stiglitz on stupid political economics
pope on european union ruling over economies that only care about haggard infertile grandmothers
hazle henderson on freeing ethical markets
global banking rules are mad out of basle - see swissleaks
why did obama fine instead of close down frauds at rating agencies and big banks
inet on currencies other than those supported by bankers bubbling property
Nomi Prins -and the wors bank of all was ???
Typical story - rolling stone
Fleischmann is the central witness in one of the biggest cases
of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion
(not $13 billion as regularly reported – more on that later) to keep the public from hearing.
Back in 2006, as a deal manager at the gigantic bank, Fleischmann
first witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the
bank's mortgage operations.
to a confidentiality agreement, she's kept her mouth shut since then. "My closest family and friends don't know
what I've been living with," she says. "Even my brother will only find out for the first time when he
sees this interview."
years after the crisis that cratered the global economy, it's not exactly news that the country's biggest banks stole
on a grand scale. That's why the more important part of Fleischmann's story is in the pains Chase and the Justice Department
took to silence her.
She was blocked
at every turn: by asleep-on-the-job regulators like the Securities and Exchange Commission, by a court system that allowed
Chase to use its billions to bury her evidence, and, finally, by officials like outgoing Attorney General Eric Holder, the
chief architect of the crazily elaborate government policy of surrender, secrecy and cover-up. "Every time I had
a chance to talk, something always got in the way," Fleischmann says.
This past year she watched as Holder's Justice Department struck a series of historic
settlement deals with Chase, Citigroup and Bank of America. The root bargain in these deals was cash for secrecy. The banks
paid big fines, without trials or even judges – only secret negotiations that typically ended with the public shown
nothing but vague, quasi-official papers called "statements of facts," which were conveniently devoid
of anything like actual facts.
Jamie Dimon Bloomberg/Getty
And now, with Holder about to leave office and his Justice Department reportedly wrapping up its final
settlements, the state is effectively putting the finishing touches on what will amount to a sweeping, industrywide effort
to bury the facts of a whole generation of Wall Street corruption
Read more: http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106#ixzz3T9eJKxM7
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