mind former activities by the banking industry in helping both V.I. Lenin and Adolph Hitler achieve power over countries outside of the authority of America’s elected leaders.

Which is why an interesting course of action taken by J.P. Morgan Chase towards Russia and the Russia’s government on April 1 may once again prove to Americans just how much power the banks have over the State Department, and even the White House.

Read moreJPMorgan Imposes Its Own Sanctions On Russia By Blocking Money Transfer

Office Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption

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– Office Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption (ZeroHedge, March 29, 2014):

It just hasn’t been JPMorgan’s year. Or several years for that matter. The bank which has been on a steady downward slope when it comes to paying billions in quarterly “non-recurring, one-time” legal settlements and charges, and for which engaging in criminal behavior which is neither admitted nor denied, yet which has cost JPM nearly $30 billion in the past several years, has just had its latest “wristslapping” incident, one which involves none other than the recently departed CEO of JPM Asia, Fang Fang, whose office was raided on March 26 by Hong Kong’s anti-corruption agency amid a U.S. investigation into the bank’s hiring practices as reported by Bloomberg.

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From Bloomberg:

The Independent Commission Against Corruption seized computer records and documents after searching the office of Fang Fang, the company’s outgoing chief executive officer for China investment banking, said the people, who asked not to be identified because the investigation is confidential.

Read moreOffice Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption

JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

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– Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers (Wall Stret On Parade, March 24, 2014)

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

According to the December 31, 2013 financial filing known as the Call Report that JPMorgan made with Federal regulators, it has tied up $10.4 billion in illiquid, long term bets on the death of a large segment of its employees.

Read moreJPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

JPMorgan Chase Attorney Killed By Minivan

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– Veteran cyclist killed by minivan knew the dangers all too well (The Columbus Dispatch, March 24, 2014):

About a decade ago, Jeff Stephens was bicycling shoulder-to-shoulder with Joseph A. Giampapa when the two witnessed another cyclist get fatally struck by a car right in front of them.

“It was sort of a bond that we had, and I would say it’s a burden that we carried,” Stephens said yesterday. “We were in very close contact for months after that situation.”

On Saturday, Stephens, of Worthington, got a phone call from the scene of another accident — this time, it was Giampapa who had been struck by a minivan and killed while bicycling north of Troy.

Giampapa, 56, of the Northwest Side, was an accomplished long-distance cyclist and corporate attorney for JPMorgan Chase in Columbus. He was a longtime resident of Victorian Village who had moved with his wife, Thelma, into a condominium near Dublin about two years ago.

Read moreJPMorgan Chase Attorney Killed By Minivan

28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides

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– 28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides (ZeroHedge, March 18, 2014):

Not a week seems to pass without some banker or trader committing suicide. Today we get news of the latest such tragic event with news that 28-year old Kenneth Bellando, a former JPMorgan banker, current employee of Levy Capital, and brother of a top chief investment officer of JPM, jumped to his death from his 6th floor East Side apartment on March 12.

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From the NY Post:

Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top chief investment officer with JPMorgan, works on risk exposure valuations.

Read more28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides

The Holy Grail Of Trading Has Been Found: HFT Firm Reveals 1 Losing Trading Day In 1238 Days Of Trading

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– The Holy Grail Of Trading Has Been Found: HFT Firm Reveals 1 Losing Trading Day In 1238 Days Of Trading (ZeroHedge, March 11, 2014):

Think JPM’s zero trading day losses in 2013 was impressive? Prepare to have your mind blown. The chart below shows the chart of daily net trading income by High Frequency Trading titan Virtu, taken from its just filed IPO prospectus. The punchline: in 4 years of trading Virtu has had one, one, day in which it lost money.

From the S-1: “The chart below illustrates our daily Adjusted Net Trading Income from January 1, 2009 through December 31, 2013. As a result of our real-time risk management strategy and technology, we had only one losing trading day during the period depicted, a total of 1,238 trading days. “

VRTU Trading Days

Let that sink in: one trading loss day and 1237 days of profits. And that, ladies and gentlemen, is the Holy Grail of the New Normal broken, manipulated markets.

Read moreThe Holy Grail Of Trading Has Been Found: HFT Firm Reveals 1 Losing Trading Day In 1238 Days Of Trading

Madoff Said JPMorgan Executives Knew Of His Fraud – JPMorgen Admitted Guilt By Agreeing To Pay $2.6 Billion To Settle Lawsuits With The DOJ

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– Madoff said JPMorgan executives knew of his fraud: lawsuit (Reuters, Feb 20, 2104):

NEW YORK (Reuters) – Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had “direct knowledge” of his Ponzi scheme.

The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews.

Read moreMadoff Said JPMorgan Executives Knew Of His Fraud – JPMorgen Admitted Guilt By Agreeing To Pay $2.6 Billion To Settle Lawsuits With The DOJ

The Number Of Days In Which JPMorgan Lost Money In All Of 2013 Is … ZERO

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– The Number Of Days In Which JPM Lost Money In All Of 2013 Is… (ZeroHedge, Feb 20, 2014):

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0

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Well, what did you expect.

However, there’s more.

First, the reason why the familiar histogram showing the trading days profits (we would say losses but TBTFs don’t lose money in the New Normal) such as the one seen here is no longer present, is because JPM has decided to no longer show it as of this quarter.

Read moreThe Number Of Days In Which JPMorgan Lost Money In All Of 2013 Is … ZERO

JPMorgan Imposes New Capital Controls on Cash Deposits!

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– JPMorgan Imposes New Capital Controls on Cash Deposits! (Silver Doctors, Feb 18, 2014):

In October, we warned SD readers that JPMorgan had initiated capital controls, limiting cash withdrawals, and banning outgoing international bank wires.

The Morgue is at it again, reportedly at the request of the gov’t, as the bank has just informed customers of new capital controls on cash deposits, banning counter credit deposits, forcing customers to provide a photo ID before depositing their own cash into an account, and only allowing customers to deposit cash into accounts in which their name is listed.

The writing is clearly on the wall for any who have eyes to see.
Your opportunity to exit the current system with your wealth intact is slowly closing as the banksters attempt to seal off the exits without panicking the masses.
Got Phyzz??

JPMnotice

 

Does The Trail Of Dead Bankers Lead Somewhere?

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Does The Trail Of Dead Bankers Lead Somewhere

– Does The Trail Of Dead Bankers Lead Somewhere? (Economic Collapse, Feb 18, 2014):

What are we to make of this sudden rash of banker suicides?  Does this trail of dead bankers lead somewhere?  Or could it be just a coincidence that so many bankers have died in such close proximity?  I will be perfectly honest and admit that I do not know what is going on.  But there are some common themes that seem to link at least some of these deaths together.  First of all, most of these men were in good health and in their prime working years.  Secondly, most of these “suicides” seem to have come out of nowhere and were a total surprise to their families.  Thirdly, three of the dead bankers worked for JP Morgan.  Fourthly, several of these individuals were either involved in foreign exchange trading or the trading of derivatives in some way.  So when “a foreign exchange trader” jumped to his death from the top of JP Morgan’s Hong Kong headquarters this morning, that definitely raised my eyebrows.  These dead bankers are starting to pile up, and something definitely stinks about this whole thing.

What would cause a young man that is making really good money to jump off of a 30 story building?  The following is how the South China Morning Post described the dramatic suicide of 33-year-old Li Jie:

Read moreDoes The Trail Of Dead Bankers Lead Somewhere?

Second JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader

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The man stands on the roof of Chater House in Central as police try to talk him down. Photo: SCMP Pictures

– Second JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader (ZeroHedge, Feb 18, 2014):

The banker suicide wave that started in late January has now become an epidemic, and it seems to be focusing on one bank: JP Morgan.

After the first suicide that took place in JPM’s London headquarters, ending the life of 39 year old Gabriel Magee, a vice president in the investment bank’s technology department, next it was 37 year old Ryan Crane, an executive director in the firm’s program trading division, who died under still unknown circumstances.

Moments ago a third JPMorgan banker committed suicide, this time at the JPMorgan Charter House Asia headquarters in central Hong Kong, where a 33 year old man who was said to have been an FX trader for JPM, just jumped to his death.

Read moreSecond JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader

JPMorgan’s Disturbing Links To The CIA, NYPD And More …

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– Wall Street on Parade Explores JP Morgan’s Disturbing Links to the CIA, NYPD and More… (Liberty Blitzkrieg, Feb 13, 2014):

Pam Martens of Wall Street on Parade does some excellent work, and I have featured her articles several times on this site. Most recently, I highlighted her article: New York is Drowning in Bribes and Corruption, which was a particularly popular post. In the article I have chosen today, she dives into a topic frequently discussed on the Wall Street on Parade site. Namely, the incestuous and entirely inappropriate relationship between JP Morgan and law enforcement, including the CIA itself. No wonder no one ever gets in trouble or goes to jail…

Here are some excerpts from her latest:

Read moreJPMorgan’s Disturbing Links To The CIA, NYPD And More …

Matt Taibbi: The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam Yet

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Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever

– The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam Yet (Rolling Stone, Feb 12, 2014):

Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever

all it the loophole that destroyed the world. It’s 1999, the tail end of the Clinton years. While the rest of America obsesses over Monica Lewinsky, Columbine and Mark McGwire’s biceps, Congress is feverishly crafting what could yet prove to be one of the most transformative laws in the history of our economy – a law that would make possible a broader concentration of financial and industrial power than we’ve seen in more than a century.

But the crazy thing is, nobody at the time quite knew it. Most observers on the Hill thought the Financial Services Modernization Act of 1999 – also known as the Gramm-Leach-Bliley Act – was just the latest and boldest in a long line of deregulatory handouts to Wall Street that had begun in the Reagan years.

Read moreMatt Taibbi: The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam Yet

Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

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–  Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading (ZeroHedge, Feb 12, 2014):

Ordinarily we would ignore the news of another banker’s death – after all these sad events happen all the time – if it wasn’t for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan – a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM’s Global Program Trading desk, founded in 1999 by an ex-DE Shaw‘er, a function of the firm which is instrumental to preserving JPM’s impeccable and (so far in 2013) flawless trading record of zero trading losses.

Read moreAnother JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

JPMorgan Sued For Crony Justice – Presenting ‘A Decade Of Illegal Conduct By JP Morgan Chase’

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Jamie Dimon cufflinks - The seal reads Seal of the President of the United States and includes the arrow-carrying eagle

– JPMorgan Sued For Crony Justice – Presenting “A Decade of Illegal Conduct by JP Morgan Chase” (ZeroHedge, Feb 10, 2014):

Earlier today, the non-profit organization Better Markets did what so many others have only dreamed of doing – they sued JPMorgan.

Specifically, as they disclose in the fact sheet posted on their website, they are “challenging the historic and unprecedented $13 billion settlement agreement between the U.S. Department of Justice and JP Morgan Chase (“Agreement”).  Better Markets alleges in its complaint that the DOJ violated the Constitution and laws of the United States by using a mere contractual agreement to resolve claims of historic importance without subjecting the Agreement to independent judicial review.  In effect, the DOJ acted as investigator, prosecutor, judge, jury, sentencer, and collector, without any check on its authority or actions, even though the amount is the largest in the 237 year history of the United States. Because the DOJ has declared its intention to use the Agreement as a “template” in future similar cases, it is imperative that the DOJ’s unlawful and secretive approach in the settlement process be subjected to judicial review.”

We wish them the best of luck, as in a “crony justice” system as corrupt as this one – perhaps best described, paradoxically enough by the fictional movie The International – where the same DOJ previously implicitly admitted it will not prosecute “systemically important” firms like JPM to the full extent of the law and instead merely lob one after another wrist slap at them to placate the peasantry, any hope for obtaining true justice is impossible.

Read moreJPMorgan Sued For Crony Justice – Presenting ‘A Decade Of Illegal Conduct By JP Morgan Chase’