Tuesday, January 7, 2014

JP Morgan Pays $2 Billion to Avoid Prosecution for Its Involvement In Madoff Ponzi Scheme

Washington’s Blog
January 7, 2014

Bernie Madoff has said all along that JP Morgan knew about – and knowingly profited from – his Ponzi schemes.
Image: JP Morgan Chase (Wikimedia Commons).

So JP Morgan has agreed to pay the government $2 billion to avoid investigation and prosecution.
While this may sound like a lot of money, it is spare sofa change for a big bank like JP Morgan.
It’s not just the Madoff scheme.

As shown below, the big banks – including JP Morgan – are  manipulating virtually every market – both in the financial sector and the real economy – and breaking virtually every law on the books.

Here are just some of the recent improprieties by big banks:

Read More