White House sued for covering up crimes of JPMorgan

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White House sued for covering up crimes of JPMorgan

Stop Making Sense

Jamie DimonGabriel Black writes for WSWS:

Better Markets, a non-profit Wall Street watchdog, filed a lawsuit Monday [Feb 10th] against the US Department of Justice (DOJ) alleging that its $13 billion settlement with JPMorgan Chase over the bank’s sale of toxic mortgage-backed securities in the run-up to the financial crisis was an illegal cover-up. Better Markets said the deal, worked out in November 2013, “gave JP Morgan Chase… blanket civil immunity for years of alleged pervasive, egregious and knowing fraudulent and illegal conduct that contributed to the 2008 financial crash and the worst economy since the Great Depression.”

The lawsuit argues that the Department of Justice sought to use the deal—the largest settlement with a single entity in US history (by more than 300 percent)—to protect JPMorgan and its executives from prosecution. Under the terms of the settlement, the bank was not required to admit to any wrongdoing. Better Markets alleges that, “the…

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Rewriting History: Architects of the Financial Crisis Recast as Saviors by Corporate Media

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ZO001From I Acknowledge:

Since the Financial Crisis of 2007/8, efforts have been made to rewrite a crisis of greed and corruption in the Financial Services industry, it’s regulators and government – into a crisis of over generous welfare systems, or lazy unemployed people, or immigrants. Worse, the wealthy architects of the disaster are using the media to recast themselves from chief villains, into heroes. There is no better example, than that of Former Secretary of the Treasury and Goldman Sachs disaster banker Henry ‘Hank Paulson’.

Goldman Sachs played a key role in the crisis, making huge profits in the derivatives trades which busted the global financial system.  The CEO at the time of this egregious behaviour was one Hank Paulson.  Mr Paulson oversaw the sale of dodgy derivatives to pension firms, local governments and other misinformed investors.  The bank also, appearing to foresee the crisis, sold more than $3bn…

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Banker Clean-Up: We Are At the Precipice of Something So Big, It Will Shake the Financial World to its Core! | SilverDoctors.com

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Rise of Car Sharing Could Mean Pricier Auto Insurance for Everyone

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Fed Minutes Point to Continued Paring of Stimulus

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The Gap Is Hiking Its Minimum Wage

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Americans Are Taking on Debt at Scary High Rates

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