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From Whale To Rat: DOJ Has Cooperating Witness In JPMorgan Case

Tyler Durden's picture




 

Over the past week many have been scratching their heads over why JPMorgan is so eager to comply with the DOJ's investigation into the bank's misrepresentation of the quality of its RMBS bundled mortgages, having gone so far as to suggest that JPM is weilling to settle for as much as $4 billion in cash (with a $7 billion non-cash component) though still shy of the DOJ's $20 billion ask. The reason, as the WSJ reports, may be very simple one: a rat is providing the Feds with information deep from within the house of the whale. "The Justice Department's pursuit of possible criminal charges against J.P. Morgan Chase & Co. is based in large part on a key cooperator from inside the bank who is aiding the government and has provided information suggesting the bank vastly overstated the quality of mortgages that were being bundled into securities and sold to investors, according to people familiar with the matter."

The WSJ has more:

Among the offices that received leads was Sacramento, Calif., which got documents related to billions of dollars of mortgage-backed securities issued by J.P. Morgan between 2005 and 2007, according to people with knowledge of the investigation. Among them, according to two people familiar with the investigation, was an email from a bank employee, warning her superiors they were vastly overstating the quality of the mortgages being bundled into securities. The bank went ahead and securitized them anyway, according to these people.

 

The woman who wrote that email has been cooperating with federal authorities and is expected to be available as a witness if the government ever brings a case to court, these people said. Her cooperation, along with documents, has fueled confidence among some lawyers within the Justice Department that they have built a solid, prosecutable case built on hard evidence. Among the documents the government has are ones suggesting J.P. Morgan knew the underlying mortgages it sold were of poor quality but told investors otherwise, according to people familiar with the investigation.

Curiously, it was also internal bickering, mostly between the firm's CIO office and various peripheral banking offices, that led to the media leaks in April 2012 exposing the London Whale's position, leading to the first "tempest in a teapot" comment from Jamie Dimon, which has since cost the bank very dearly, resulted in the admission of securities fraud guilt, cost many JPM employees their jobs, and has two ex-JPMorganites being charged criminally in NY court.

However, back then it was mostly cash and credibility damage to the bank, which primarily abused client deposits to serve as collateral for highly leveraged margined bets gone horribly wrong in an attempt to corner the IG9 market. This time there appears to be malfeasance in an area near and dear to Obama's heart: housing. And the DOJ seems to have locked in on not only JPM but the man who seemingly committed perjury in Congress in his recollection of the London Whale events.

Which is why this time the bottom line damage to JPM will be far greater.

Based partly on that belief, the Justice Department has been pressing the bank in negotiations to admit wrongdoing in some form. Bank officials have been adamant no crimes were committed and insist they won't admit to criminal wrongdoing. In the discussions, the bank has also denied suggestions that the Sacramento evidence is particularly incriminating or damaging to J.P. Morgan's reputation, according to people familiar with the discussions.

Reputation? Jokes aside, we can only hope this case goes to trial: because it is only in the treasure trove of public discovery that one will discover, beyond a reasonable doubt, just what other markets JPM was manipulating, and finally close the book on the biggest "conspiracy theory" of all - JPM's involvement in the precious metals market, despite the CME's most recent scrambling to shove all such allegations under the carpet as quickly as possible.

* * *

In parallel news, while John McCain has shown himself to be an adept poker player when it comes to foreign policy, he does bring up some valid point in this just released letter to Attorney General Eric Holder w/r/t JPMorgan. Highlights ours:

Dear Mr. Attorney General:
 
News reports indicate that you personally met last Thursday with JPMorgan CEO Jamie Dimon in the course of settlement talks between JPMorgan Chase and the Department of Justice (DOJ).  Your meeting with Mr. Dimon reportedly centered on multiple investigations into JPMorgan's issuance of mortgage-backed securities in the lead-up to the financial crisis.  These discussions are taking place while DOJ is also investigating the bank's actions related to the $6 billion "London Whale" trading losses, which the Senate Permanent Subcommittee on Investigations independently investigated.
 
Your personal meeting with the CEO of the corporate target of a major criminal investigation, at the request of the CEO, while negotiations on a global settlement agreement are pending, is highly unusual and, under the circumstances that the meeting occurred, gives rise to concern.  It is noteworthy that at the same time the bank is facing a litany of regulatory woes that carry hefty fines and potential liability in private civil suits, individuals within JPMorgan and other similarly culpable financial institutions have escaped accountability.
 
JPMorgan's misconduct seriously harmed investors, wreaked havoc on our nation's financial security, and continues to have painful effects on homeowners in Arizona and around the country.  Any government response relating to these events must hold the proper institutions and individuals accountable.  In matters involving major corporate malfeasance, individual accountability is vital to deterring similarly severe misconduct by financial institutions and their officers, directors, or key employees in the future.  Government enforcement actions must no longer be viewed by institutions and their management teams as simply the cost of doing business.
 
With this in mind, please provide responses to the following questions when the settlement agreement is announced:

1. Is the DOJ considering requiring admissions of wrongdoing on the part of any individuals within the bank as part of the settlement negotiations?  If not, why not?
 
2. Will the settlement agreement with the company preclude either civil or criminal enforcement action against individuals at JPMorgan? Why or why not?
 
3. Will you seek to hold any top officer, director or key employees within JPMorgan personally accountable for the wrongdoing?
 
4. Please describe how each of the following will be determined and structured in any potential settlement.

a. Penalties
b. Fines
c. Disgorgement
d. Compensatory damages and/or restitution
e. Admissions of wrongdoing

5. How will the DOJ ensure that the settlement provides the proper relief for consumers?
 
6. Will any settlement reached specify whether JPMorgan is permitted to receive a tax deduction or favorable tax treatment for any resulting restitution, fines or penalties, or will such a determination be left to the IRS?  How will this decision be reached? If deductions are permitted, please specify which aspects of the proposed settlement will be given favorable tax treatment.

Thank you for your timely response to this matter. If you have any questions or concerns, please contact Stephanie Hall, Counsel to the Minority, Permanent Subcommittee on Investigations, at 202/224-XXXX.
 
Sincerely,
 
John McCain
Ranking Member
Permanent Subcommittee on Investigations

 

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Mon, 09/30/2013 - 17:17 | 4007142 spinone
spinone's picture

Whoever the cooperating witness is, he better not get in any small planes.

Mon, 09/30/2013 - 17:19 | 4007151 traditionalfunds
traditionalfunds's picture

He is a she.

Mon, 09/30/2013 - 17:27 | 4007178 Motorhead
Motorhead's picture

Yeah, this lady had better avoid all bodies of water, including whirlpools, bathtubs, and hot tubs, just to name a few.

But, c'mon, do we really believe the Feds will do anything to the JP Morgue?  (Or, did JPM pee in someone's corn flakes and is now getting some "feedback"?)

Mon, 09/30/2013 - 17:52 | 4007268 MisterMousePotato
MisterMousePotato's picture

Glass of water. Raindrops. Perspiration.

Mon, 09/30/2013 - 18:14 | 4007286 gmrpeabody
gmrpeabody's picture

God..., I love to watch JPM squirm.

btw... Holder is never called in until they are needing evidence to be destroyed/lost.

Mon, 09/30/2013 - 18:21 | 4007323 xtop23
xtop23's picture

Give me a break. No one that matters will do a single nanosecond behind bars. A couple of token little fish, settlement with no admittance of guilt, and business as usual.

This is a shakedown, plain and simple. Move along.

Mon, 09/30/2013 - 18:37 | 4007351 Pure Evil
Pure Evil's picture

What McCain really mean to write:

Dear Mr. Attorney General:

    As an esteemed member of an elite criminal organization commonly referred to as the US Senate.

    And, having been indicted as a co-conspirator, although not a convicted member, of the Keating Five scandal (thanks daddy).

    I hereby request that you sweep this scandal under the rug as you have so deftly swept all of Ohomo's scandals under the rug since 2009.

    Thanks again homey and peace out.

Sincerely,

     Your recovering criminal warmongering psychopath, John McCain, JAE

Mon, 09/30/2013 - 23:30 | 4008308 philipat
philipat's picture

DOJ might like to ask the whisteblower about Gold manipulation also? Oh no, I forgot, The Fed and BIS are above the law. Case closed. What a fucking joke the whole thing has become.

Tue, 10/01/2013 - 07:49 | 4009077 Triggernometry
Triggernometry's picture

Now we know who really matters in the Senate. Stephanie Hall for President

Mon, 09/30/2013 - 18:42 | 4007364 DeadFred
DeadFred's picture

You're missing the point. The banks own the government, what does it mean that DOJ is even pretending to do this? Some new dynamic has entered into play for this to happen at all. The squid is making a power play on the morgue? It's time to tank the market? Somethings up.

Mon, 09/30/2013 - 19:11 | 4007456 eatthebanksters
eatthebanksters's picture

Think about it...Lanny Breuer did not go after any of the TBTF banks because Obama and Holder did not want to disrupt the economy (or so they say - but they knew it was fucked up and disregarded the law).  Now, with the fucking mess of his own creation, Obama is looking for someone, anyone, as th culprit responsible for the coming implosion. What better target than a TBTF bank?  So how does he look good?  Going after th corrupt TBTF bank/s.  IMHO the reason Holder is meeting with Dimon is to discuss how Dimon walks after they take down the bank...Holder is telling Jamie,"you make the bank the bad guy in all this and we'll figure out how to make you look good and walk away without a problem.'  Just sayin...

Mon, 09/30/2013 - 20:23 | 4007725 Omen IV
Omen IV's picture

so why Chase on this issue and not Country Wide and Mozzillo - the poster boy for giant scale fraud end to end - stuffing the CDO's for the downstream CDS shorts with entire branch offices cut and paste boiler rooms

 - why did they let him go? there were countless whistleblowers available - why?

Mon, 09/30/2013 - 23:46 | 4008355 Real Estate Geek
Real Estate Geek's picture

They don't want to upset the BAC applecart just yet.  Its depositors will be needed when Merrill's derivatives portfolio implodes.  http://tinyurl.com/3uoodmr

Mon, 09/30/2013 - 20:36 | 4007765 Ranger4564
Ranger4564's picture

You are giving him too much personal privilege and credit. The guy is a pawn of the Bankers.

Mon, 09/30/2013 - 20:39 | 4007773 Ranger4564
Ranger4564's picture

I'm with you DeadFred... as I've said many times before... GS was intended to be one of the last standing banks, perhaps BOE will be the last, who knows, but JPM will be taken down at the appropriate time, when the markets are crashing, FED pulls the plug, and War commences... JPM controls a vast amount of transactions and funds, all of which will be funneled to the Oligarchs... it will devastate the markets, bringing with it many other banks, and cripple most nation states as their banks fail. People will be dying by the billions.

Something is definitely up. Collusion in corruption.

 

Mon, 09/30/2013 - 18:23 | 4007324 WillyGroper
WillyGroper's picture

I wonder what the rat's return will be? 

McCain forgot one little detail. WTF wasn't the NSA putting a stop to this to begin with? They've got the skinny on the whole planet.

We all know why. 

Den of thieves.

Mon, 09/30/2013 - 19:05 | 4007435 Eeyores Enigma
Eeyores Enigma's picture

Whats her Paypal account info?

I want to chip in $100.

Just think if all whistleblowers got flooded with millions in donations.

Think anymore might come out?

Mon, 09/30/2013 - 19:42 | 4007507 sunaJ
sunaJ's picture

Funny how this gal - perhaps because it is anything but daring to call her anything else even sarcastically by this webstite - a rat.  Perhaps Tyler would like to amend their statement and consider this person a patriot (?)  Not that it matters, as we are living in a fascist state, where the corporate and public entities are so enmeshed that you cannot tell when you have a rat or a patriot.  I'm just sayin' that when you have those that are willing to speak against corruption, you shouldn't refer to them as rats.  Fuck ZH's headline aggregator, though...

 

Mon, 09/30/2013 - 17:53 | 4007271 malikai
malikai's picture

Don't worry guys!

John McCain is on this thing..

LOL

Mon, 09/30/2013 - 20:42 | 4007777 max2205
max2205's picture

It's probably a syrian or snowden

Tue, 10/01/2013 - 13:56 | 4007747 Ranger4564
Ranger4564's picture

The point of the DOJ revelations was not to imply something would be done to JPM... we know who owns whom... the point was to identify the squealer by gender and actions, so the assasins can pinpoint whom to target to ensure silence.

I was just telling some friends, I hope the next article is not about this woman committing suicide by driving down a steep cliff with no brakes, while on her way to a dinner with her recent fiance.

I believe the Morgue has already figured out who the informant is, and is now working on the silent treatment, so to ... .

And the McCain letter... nice cover story. Honestly, we tried to pursue the scoundrels, but their bribes were too difficult to ignore.

Mon, 09/30/2013 - 18:10 | 4007257 Normalcy Bias
Normalcy Bias's picture

She is likely going to become Frankie Pentangeli.

Mon, 09/30/2013 - 20:03 | 4007661 BanksterSlayer
BanksterSlayer's picture

this couldn't possibly be Blythe, could it???

Mon, 09/30/2013 - 20:32 | 4007753 Ranger4564
Ranger4564's picture

That would be spectacular... double agent like intrigue. Nice suggestion.

Mon, 09/30/2013 - 20:43 | 4007781 Downtoolong
Downtoolong's picture

The revenge of Ina Drew perhaps?

Dibs on the movie rights.

 

Mon, 09/30/2013 - 17:30 | 4007193 bonin006
bonin006's picture

And she better have 24 hr surveillance on her car to be sure no thermite gets into it.

Mon, 09/30/2013 - 17:42 | 4007243 doggings
doggings's picture

they dont need thermite they can just hack the car and full throttle you into a tree. 

http://www.youtube.com/watch?v=dUYMPZ4nEOY

definitely beware people bearing gifts of brand new Mercedes though

Mon, 09/30/2013 - 17:55 | 4007276 bonin006
bonin006's picture

That's why my car has direct mechanical throttle, steering and brake control.

Mon, 09/30/2013 - 23:53 | 4008398 bonin006
bonin006's picture

Engines don't jump out of cars in anticipation of a crash from hacking the controls, and cars very rarely catch on fire no matter how severe the crash. There is a good chance he would of survived if he hadn't been incinerated (assuming he was wearing seat belts, even if they could hack off the airbags)

Mon, 09/30/2013 - 20:10 | 4007679 robertsgt40
robertsgt40's picture

Too bad McCain wasn't this straight forward during the Keating Five years

Mon, 09/30/2013 - 17:18 | 4007143 Xibalba
Xibalba's picture

Fuck you Jamie

Mon, 09/30/2013 - 17:49 | 4007264 eatthebanksters
eatthebanksters's picture

Corzine next...then he and Jamie can play bitch for some trash in the Big House.

Mon, 09/30/2013 - 17:54 | 4007274 Canadian Dirtlump
Canadian Dirtlump's picture

I agree wholeheartedly, but anything walnuts mccain is involved in I'd fukkin run the other way from, or at least view with as much skepticism I could possibly muster.. Let's not forget that a few decades ago, before McCain was given leave of his sanity and focused on aiding al quaeda, his brand of corruption was financial - specifically enabling some of the savings and loan crisis.

http://www.youtube.com/watch?v=IDofbll86dY

 

Given the above, my bet, is this is a fan dance of some sort.

Mon, 09/30/2013 - 18:40 | 4007360 PeeramidIdeologies
PeeramidIdeologies's picture

I find this drama to be rich and flavourful. The addition of a high profile politician taking a position against jpm is something to be noted IMO

I am also of the opinion JPm is in much deeper water then is being let out at the moment. They have been involved in a steady onslaught of high profile legal battles for a couple years now, and to have a face like McCain attach it's self seems intriguing to say the least. This bank would be tits up if their actions were fully disclosed to the public, and I for one, am lookin forward to the day.

Make em pay DOJ

Mon, 09/30/2013 - 19:33 | 4007533 DosZap
DosZap's picture

Make em pay DOJ

That would truly be the day,but who on this site in their right mind thinks,the pot is gonna prosecute the kettle?.Not me.

Mon, 09/30/2013 - 17:22 | 4007162 22winmag
22winmag's picture

Fucking slimy prosecutors couldn't convict a fly for landing on a piece of shit without a snitch.

Mon, 09/30/2013 - 17:23 | 4007165 bunnyswanson
bunnyswanson's picture

Whale to a rat?  Why not whale to a ~whistleblower~?????  Rats are scavengers.  We know who the scavengers are and it is not the person who blew the whistle.  Want an example of a rat?  A rat is one who prevents a long prison term by ratting out his accomplices in criminal activity. 

 

So, why RAT?  ARE YOU TRYING to give a bad name to whistleblowers? 

Mon, 09/30/2013 - 17:28 | 4007181 Motorhead
Motorhead's picture

I always thought rats were clever little rodents.

Mon, 09/30/2013 - 17:37 | 4007230 JohnG
JohnG's picture

But they can live thier entire lives without ever seeing daylight.  Really.

Mon, 09/30/2013 - 17:38 | 4007233 venturen
venturen's picture

She is going to be ONE WEALTH HERO WHISTLE BLOWER. Hey all you wall streeters want to make the real money...look at some recent whistle blower cases....she is in line for at least $100 Million!

Mon, 09/30/2013 - 19:58 | 4007644 Restcase
Restcase's picture

Whistleblowing from inside JPM with Obama in charge is like a Soviet volunteering to spy for the USA in the days of Ames and Hansen. Shelf life, not so good. Someone at Justice will expose this person.

As the fourth stooge might say, "Not in accordance with safer Chinese citizenish practices!"

Mon, 09/30/2013 - 17:24 | 4007167 WTFUD
WTFUD's picture

Banged to Rights X 100 and we still haven't found what we're looking for.

Mon, 09/30/2013 - 17:26 | 4007172 lolmao500
lolmao500's picture

Take their bank chart away. Kill JPMorgan already. Those fucks need to hang.

Mon, 09/30/2013 - 17:26 | 4007174 assistedliving
assistedliving's picture

why is it the only people with balls in this country are women...

Mon, 09/30/2013 - 17:50 | 4007263 pndr4495
pndr4495's picture

This post reminds me of what Betty White is rumored to have said : " I hate it when people say why don't you grow some balls - how about growing a vagina ? Those things take a pounding."

Mon, 09/30/2013 - 18:28 | 4007343 WillyGroper
WillyGroper's picture

Could it be oppression?

Damaged ovaries from being allowed to drive?

Bwwwwwaaaaaaaaaaaa

Mon, 09/30/2013 - 17:27 | 4007175 ebworthen
ebworthen's picture

I'll celebrate when every TBTF bank files bankruptcy, is liquidated, and expunged from the face of the Earth.

And when all the crooks on Wall Street are actually prosecuted and put in jail for breaking the law - instead of 19 year old kids with a dime bag of pot.

12th of never probably, but I can dream, can't I?

It will be one hell of a celebration.

Mon, 09/30/2013 - 17:25 | 4007176 optimator
optimator's picture

If Jamie went States Evidence they wouldn't even touch him.

Mon, 09/30/2013 - 17:28 | 4007188 mayhem_korner
mayhem_korner's picture

 

 

No death is good enough for Jamie...even if he suffered like Quint or the dude in Fargo, he'd be getting off easy.

Mon, 09/30/2013 - 18:08 | 4007298 shovelhead
shovelhead's picture

Eeww. Woodchipper.

Jaime's turned to scum.

Mon, 09/30/2013 - 17:26 | 4007177 Cognitive Dissonance
Cognitive Dissonance's picture

"I smell a skunk in the wood pile." - Jamie

Mon, 09/30/2013 - 17:32 | 4007200 mayhem_korner
mayhem_korner's picture

 

 

How 'bout "Jamie's wood smells like a skunk's pile"...?

(ick)

Mon, 09/30/2013 - 19:45 | 4007578 williambanzai7
williambanzai7's picture

No, the skunk said, I smell that shit Jamie in that shit pile.

Mon, 09/30/2013 - 17:26 | 4007179 Randoom Thought
Randoom Thought's picture

Is there a swimming pool accident, heart attack or mysterious car accident ahead in the whale's future? My guess is no ... no one at the top wants to be exposed for what they are ... and the whale will take the money and shut up.

Mon, 09/30/2013 - 17:28 | 4007182 mayhem_korner
mayhem_korner's picture

 

 

In a hopeful moment, I'm applying some WD-40 to the gallows.

(If we can't get Jamie in there, I can use it to halve some of my fall squash...) 

Mon, 09/30/2013 - 18:47 | 4007378 bonin006
bonin006's picture

I don't think that word means what you think it means.

Mon, 09/30/2013 - 17:30 | 4007189 Paracelsus
Paracelsus's picture

No fines this time.Long prison sentences or don't bother.It is either real or all for show...

Will not,repeat will not reduce the number of pitchforks and torches on the street.

Also,this will not reduce the pile of $400 trillion in derivatives contracts they are sitting on.

They need to be done for market manipulation,but that will never happen.

Nice to see that someone is willing to wear a "wire". (Underwire bra?).

Rats are leaping off the ship,safety in numbers? They can't "Michael Hasting" everyone.

Still,stay away from malfunctioning hot tubs and wood chippers...

Mon, 09/30/2013 - 17:30 | 4007190 Doubleguns
Doubleguns's picture

John McCain
Ranking Member
Permanent Subcommittee on Investigations

 

Yes he smells a lot but I never realized he was a permanent fixture in Washington./s

Mon, 09/30/2013 - 17:32 | 4007197 lolmao500
lolmao500's picture

Don't just shut down the government, burn it down with all the furniture in it.

Mon, 09/30/2013 - 18:12 | 4007302 shovelhead
shovelhead's picture

McCain:

"Fuck it. They won't let us bomb Syria? I'm taking out JP Morgan. Someone gotta die."

Mon, 09/30/2013 - 17:29 | 4007194 SillySalesmanQu...
SillySalesmanQuestion's picture

That rat has'nt been fed any cheese lately... Feed Jamie & Blythe to the sharks.

Mon, 09/30/2013 - 17:36 | 4007206 Deathrips
Deathrips's picture

The morons go marching one by one ...hurah..hurah.

 

The wrecking ball is in motion..all the fear wont stop its momentum..this time I hope.

 

Fuck You Obama. Fuck you BonER. Fuck you Bernanke. Fuck you Reid. Fuck You Cruz. Fuck you Dimon. Fuck you Masters. Fuck em. Fuck all you, leach slime fucks.

 

I saw a post that it costs 17 billion a day to keep the govt running, if we can believe the employment numbers whats the cost per person working per day? Is it worth it? Id say not.

 

I speak the govt..cause they back the banks. Probably a 50 billion dollar settlement comming, straight to the leaches pockets.

RIPS

Mon, 09/30/2013 - 17:33 | 4007208 Nephilim
Nephilim's picture

Fuck HerrDimon

Mon, 09/30/2013 - 17:33 | 4007212 Quinvarius
Quinvarius's picture

The CME is still getting paid by Jamie and getting his business.  They don't want to stop the flow.  Anyhow, the beatings will continue until Jamie the liability is gone.

Mon, 09/30/2013 - 17:35 | 4007223 venturen
venturen's picture

About time....there are so many crooked deals WHAT TOOK THEM SO LONG.

Mon, 09/30/2013 - 17:37 | 4007224 pndr4495
pndr4495's picture

I wonder how incensed that golden spooner David Rockefeller has become.  But then again he may have set aside his money and his family's money from this day to day drama via the " charitable foundation " route. 

Mon, 09/30/2013 - 17:35 | 4007226 11b40
11b40's picture

So, why doesn't this open them up to crippling civil law suits for damages done to the investors?  It seems like they could be sued for some huge sums....both actual and punative.  Any lawyers out there who can explain the options a damaged party may have?

Mon, 09/30/2013 - 18:15 | 4007311 bank guy in Brussels
bank guy in Brussels's picture

Re: Options of 'damaged party' in US bank misconduct

Depends on - what are political connections / previous bribes and campaign contributions paid by 'damaged party' ?

If political connections / previous bribes are strong, no need to even ask ... contact your lawyers who were paying the bribes and see what 'deal' is available

Otherwise

Option A - Submit to fact that bribed judges in America, work for banks and the oligarchs (see MF Global, Sentinel, Peregrine Financial ... )

Option B - Refuse to submit to bribed judges, waste your money with lawyers who steal it from you, and get case dismissed after you are bankrupt from legal fees and 'taking it all the way to the Supreme Court' who won't hear your appeal

 

Mon, 09/30/2013 - 18:27 | 4007333 11b40
11b40's picture

Roger that, for folks like you & me (well, me anyway), but there should be some pension funds or hedge funds w/deep pockets who would like a big score.

Mon, 09/30/2013 - 18:43 | 4007371 WillyGroper
WillyGroper's picture

Where's Davey Jones been?

Mon, 09/30/2013 - 17:38 | 4007229 jmcadg
jmcadg's picture

WTF. Holder is running cap in hand to Dimon, whilst the DOJ is investigating JPM.

This mutherfucker is a crooked as it gets.

Amazingly I'm not referring to Dimon. Who I hate with a passion, the smarmy cunt.

Mon, 09/30/2013 - 17:41 | 4007240 RaceToTheBottom
RaceToTheBottom's picture

Seems to view his job as running a criminal syndicate.

 

Mon, 09/30/2013 - 17:43 | 4007245 quasimodo
quasimodo's picture

Don't forget, he's richer than you

Mon, 09/30/2013 - 17:40 | 4007235 buzzsaw99
buzzsaw99's picture

jesus, they should just go ahead and paint a target on her back

Mon, 09/30/2013 - 17:39 | 4007236 kragsquest
kragsquest's picture

"Whistleblower" not a "rat";  that sort of nomenclature is why we are going down the tubes, no one wants to turn the crooks it!!!

Mon, 09/30/2013 - 17:45 | 4007256 NOTaREALmerican
NOTaREALmerican's picture

Re:  that sort of nomenclature is why we are going down the tubes

Yes indeed.    The worship of authority runs deep in humans.    

"The king not having any clothing" was known to all, but - really - who can question the king and the court?

Mon, 09/30/2013 - 19:27 | 4007511 DosZap
DosZap's picture

In this admin,perception, is the new reality.Going after them huh?,sounds real good,let's see some wieners whacked then I would believe it.

Mon, 09/30/2013 - 17:39 | 4007238 logicalman
logicalman's picture

It's all just theatre with a few scapegoats to keep the non-thinkers believing the story.

None of the 'Connected' will come to justice until people wake up. Then we'll have something to look at!

Mon, 09/30/2013 - 17:40 | 4007239 epwpixieq-1
epwpixieq-1's picture

Long live the Rats and hopefully they will not be eaten buy the house-keeping cats that are richer than you.

Mon, 09/30/2013 - 17:43 | 4007244 Serfs_Up
Serfs_Up's picture

Nothing will change.  Scraps of meat for the 99%. Fuck Jamie Dimon et al

Mon, 09/30/2013 - 17:42 | 4007247 WallowaMountainMan
WallowaMountainMan's picture

"Sincerely,
 
John McCain
Ranking Member
Permanent Subcommittee on Investigations"

 

sounds like johnny did not get his fair share of contributions.

 

:)

Mon, 09/30/2013 - 18:48 | 4007376 WillyGroper
WillyGroper's picture

He's rank alright.

Mon, 09/30/2013 - 17:43 | 4007250 RaceToTheBottom
RaceToTheBottom's picture

Does this mean she was a survivor from the WAMU gift that the US gov gave Jamie?

 

That was a major part of the escalation of Bankster corruption that WS showed:  everyone of them were screaming for a Jamie deal, "Give me a Jamie deal"

Mon, 09/30/2013 - 17:46 | 4007255 y3maxx
y3maxx's picture

McCain's letter is all for show...nothing to see here folks, move along.

Mon, 09/30/2013 - 19:47 | 4007585 williambanzai7
williambanzai7's picture

I think Levi Johnston wrote that letter.

Mon, 09/30/2013 - 17:48 | 4007262 0b1knob
0b1knob's picture

< She's a patriot sticking it to the banksters.

< She's a backstabbing rat.

Mon, 09/30/2013 - 17:52 | 4007273 bearish1
bearish1's picture

SOMEONE is going to get suicided!! NO ONE messes with Jamie and gets away with it! 

THE CUFFLINKS!! 

Mon, 09/30/2013 - 17:56 | 4007280 Kirk2NCC1701
Kirk2NCC1701's picture

I'm waiting for the Whale vs. Giant Squid tumble in the Octogone-Tank.

I'll be the sloshed captain on the side.

Mon, 09/30/2013 - 18:00 | 4007283 Bastiat
Bastiat's picture

I'm sure Eric Holder will make sure not a hair on her head is harmed!

Mon, 09/30/2013 - 19:11 | 4007459 Constitutional ...
Constitutional Republic's picture

This time, it is different. That bitch Holder will be left holding the bag if he crosses this line of honest inquiry and exposure. Good. Bring it on, the sooner the better.

Mon, 09/30/2013 - 23:25 | 4008289 Tijuana Donkey Show
Tijuana Donkey Show's picture

Bahhhhaaaahhahaahahaha! You used Holder and honest in a sentance together. 

Mon, 09/30/2013 - 18:12 | 4007305 NIHILIST CIPHER
NIHILIST CIPHER's picture

DOJ has witness..................................witness spills guts.............................JPM fined tiny amount compared to amount they stole......................... nobody goes to jail..............................later DOJ guys go out to for lavish dinner and cocktails with JPM guys and laugh about how it just gets easier and easier. Same as it ever was!

Mon, 09/30/2013 - 18:16 | 4007315 uranian
uranian's picture

Criminal charges against a bank? Anyone actually believe that will ever happen?

Mon, 09/30/2013 - 18:20 | 4007320 shovelhead
shovelhead's picture

" Yo. New Black Panther HQ."

"We need to talk."

"Yo Eric, Wassup?"

"Dammit! No names on the phone...Fuckin nitwit"

Mon, 09/30/2013 - 18:23 | 4007328 Ratscam
Ratscam's picture

all rats, expose the scam!
ratscam

Mon, 09/30/2013 - 19:06 | 4007424 Constitutional ...
Constitutional Republic's picture

You got that right, brother/sister. It is a fatal mistake for money masters to imagine that their employees are as venal as they.

Tip hat to Mr Maquire who gave a safe have for JPM employees to speak truth to power, without fear. And another tip hat to kingworldnews for telling the story straight, long before wsj.

Mon, 09/30/2013 - 18:24 | 4007329 lostintheflood
lostintheflood's picture

finally...

Mon, 09/30/2013 - 18:53 | 4007391 Constitutional ...
Constitutional Republic's picture

Let's get this Party started. The JP Morgue snitch is correct, and so is this:

http://www.wnd.com/2013/09/truckers-roar-to-d-c-with-impeachment-movement/

If you want a peaceful, cost free way to support your independence, then support the JP Morgue snitch, and the truckers. 

Buy whatever you want before Oct. 11, then buy nothing for 3 days.

Send a money message to the freak CONgress critters, and their foreign handlers.

No taxation without representation.

Mon, 09/30/2013 - 18:53 | 4007392 earleflorida
earleflorida's picture

"John McCain Lies About Keating Five"      10/6/08  by  Barbara Morrill       http://www.dailykos.com/story/2008/10/06/621989/John-McCain-Lies-About-Keating-Five

'those who cast the lessons of history aside... cast not their futures into the abyss, but rather the insanity of time... replete with past... and yes, future mistakes-- hardwired into humanity's breed for contempt... embedded, subcutaneous dissonance, the bitter-sweet taste of abstinance, that of a contemporary darwin`catharsis--  knowing quite, that tragedy can't be learn'd by books, sages, or an innocuous tell-tale of prejudiced history'-- but rather the gift of ignorance as the ageless pheonix reincarnates oneself always from ashes to dust'd`clay-- recycling yet another varible for chance at the ultimate constant-- immortality?'

Mon, 09/30/2013 - 18:56 | 4007405 Constitutional ...
Constitutional Republic's picture

Young McCain's Vietnamese captors called him the Songbird, for all his betrayal of his countrymen.

Nothing changes. He is a traitor, then and now. So is John Kohn, aka John Kerry, the Yale Skull and Bones Club man, allied to the Bush master nazionists.

Mon, 09/30/2013 - 19:04 | 4007430 earleflorida
earleflorida's picture

http://www.dailykos.com/story/2008/10/06/621989/-John-McCain-Lies-About-Keating-Five

:-(          McCain is the 'True' wolf in sheeps clothing,... and, guarding the chicken-house of TBTF's !!!

jmo

Thankyou Tyler

Mon, 09/30/2013 - 19:07 | 4007440 Constitutional ...
Constitutional Republic's picture

An honest contribution again from you, 'earleflorida'. 

Mon, 09/30/2013 - 19:24 | 4007504 SubjectivObject
SubjectivObject's picture

The article states: "...settle for as much as $4 billion in cash (with a $7 billion non-cash component) ..."  Days earlier, I had seen that reported as 7B in cash and 4B on noncash.  Something changed to improve the settlement for the criminal bank? 

Mon, 09/30/2013 - 19:38 | 4007554 Atlantis Consigliore
Atlantis Consigliore's picture

Jamie, dear, your going to have to take one up the ass, like John, for the bank, on this one.....   the little people must never know.

Mon, 09/30/2013 - 19:38 | 4007556 New American Re...
New American Revolution's picture

How come McCain's letter did not ask if there were any indictments coming against any government officials involved in the case, too?

Mon, 09/30/2013 - 19:43 | 4007582 jonjon831983
jonjon831983's picture

"Exclusive: JPMorgan settlement complicated by Washington Mutual - sources"

 

http://www.reuters.com/article/2013/09/30/us-jpm-probes-fdic-idUSBRE98T18M20130930?feedType=RSS&feedName=topNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=992637

 

"Rosner estimates that an indemnification deal for JPMorgan would force the FDIC to assume $3.5 billion in claims against JPMorgan by the Federal Housing Finance Agency over Washington Mutual mortgage securities. Sources have said the FHFA claims against Washington Mutual are part of the global settlement negotiations."

 

Interesting... how much $ does FDIC have?

Mon, 09/30/2013 - 19:47 | 4007593 DosZap
DosZap's picture

Interesting... how much $ does FDIC have?

Last I read 27-33 Billion, or as much as Bennie wants to give them.

Mon, 09/30/2013 - 20:14 | 4007695 Optimusprime
Optimusprime's picture

Where is Goldman in all this?

Mon, 09/30/2013 - 20:35 | 4007760 venturen
venturen's picture

PLAYING THE PUPPET MASTER...strike that MUPPET MASTER! Heck they kept Jon "caught red handed" Corzine out of jail...no one thought that was possible!

Mon, 09/30/2013 - 21:19 | 4007897 RSDallas
RSDallas's picture

So true. Where are they? They are in charge.

Mon, 09/30/2013 - 20:32 | 4007756 venturen
venturen's picture

Mccain did something right...this might be the end of the universe as we know it!

Mon, 09/30/2013 - 21:04 | 4007847 Lmo Mutton
Lmo Mutton's picture

 

"The woman who wrote that email has been cooperating with federal authorities and is expected to be available as a witness if the government ever brings a case to court, these people said."

 

In other news another Mercedes has exploded into flames blowing the engine 100' from the crash site and not leaving any damage to the palm tree that it impacted....

Mon, 09/30/2013 - 21:17 | 4007893 RSDallas
RSDallas's picture

Jamie is going to learn that you only speak if asked to speak when the government is speaking. Jamie, you should have kept your mouth shut. Do not challenge the government. They, along with the Fed, do not care to listen to your rants. I suspect that the Fed and JP Morgan are being targeted and make no doubt about it, the government will bring them down.

Tue, 10/01/2013 - 04:26 | 4008898 SmittyinLA
SmittyinLA's picture

Like they need a "leaker" they have mountains of failed loan evidence.

Tue, 10/01/2013 - 05:22 | 4008921 Sufiy
Sufiy's picture


Max Keiser: CFTC Investigation And JPMorgan Whistleblowers on Gold And Silver Manipulation.


 The "results" of CFTC "investigation" in Gold and Silver manipulation stink to the high heaven. With JPMorgan being involved in manipulations in Libor, Energy and other markets and talking now about the 11 billion settlement on Mortgage market manipulations, the idea that CFTC can not find any evidence of Gold and Silver markets manipulations does not fit well with more and more facts coming to the surface. http://sufiy.blogspot.co.uk/2013/09/max-keiser-cftc-investigation-and.html# Matt Taibbi: Is JPMorgan Too Big To Chase? Will The Gold Market Manipulation Be Exposed Next?

"Matt Taibbi continues his brilliant reporting on the world of shadows and "New Normal" on the Planet Ponzi. We are just patiently waiting now when the revelations about the Gold manipulations will hit the mass media." 

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