Forum Post: BREAKING: JP Morgan Whistleblower Reveals Market Manipulation, Corruption
Posted 12 years ago on March 15, 2012, 2:17 p.m. EST by Reneye
(118)
This content is user submitted and not an official statement
[This was officially filed on the CFTC website, alerting the organization to the illegal and manipulative practices of JP Morgan. It will be interesting to see where this ends up]…
The problems for Wall Street run even deeper. Less and less graduates from top schools are opting to pursue a career in Wall Street, less notable defections are happening all the time, and overall, the entire country is pissed at Wall Street. Was OWS partly responsible for this? I think yes, absolutely.
me too
The content of the whistleblower's letter shows corroborated knowledge so the CFTC should take it seriously and start an investigation.
Wall Street is being actively shielded from criminal prosecution by the POTUS and the U.S. Secretary of the Treasury. This is evident for all to see. The results bear that out. Not one Wall Street executive has been indicted. Our financial system watchdogs continue to hand down petty penalties for massive fraud and they do so in the face of growing public outrage. That is how a plutocracy works and, until the bankstas are held to account, there will be no rest. America is not amused. Everybody knows Geithner is in the tank for Wall Street, as have almost all Treasury Secretaries (and Federal Reserve Governors) before him. In effect, Wall Street committed mass financial rape of Main Street Americans. Wall Street behaved and continues to behave like a financial lynch mob with the government at their back. The punks always walk away with impunity from a lynching but the victims are left swinging in the breeze. The scale of their fraud was so big that they became invulnerable. They are too big to jail. If the Justice Department indicts one of them, it has to indict all of them. The numbers are staggering. Further, these particular bandits can hire the best lawyers to defend them, thus outgunning and overwhelming the prosecutors. Hence, the prudent thing for weak and compromised public officials is to just let it go, and that is exactly what this president and this congress have done. Move on. The fact that the perpetrators continue to give tens of millions to the President’s reelection campaign and to the candidates of the opposing political party ensures that pay-to-play rules and justice takes a walk. They don’t care how many people take to the street. Like Boss Tweed famously said, “What are you gonna do about it?” Hopefully, there will be a trickle and then a flood of whistle blowers who are brave enough to expose the white-collar criminals, who inhabit the business offices on Wall Street and other financial districts around the country.
The reason for tarping over and fermenting the financial mess is that the U.S. government was intimately involved so it is definitely NOT in its politicians' interest to stir up the cesspool. POTUS knows the U.S. Secretary of the Treasury "no longer clandestinely" works for Wall Street but POTUS needs his help with and connection to China and Wall Street to fund the U.S. and his re-election campaign. The smart ones in our government know to keep their mouths shut even when asked point-blank although they were sworn in to uphold the U.S. Constitution because they ALSO understand the matrix that they are inside of.
I can't disagree with your assessment. The fact that everyone knows the score and sees nothing done about it only makes Americans irate. That why it doesn't take much to rile people up when they see the wise guys on the Street rip-off anyone with a pulse and get away with it every fucking time. And then we have a jive-ass president tell us that no crimes were committed. That adds insult to injury and shows that there is no daylight between government officials at the very top and Wall Street.
There are people such as the JP Morgan Chase whistleblower who can highlight the mounting methane pressure in our cesspool so that the regulators and the public can hopefully relieve the pressure before it blows and hurts innocent bystanders.
Surprise, surprise... one can only hope JP Morgan doesn't get away this time. Corruption needs to be punished to the fullest extent to stem its prevalence. A perfect example of why certain individuals would like to decrease government regulation - so they can get away with their crimes.
Making big brother bigger is not going to make things better. The regulation was the smoking gun.
And how do you propose to make things better?
The regulation allowed these derivatives a AAA rating for investments. It created the false illusion of safety. The regulators are less saavy than the bankers. I would propose putting in place Glass Stegal and limit regulation. Let private enterprise and new investigative firms be the watch dog. It has been proven more effective over the years.
Although I'm not against Glass-Stegal, I don't see the logic in limiting regulation. Why reduce regulation just because it doesn't work every single time? Why make it easier for the criminals? Backwards logic in my opinion to limit regulations when the con artists get away with a crime.
Big brother being bigger than life-size to the evildoers can provide for deterrence and the future stability of the financial markets. However, heavy-handed financial regulations can and will hamper the not-so-evil financial entities, too, so we should try to make "dolphin-safe" fish nets for re-regulating and streamlining the financial markets.
Hi Reneye, Good post and link.
[Removed]
Bob Dylan's Law Firm Represents Morgan Stanley
http://jamesdamiano.yolasite.com/
This post is on the comments for the cftc website. I do believe Jpm does manipulate the silver market, but it looks like this is a faux fugazi whistleblower. If you know silver investors like I do, you will see what I mean.
The truth emerges - then is supported by insiders who have had enough and are blowing the whistle in support of America.
How long before the Department of Justice gets on board.
Or do we need to launch an investigation there?