Posted on October 15, 2012 by lucas2012infos | Leave a comment
History will judge our willingness to defend moral principles against the corrupting influence of the Wall Street capos.
So far, their campaign cash and lucrative revolving-door jobs have kept
them above the law, while their PR firms and personal salesmanship have
largely exempted them from moral judgement in the inner corridors of
wealth and power.
Chicago in the 1920s, the Chicago of Al Capone, had nothing on today’s Washington D.C.
A new lawsuit against JPMorgan Chase is being met with both optimism
and skepticism. But, ironically, investigators have finally broken their
silence on criminal indictments for bankers… to protect its chief executive.
The Chicago-style immunity enjoyed by today’s bankers will only be
broken if this recent lawsuit is followed by many more — along with
criminal indictments where appropriate. And these lawsuits will only
deter future crimes if bankers are forced to make restitution from their
own pockets, not their shareholders’.
Look Who’s Talking
The Justice Department has been stonewalling the public for years on
Wall Street crime by saying it “can’t comment on ongoing
investigations.” But when it comes to investigations designed to
exonerate those same bank CEOs, look who’s talking now!
“Federal authorities are using taped phone conversations to build
criminal cases related to the multibillion-dollar trading loss at
JPMorgan Chase,” The New York Times ”Dealbook” blog reported this week, “focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.”
Why so chatty all of sudden, “sources close to the investigation”?
The answer becomes obvious a few paragraphs into the piece: “The
investigation does not appear to touch the upper echelons of the
executive suite … The findings could insulate JPMorgan and its chief executive, Jamie Dimon, from further fallout.” (emphasis ours)
Got that? Investigators won’t say a word when big bankers are under suspicion. But when talking will help them you can’t shut ‘em up!
And ah, yes. James “Jamie” Dimon. Dimon, the CEO whose bank has
apparently been above the law, suddenly finds that his institution is
the target of a criminal investigation. At long last. And the Justice
Department’s even willing to talk about it! But whaddya know? They’re
claiming it will exonerate Mr. Dimon.
Jamie Dimon. Like the man in the Dylan song says: He can’t help it if he’s lucky.
Dealbook’s anonymous source is quite the chatterbox, even offering
the names of the individual suspects — most of whom, as fate would have
it, are French citizens who have returned to their home country and are
therefore beyond the reach of U.S. law. Zut alors!
(Ah, how we wish we could indict them, one imagines the Justice
Department official whispering to the journalist. But their government
will not extradite. You know how it is with the French, our anonymous
source adds with a shrug. I ask my friends at the Surete what can be
done, but they merely light another Gauloise and say C’est la vie.)
Looks like Jamie Dimon’s luck is contagious.
Read the whole story at : www.opednews.com link to original article
Thanks to: http://lucas2012infos.wordpress.com