This page has been archived and commenting is disabled.

Dear Jamie Dimon: This Is Why US Banks Are "Under Assault"

Tyler Durden's picture




 

Earlier today, during the JPM conference call, when Jamie Dimon wasn't busy explaining why the Q4 earnings presentation was sorely missing the page showing JPM's latest Net Interest Margin, a staple placeholder page in the presentation appendix, he found time to lament something totally different. As Bloomberg reports, Dimon lashed out at U.S. regulators for putting his bank "under assault."

"We have five or six regulators or people coming after us on every different issue,” Dimon, 58, said today on a call with reporters after New York-based JPMorgan reported fourth-quarter results. “It’s a hard thing to deal with."

"In the old days, you dealt with one regulator when you had an issue, maybe two. Now it’s five or six. It makes it very difficult and very complicated. You all should ask the question about how American that is. And how fair that is. And how complex that is for companies.”

We don't know how American, or how fair, or how complex, but we know why. The reason: JPMorgan and the rest of the world's banks have now become the world's biggest organized crime syndicate.

The evidence? $178 billion in government kickbacks to keep their criminal scheme going for the past 5 years: something which none other than the BCG called a "cost of doing business" - criminal business that is.  And as of this morning, another "unexpected" $1 billion more, thanks to you.

 

So yes, when dealing with the mob, the US government has every right to "assault" what is nothing but an orgized group of well-connected criminals.

And lest we forget, the flipside to the $178 billion - and counting - in legal fees: not a single banker in prison, something which every American has to thank Eric Holder for, because the US Attorney General has shown that when it comes to money and power, there truly is justice, and then there is just us. 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 01/14/2015 - 12:19 | 5660203 SpanishGoop
SpanishGoop's picture

"We have five or six regulators or people coming after us on every different issue,”

Don't complain all you fucks should be in jail.

 

Wed, 01/14/2015 - 12:23 | 5660223 Timmay
Timmay's picture

One nail gun will not be enough.....

Wed, 01/14/2015 - 12:24 | 5660234 holgerdanske
holgerdanske's picture

 


Vote up!

0
Vote down!

0

One nail gun will not be enough.....

 

Ha ha, you nailed that one, for good.

Wed, 01/14/2015 - 12:38 | 5660263 hedgeless_horseman
hedgeless_horseman's picture

 

 

“The bank hath benefit of interest on all moneys which it creates out of nothing.”

 

William Paterson, founder of the Bank of England in 1694, then a privately owned bank.

 

“Let me issue and control a nation’s money and I care not who writes the laws.”

 

Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

 

“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.”

 

The Rothschild brothers of London writing to associates in New York, 1863.

 

“I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people.”

 

Reginald McKenna, as Chairman of the Midland Bank, addressing stockholders in 1924.

 

“The banks do create money. They have been doing it for a long time, but they didn’t realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create it.”

 

H W White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.

 

“It is well enough that people of the nation do not understand our
banking and money system, for if they did, I believe there would be a
revolution before tomorrow morning.”

 

Henry Ford, founder of the Ford
Motor Company.

 

The real truth of the matter is,as you and I know, that a financial element in the large centers has owned the government ever since the days of Andrew Jackson.

 

-Franklin D. Roosevelt
(in a letter to Colonel House, dated November 21, 1933)

 

If the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks…will deprive the people of  all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

 

Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

 

“I believe that banking institutions are more dangerous to our liberties than standing armies.”

 

Thomas Jefferson

 

Read this book.


Wed, 01/14/2015 - 12:39 | 5660327 whotookmyalias
whotookmyalias's picture

Makes perfect sense, especially the part about how the average person doesn't give a shit.  No other way to explain what we've become.

Wed, 01/14/2015 - 12:44 | 5660345 hedgeless_horseman
hedgeless_horseman's picture

 

 

No other way to explain what we've become.

Who mean, "we," white man?

  1. Work a productive job.
  2. Spend less than earned.
  3. No debt.
Wed, 01/14/2015 - 12:44 | 5660356 Its_the_economy...
Its_the_economy_stupid's picture

Ha sanyone but me noticed that quotes regarding the creation of debt money by the banking industry are non-existant after the Poosevelt administration. Its like the topic never occured to anyone for 80 years.

Wed, 01/14/2015 - 13:00 | 5660438 whotookmyalias
whotookmyalias's picture

Sorry, HH. When I say "we" I mean society in general.  Even those of us who know better will be affected when this all blows up. We might be in better shape than the average person, but we'll be more like Rick Grimes on the walking dead than what our lives look like today.  There is no scenario where things get any better for me or my kids.  To win means to be less worse off than my neighbor.

Wed, 01/14/2015 - 13:53 | 5660728 outamyeffinway
outamyeffinway's picture

"not a single banker in prison"

 

Is that the new "American" way?

Wed, 01/14/2015 - 15:15 | 5661258 rocker
rocker's picture

Bambi is too scared of the banking cartel. They do get what they want afterall.   

Wed, 01/14/2015 - 15:27 | 5661333 Manthong
Manthong's picture

Banks are under assault because Dimon is richer than you.

https://www.youtube.com/watch?v=8G871csJS6Q

Wed, 01/14/2015 - 13:43 | 5660678 SuperRay
SuperRay's picture

The only prominent person who has spoken out about it was Ron Paul

Wed, 01/14/2015 - 12:47 | 5660365 sodbuster
sodbuster's picture

Eric Holder is the lawyer for the bankster mob, his job is to run interference.

Wed, 01/14/2015 - 15:03 | 5661154 power steering
power steering's picture

His friends call him  Dick

Wed, 01/14/2015 - 20:08 | 5662589 Taras Bulba
Taras Bulba's picture

Frontline ran a program several months ago, interviewed Holder's deputy, questioned why no consequences, no investigations, for criminal activity; his answer was that it would be too disruptive amongst the banks.  The deputy resigned the next day and went back to his law firm.  I will try to find the link.

Wed, 01/14/2015 - 20:52 | 5662738 Taras Bulba
Taras Bulba's picture

Here is the Frontline link-I still get pissed off when I watch the interview with the deputy:

http://www.pbs.org/wgbh/pages/frontline/untouchables/

Powerful program-Matt Tiabbi also writes some powerful stuff on these psychopathic crooks.

Wed, 01/14/2015 - 13:18 | 5660513 Equality 7-25-1
Equality 7-25-1's picture

4. Pay arbitrary mandatory taxes & mandatory insurance for everything you do legally and own legally, while competing with criminals who don't and State subsidized scabs who are exempt from these obligations.

Wed, 01/14/2015 - 14:53 | 5661085 Utah_Get_Me_2
Utah_Get_Me_2's picture

The definition of a CHUMP.

Wed, 01/14/2015 - 17:08 | 5661839 El Oregonian
El Oregonian's picture

JOKE OF THE DAY: Bob Pisani: "Volatility perfectly normal:"

And to think this guy still gets paid for this tripe...

Wed, 01/14/2015 - 17:57 | 5662081 Equality 7-25-1
Equality 7-25-1's picture

Edmond Dantes, I arrest you in the name of the law! I cannot inform you, but you will be duly acquainted with the reasons that have rendered such a step necessary at the preliminary examination.

Wed, 01/14/2015 - 12:47 | 5660360 medium giraffe
medium giraffe's picture

I did read that book.  Then I sort of wished I hadn't.

Wed, 01/14/2015 - 13:12 | 5660498 Milestones
Milestones's picture

H.H. nice summation of our stuation. We've already had the butter--now when are TPTB going to try the gun part. Guess wew'll have to wait and see just how stupid these people really are.            Milestones 

Wed, 01/14/2015 - 13:20 | 5660544 Stained Class
Stained Class's picture

5th Edition has updates to 2010. Required reading.

Wed, 01/14/2015 - 12:27 | 5660252 NotApplicable
NotApplicable's picture

Perhaps it's time to break out the shitgum for this orgized group?

How else does one deal with such clusterfucks?

Wed, 01/14/2015 - 13:31 | 5660596 KnuckleDragger-X
KnuckleDragger-X's picture

guillotine or hanging, dealers choice....

Wed, 01/14/2015 - 12:46 | 5660369 divingengineer
divingengineer's picture

And ONE nailgun to rule them all!!!!!

(Insert maniacal laugh) 

 

Wed, 01/14/2015 - 13:37 | 5660624 HowdyDoody
HowdyDoody's picture

Not even if it is super-sized?

Wed, 01/14/2015 - 12:24 | 5660238 actionjacksonbrownie
actionjacksonbrownie's picture

Like moths to a light.

 

He's just pissed that the "cost of doing business" is rising exponentially as he has to bribe/pay off 3 times as many people as in the past.

Wed, 01/14/2015 - 12:25 | 5660244 ZH Snob
ZH Snob's picture

poor jamie is tired of the cost of doing business.  he wants carte blanche, and for free!

Wed, 01/14/2015 - 12:28 | 5660267 williambanzai7
williambanzai7's picture

Wed, 01/14/2015 - 12:33 | 5660290 Ghordius
Ghordius's picture

considering the fact that all the yes-men this Master of The Universe has around him always tell anybody that cares to hear that Jamie Dimon is the only one man on Earth even remotely capable and experienced enough to captain this monstrosity called JPM...

I then suddently have to agree with the Vampire Squid Firmly Attached To The Face Of Humanity and conclude that JPM has to be split up (all megabanks, of course, but stay with me)

first, there is the danger Jamie Dimon might feel unwell, and the giant ship being without captain. clearly a no-go

second, there is this new "cost of business". clearly a case for a "bad bank", meaning one of the splitted banks carries all the "legacy risks" and faces the bad, bad "people coming after us"

seriously, it's incredible. this guy whining this way, I mean. I sometimes think he and his ilk are utterly detached from the reality of the consequences they heap on humanity

Wed, 01/14/2015 - 12:37 | 5660307 williambanzai7
williambanzai7's picture

Wed, 01/14/2015 - 12:54 | 5660401 Nobody For President
Nobody For President's picture

Jamie with a nail gun?

If only...

Wed, 01/14/2015 - 12:57 | 5660431 pods
pods's picture

I'd like to see him on the receiving end of a truncheon.

How's that for receivables Jamie?

pods

Wed, 01/14/2015 - 13:12 | 5660491 pelican
pelican's picture

I would rather see him in jail getting ass fucked on a daily basis by Bubba with gental warts.

Wed, 01/14/2015 - 14:01 | 5660781 Realname
Realname's picture

Or worse yet...gentile warts.

Wed, 01/14/2015 - 12:36 | 5660308 Bay of Pigs
Bay of Pigs's picture

Fuck all that. That maggot deserves a firing squad.

The Wall St. Banksters are the biggest crooks to ever walk the Earth.

Wed, 01/14/2015 - 12:56 | 5660427 divingengineer
divingengineer's picture

To die by firing squad is a Soldier's right.  Common criminals traditionally got the rope. Even Saddam was denied the right to die by firing squad.  

Wed, 01/14/2015 - 13:49 | 5660704 Utah_Get_Me_2
Utah_Get_Me_2's picture

I sometimes think he and his ilk are utterly detached from the reality of the consequences they heap on humanity.

Only sometimes Ghordius? At what points during your day do you think.. "You know what.. Jamie Dimon, et al.. really have this thing under control. They really do have it all figured out. They aren't megalomaniacal, money changing satan worshippers. I think I trust them to do the right thing."

Wed, 01/14/2015 - 14:00 | 5660771 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

There is only one MASTER OF UNIVERSE since March 10th 2008 @ 11:00am Bear Stearns New York time. Dimon, and JP Morgan Chase,

are following in the footsteps of Lehman, and Fuld. And Blankfein is correct that JP Morgan Chase should be broken up.

Wed, 01/14/2015 - 12:55 | 5660412 divingengineer
divingengineer's picture

Nobody ever said doing god's work would be easy Jamie. 

Wed, 01/14/2015 - 12:56 | 5660417 Nobody For President
Nobody For President's picture

Only 5 or 6? 

Wed, 01/14/2015 - 16:16 | 5661591 SaveTheBales
SaveTheBales's picture

Deleted

Wed, 01/14/2015 - 12:21 | 5660215 astoriajoe
astoriajoe's picture

Maybe it has something to do with why he's richer than me?

Wed, 01/14/2015 - 12:22 | 5660219 vegas
vegas's picture

It won't change until somebody at the top goes to prison; and you can bet President "Goldman Sachs" has no intnetion of that happening in his reign. Hell, if Corzine isn't in prison nobody is going anytime soon.

 

www.traderzoo.mobi

Wed, 01/14/2015 - 12:23 | 5660222 holgerdanske
holgerdanske's picture

"In the old days, you dealt with one regulator when you had an issue, maybe two. Now it’s five or six. It makes it very difficult and very complicated. You all should ask the question about how American that is. And how fair that is. And how complex that is for companies.”

 

Right, i follow! six times more people to bribe and keep happy. Such a drain. Dinner for each day of the week, almost.

Tough job raping and pillaging.

Really unfair.

Wed, 01/14/2015 - 12:23 | 5660231 NotApplicable
NotApplicable's picture

Most valuable Dimon ring, EVAR!

Wed, 01/14/2015 - 12:54 | 5660408 divingengineer
divingengineer's picture

I guess one could quit breaking the law and raping the wealth of a nation.

 

Nah, nevermind. 

Wed, 01/14/2015 - 13:08 | 5660479 joego1
joego1's picture

Hey Jamie! If your so smart  where are the HFT reglator slaying algos? Come on!

Wed, 01/14/2015 - 12:22 | 5660227 ghostzapper
ghostzapper's picture

Hey Jamie - go fuck yourself!

Hey American Sheeple - wake the fuck up!

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.

Wed, 01/14/2015 - 12:25 | 5660247 ghostzapper
ghostzapper's picture

I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

Wed, 01/14/2015 - 12:24 | 5660233 richiebaby
richiebaby's picture

I hope the pitchforks and torches crowd gets him before the big C does him in

Wed, 01/14/2015 - 12:24 | 5660239 Hubbs
Hubbs's picture

The bankers get rich, but think of all the useless lawyers at the money trough pigging out over the legal battles. Line them all up along a ditch and get the M-60 firing, and don't forget to switch barrels after every 400 rds.

Wed, 01/14/2015 - 13:00 | 5660441 divingengineer
divingengineer's picture

Just keep your bursts down to 3-4 rds and you won't have to worry about that barrel for a long time. 

Wed, 01/14/2015 - 12:24 | 5660240 HamRove
HamRove's picture

If regulators leave you in a puddle of your own piss and vomit, Jamie, I am all for it.

Your enemies are circling because there is blood in the water.

The piper must be paid. 

 

Wed, 01/14/2015 - 13:02 | 5660447 divingengineer
divingengineer's picture

Yeah, wait till Q2 when they have to start reporting those derivatives losses!

Whewww! I can already smell it burnin!!!

Wed, 01/14/2015 - 12:26 | 5660246 Thisisbullishright
Thisisbullishright's picture

I'm going to go long on lengths of rope and light poles!

 

 

Wed, 01/14/2015 - 12:38 | 5660265 LawsofPhysics
LawsofPhysics's picture

I don't think Jamie and I define "assault" the same way.

 

Sorry, there is no real risk in banking anymore now that the money for loans comes out of thin air and not from savings.  Moreover, the fucking bankers have an implicit guaranty from the taxpayers that they will get a bailout as well.

Moral hazard is indeed a bitch jamie.

Wed, 01/14/2015 - 12:30 | 5660280 alangreedspank
alangreedspank's picture

I'm all for unshackling banks from government....bailouts.

Wed, 01/14/2015 - 12:40 | 5660323 disabledvet
disabledvet's picture

And of course so should the Banks be for this.  JP Morgan the BANKER never took a bailout (even though the Government offered it to him all the time) BECAUSE BAILOUTS IMPAIR THE LIQUIDITY SITUATION OF THE BANK.

 

Of course if you're nothing more than the front company for a criminal enterprise....

Wed, 01/14/2015 - 12:43 | 5660347 alangreedspank
alangreedspank's picture

Indeed. Other than the usual WS investment banks, a lot of smaller regional banks didn't like the idea of having to take government money (which comes with "control" down the line too).

Wed, 01/14/2015 - 12:36 | 5660283 medium giraffe
medium giraffe's picture

"You all should ask the question about how American that is."

Words fail me.

 

Wed, 01/14/2015 - 13:03 | 5660454 Darksky
Darksky's picture

Yah, it is hard to talk when your jaw has dropped right through the floor and into the basement.

Wed, 01/14/2015 - 12:32 | 5660284 wstrub
wstrub's picture

Maybe he should buy a rundown town..............just like the folks in Schitt's Creek.

Wed, 01/14/2015 - 12:33 | 5660291 Seasmoke
Seasmoke's picture

I despise Jamie Dimon. But how the fuck do Wells Fargo and BOA, seem to always skate right on by any serious scrutiny under a microscope. 

Wed, 01/14/2015 - 12:36 | 5660310 FieldingMellish
FieldingMellish's picture

Because they are not in Goldman's sights... yet.

Wed, 01/14/2015 - 12:38 | 5660314 capltd
capltd's picture

They're too big to jail, don'tcha know.  Holder wrote a paper on it, how do you think Holder got his job?

Wed, 01/14/2015 - 12:34 | 5660297 capltd
capltd's picture

We need to stop the liberals from regulating and these heroes of the free market like Jamie.  And defund the regulating agencies if they don't cooperate with the businesses they regulate.  Let these corporations self-regulate.  We can trust them.  Corporations are people too, my friend.

Wed, 01/14/2015 - 15:03 | 5661163 insanelysane
insanelysane's picture

You mean the millionaire and billionaire liberals like Barney "leave my friends at Fannie and Freddie alone" Frank, Chris "I didn't know I got a special loan" Dodd, Liz "$350k per class taught, you didn't build that" Warren?  Those liberals???

http://www.nbcnews.com/id/25140560/ns/politics-capitol_hill/t/sens-conra...

http://www.foxnews.com/story/2008/10/03/lawmaker-accused-fannie-mae-conf...

Wed, 01/14/2015 - 12:37 | 5660309 Madcow
Madcow's picture

There's your proof of hyperinflation.  Its showing up first in legal costs. 

Sadly, Gov-Co has created a 2-class sytem.   Either you pay for bailouts or you receive bailouts. 

Taxes will need to go up up up - fovever - to pay for never-ending and (parabolic) increases in "TBTF" fraud and legal expenses

Wed, 01/14/2015 - 12:38 | 5660312 Ward cleaver
Ward cleaver's picture

Reduced head count of 7500 is a drop in the bucket. As technology
replaces people in all aspects of banking, the brick and mortar branches
will be the next to go as you don't need them. All that real estate will be monetized and the people fired. Banks like JPM r only looking to service
The wealthy and could give a rats ass about taking your checks into a
savings account. I remember the days of "Christmas Club" accounts for
kids wanting to deposit $1/week and the banks obliged. Thought of them as future customers while teaching them how to save and it's benefits (remember interst rates). Ah, the days when corporations actually were involved with the community. Glad I'm 60 and not 30.

Wed, 01/14/2015 - 12:38 | 5660316 Eternal Complainer
Eternal Complainer's picture

Poor Mr Big had a hard day!
Dont you worry, maybe that sissy Andrew Ross Sorkin will run you a nice hot bath tonight for when you get home.

Boo hoo :(

Wed, 01/14/2015 - 12:39 | 5660318 wmbz
wmbz's picture

Jamie and his ilk are 100% corrupt and have the cesspool in their back pocket. This is just a little side show that means nothing. He knows it as does everyone else.

He can't attend the down stairs eternal BBQ with Teddy soon enough as far as I am concerned!

Wed, 01/14/2015 - 12:40 | 5660320 Stanley Lord
Stanley Lord's picture

Jamie is right, either put them in jail or leave them alone, but government is complicit, same with cigarettes, they love the taxes but will never outlaw cigarettes, it is 100% shakedown street.

Wed, 01/14/2015 - 12:41 | 5660331 Yen Cross
Yen Cross's picture

   F -You Dimon... You sanctimonious piece of shit...

Wed, 01/14/2015 - 12:42 | 5660343 disabledvet
disabledvet's picture

Morgan Stanley has no trouble covering their Vig at the end of the day...what about the Bank?

Wed, 01/14/2015 - 12:58 | 5660425 capltd
capltd's picture

So my question is - why do we need to cut corporate taxes when they have so much extra cash lying around to spend on elections?  So they can spend more on elections?  Maybe if we (gasp) had publicly financed elections?  We could easily fund elections with a corporate "election tax" far less that what they're currently spending.  Doh! and ruin the multi-billion dollar election biz gravy train? What was I thinking!  

Wed, 01/14/2015 - 13:03 | 5660452 pupdog1
pupdog1's picture

I have found that with true sociopaths, they belive something is true just because they said it.

It's a combination of massive ego, psychotic paranoia, a Hitleresque need for control, belief that they are on a divine mission, and absolutely no conscience.

 

Wed, 01/14/2015 - 13:17 | 5660504 wow thats crazy
wow thats crazy's picture

Legal Cost ( Cost of Doing business)

 

1) 170 billion for lawyers

2) 2 billion for political donations

3) 1 billion for providing Coke and Hookers to Congress ( Entertainment expense )

4) 5 billion gone missing?? ( Not sure where it went? have you seen my new Mansion and my hot wife )

Wed, 01/14/2015 - 13:18 | 5660525 medium giraffe
medium giraffe's picture

4) Last seen hanging from a parachute somewhere over Iraq.

Wed, 01/14/2015 - 13:18 | 5660537 Emergency Ward
Emergency Ward's picture

Litigation costs will be 200% reimbursed by taxpayer bailouts per Executive Order.  Corruption must be adequately rewarded for it to continue.

Wed, 01/14/2015 - 13:48 | 5660706 Anunnaki
Anunnaki's picture

Don't the banksters get to deduct legal expenses as well as fines off their taxes? Just amortize it as the cost of doing business

Wed, 01/14/2015 - 13:25 | 5660522 lakecity55
lakecity55's picture

"Look, I'll tell you the Truth. All of us bankers serve Satan. That's right. The Devil, Shaitan, whatever. I'm glad to get it off my chest, Satan promised us a lot of power and money if we would use this Plan he had. So, we did. Then he put spec ops Demons in charge of other stuff, like the presidency, congress, the UN, and Ukraine, etc.

Satan wants to rule the world, and he has magic powers. I must admit all of us bankers at the banker convention fell for his scheme. That's why everything is fucked up.

I guess at some point, God is going to get really really mad and blow this all up, but, hey, I am living large! Plus, Satan said Hell was really a tropical island with naked girls and stuff."

Wed, 01/14/2015 - 13:20 | 5660543 Batman11
Batman11's picture

Jamie Dimon comes out the closet:

http://www.flickr.com/photos/expd/7604336886/

The Gangsta Banksta revealed.

 

Wed, 01/14/2015 - 13:27 | 5660564 wow thats crazy
wow thats crazy's picture

LOL

 

Jamie Dimon " Doing Business here is worst then doing business in Mexico, kick back here, kick back there, pay off this guy pay off that guy. like holy fuck man how much does it cost to stay out of jail. "

 

oh ya we missed earning and lets not talk about when the shale companies start missing there debt payments

Wed, 01/14/2015 - 13:41 | 5660652 Anunnaki
Anunnaki's picture

Charles Keating, if he were alive, wishes he had been busted under the Democrat Obama instead of the Republican Bush. He went behind bars for pennies on the dollar compared to the free ride Obama gave to the banksters.

Moral Hazard it's not a bug it's a feature

 

Worst. President. Ever

Wed, 01/14/2015 - 13:43 | 5660676 Saturn_ls1
Saturn_ls1's picture

Dimon is scared ... not of regulators but of the Great Vampire Squid who wants to break up his empire ... and has successfully done this to many victims. http://moneymorning.com/2015/01/13/jp-morgan-nyse-jpm-is-the-latest-targ...

JPMorgan (NYSE: JPM) Is the Latest Target on Goldman Sachs' "Hit List"
Wed, 01/14/2015 - 13:44 | 5660677 Vooter
Vooter's picture

 

 

You gotta keep one eye
Looking over your shoulder
You know, it's gonna get harder
Harder and harder
As you get older
And in the end you'll pack up
Fly down south
Hide your head in the sand,
Just another sad old man,
All alone and dying of cancer
HA-HA

Wed, 01/14/2015 - 13:46 | 5660684 BeerMe
BeerMe's picture

Behind closed doors there is a discussion of negative interest rates.  Look what they are doing with IRAs.  Making sure people load up into just one by taxing any over one.  They will then take a little cut to pay off the banks again...

Wed, 01/14/2015 - 13:45 | 5660688 Anunnaki
Anunnaki's picture

Jamie Dimon makes John D. Rockefeller look like Elizabeth Warren.

Gilded Age II.

Obama and Holder will be billionaires by 2020

Wed, 01/14/2015 - 13:48 | 5660701 dot_bust
dot_bust's picture

Abolishing the banks would lead to prosperity and peace for all Americans and possibly the entire world.

Occupy Wall Street only needed one slogan: "Abolish the Banks."

That's it. Problem solved.

Wed, 01/14/2015 - 13:52 | 5660720 Anunnaki
Anunnaki's picture

The Obama Doctrine: Socialize the Risk, Privatize the Profit

"we morally hazarded some folks"

Wed, 01/14/2015 - 14:01 | 5660780 falak pema
falak pema's picture

the risk gets socialized to the 99%, the profits to the 1%.

One of the biggest and fastest transfers of wealth ever witnessed; amounting to over 10 T. And, it isn't OVER ! 

Now how can anybody call the current administration as SOCIALIST?

As it is agent of the Feudalist oligarchs. 

Feudalism is inverted totalitarianism. 

If the administraton were socialist in the classical definition it WOULD BLEED THE 1% TO FEED THE COFFERS OF THE 99%. Thats what all social revolutions did. Its history and its irrefutable.

Simple really, words have a meaning as causality is the REAL bitch.

In the case of the USA its rich robbing poor under supervision of the elected who control Congress and executive.

Wed, 01/14/2015 - 14:43 | 5661024 Manipulism
Manipulism's picture

falak, again, Perlen vor die Saeue.

Mericans can not understand you.

Dem Ochs ins Horn gepetzt.

Wed, 01/14/2015 - 14:48 | 5661059 falak pema
falak pema's picture

Mexicans know how to cha cha cha.

There is always hope. And I am not kosher. 

Maybe pigs will learn to fly! 

Wed, 01/14/2015 - 14:52 | 5661080 Manipulism
Manipulism's picture

You are the man.

I am also not kosher.

Wed, 01/14/2015 - 13:55 | 5660753 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Boo Fucking Hoo..!!

Bitching about the government clawing back some of their ill-begotten gains.  Cry me a fucking river.

Wed, 01/14/2015 - 14:00 | 5660770 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Also, enough of the "one-time, non-recurring" bullshit.  This is the cost of engaging in criminal enterprise.  Enough with the financial fuckery.  These cunts need to stop manipulating their earnings.

Wed, 01/14/2015 - 13:59 | 5660768 Conax
Conax's picture

$29 billion in fines later and he wonders why they're picking on him.

Go to jail.

Go directly to jail.

Do not pass GO!

Do not collect $200.

Wed, 01/14/2015 - 14:12 | 5660832 kchrisc
kchrisc's picture

If you classified fraudulent-reserve banking as a dangerous disease, and it is a people killing diseases, you would feel compelled to eradicate it--them.

The banksters need to repay us.

 

"Save the Humans--Guillotine the Banksters."

Wed, 01/14/2015 - 14:16 | 5660862 Rollo57
Rollo57's picture

J P Morgan et al, have been involved since day 1 in fraud and corruption, they had their 'objectors' to Fed Res killed off on the Olympic, oops Titanic,  http://youtu.be/S9v2hhyHWL  Then they tell Teslar they're withdrawing funding, because they can't meter his Wardenclyffe Tower

http://youtu.be/YTjYHnpJjEE 

Wed, 01/14/2015 - 14:39 | 5660983 WTFUD
WTFUD's picture

A zit on your clit may be quite continental but Dimon is the Fed's best friend.

Wed, 01/14/2015 - 14:38 | 5660993 loveyajimbo
loveyajimbo's picture

Dang... I was really rooting for that throat cancer to kick into high gear... the world will celebrate this toxic swine's demise, except for maybe Gary Gensler, Dimon's auto suck machine...

Wed, 01/14/2015 - 14:41 | 5661009 Mi Naem
Mi Naem's picture

Poor Mr. Dimon is getting a rough time from The (other) Powers That Be. 

Bookmark this site to periodically send him a note of condolence:

http://shipyourenemiesglitter.com/

Wed, 01/14/2015 - 15:00 | 5661136 Silverbug63
Silverbug63's picture

Who knew that stepping in dogshit and $11 billion annual legal fees were "God's work"?

Wed, 01/14/2015 - 15:02 | 5661141 Silverbug63
Silverbug63's picture

Who knew that stepping in dogshit and $11 billion annual legal fees were "God's work"?

Wed, 01/14/2015 - 15:03 | 5661156 Silverbug63
Silverbug63's picture

According to Jamie Dimon, stepping in dogshit and $11 billion annual legal fees are "God's Work".

Wed, 01/14/2015 - 15:58 | 5661523 Rabbi Blitzstein
Rabbi Blitzstein's picture

Hahaha. I always laugh when they say "US" banks. It's jewish banks. We keep all the profit. We give the goyim all the losses. You never learn.

Wed, 01/14/2015 - 16:03 | 5661541 wow thats crazy
wow thats crazy's picture

You know, there are many ways you can tell a person to fuckoff, leave me alone, don't make me come over there and choke a bitch!

Wearing Presidential Cufflinks seems to say all this and more in a very classy way

Wed, 01/14/2015 - 22:39 | 5661713 Radical Marijuana
Radical Marijuana's picture

The social facts have become blatant enough that Zero Hedge can boldly state them: "the world's banks have now become the world's biggest organized crime syndicate." However, in my view, the primary reason why society so dismally fails to deal with that runaway situation is that people continue to want to rely upon DUALITIES, or false fundamental dichotomies, and the related impossible ideals, as the basis for understanding the social facts that "the world's banks have now become the world's biggest organized crime syndicate."

I insist that we should try to change the ways that we think about those facts, because promoting impossible ideals continues to actually cause the opposite to happen in the real world. We should endeavour to develop ways of thinking that are more based upon UNITARY MECHANISMS, rather than DUALITIES.

ALL HUMAN REALITIES ARE ALWAYS ORGANIZED LIES OPERATING ROBBERIES, BECAUSE ALL HUMAN REALITIES ARE ENTROPIC PUMPS OF ENERGY.

Human societies have always operated as fractal patterns of the principles and methods of organized crime. Most of human history has been the exponential growth of that. Thus, "the world's banks have now become the world's biggest organized crime syndicate" BECAUSE human beings have always lived as robbers in their environment, and so, of course, the financial system was based on enforced frauds, as symbolic robbery.

In the article above, Zero Hedge concludes by quoting a phrase that Gerald Celente popularized: "there truly is justice, and then there is just us." If we are going to develop more "justice" within society, then that is going to have to be understood quite differently than the ways such magical words, like "justice," are generally understood at the present time, which are based on DUALITIES, false fundamental dichotomies, and the related impossible ideals.

As with all such magical words, which are popularly used, they have no operational definitions which are based on actually existing energy systems. Sublime "justice" is based on the principle of the conservation of energy, which is the same source for all of the other various magical words, that people like to use when discussing political problems. However, people generally understand that backwards, because they understand the concept of entropy backwards (which can be seen in the way that an arbitrary minus sign was inserted into the entropy equations of thermodynamics and information theory.)

In my view, while the social facts are becoming more and more blatant, that governments are the biggest form of organized crime, controlled by the best organized gangsters, which are currently the banksters, those social facts continue to still be interpreted through the same old-fashioned, biggest bullies' bullshit view of the world, which deliberately presents everything in ways which are as backwards as possible. Metaphorically speaking, we are living in a Bizarro Mirror World, where everything appears proportionately backwards, and thus, the only genuinely better resolutions to the problems that causes is to go through the looking glass.

Those who face the facts that "the world's banks have now become the world's biggest organized crime syndicate" should stop going from their correct analysis of those facts, to then propose bogus "solutions" to that, which continue to be backwards, because those "solutions" continue to be proposed while taking for granted ALL the ways that we are generally living in a Bizarro Mirror World, due to the dominance of the biggest bullies' bullshit world view.

That BACKWARD way of thinking runs throughout all of the world's dominate natural languages, as well as through the dominate philosophy of science. The result is that while the social facts become more blatantly obvious that "the world's banks have now become the world's biggest organized crime syndicate," the good analysis of those social facts almost always collapses back to bullshit "solutions," based on continuing to promote impossible ideals, which continue to actually cause the opposite to happen in the real world.

It is NOT possible to stop human realities from being entropic pumps of energy flows. However, it IS possible to perceive that differently. Indeed, changes in the basic paradigms of perception that we use to understand politics is what is necessary. As soon as we perceive human beings as being SUBTRACTED from their environment, then across the boundaries thereby defined they MUST TAKE ENERGY, in order to live, which means engage in ROBBERY.

Of course, the biggest banks are engaged in the greatest robberies, through government enforced frauds. However, since we collectively tend to understand the basic concept of SUBTRACTION backwards, because we have subtracted the subtraction, without paying attention to the ways that we have done that, we continue to operate within the biggest bullies' bullshit world view, based on being able to back up lies with violence. Therefore, in the case of the world's biggest banks, OF COURSE, they are "the world's biggest organized crime syndicate."

Naturally, any sufficiently good analysis of the social facts is ALWAYS going to reveal some systems of organized lies operating robberies. However, the prolonged social successes based on backing up deceits with destruction, and enforcing frauds, has resulted in almost everyone being brainwashed to perceive that through the biggest bullies' bullshit language, or, in this case, through the language promoted by the banksters, whereby there was a negation of the negation, which most people continue to not notice, and therefore, they continue to promote bullshit "solutions," which continue to presume they are perceiving things properly, while they are actually always thinking in ways which negate the negation, without noticing that they are doing that.

Failure to understand that sufficiently on deeper levels means that it almost always happens that the few who better perceive the social facts about "the world's biggest organized crime syndicate" STILL CONTINUE TO PROMOTE SOLUTIONS BASED ON IMPOSSIBLE IDEALS LIKE "JUSTICE," IN WAYS WHICH HAVE NO RATIONAL RELATIONSHIP TO THE CONSERVATION OF ENERGY, EXCEPT IN WAYS WHICH CONTINUE TO UNDERSTAND THE CONCEPT OF ENTROPY BACKWARDS.

As long as most people continue to indulge in presuming that there is, or should be, some fundamental dichotomy between organized crime versus government, then the ways that governments have become the biggest form of organized crime, controlled by the best organized gangs of criminals, will continue to get worse faster, since all of the bogus "solutions" to those problems will continue to be those promoted by reactionary revolutionaries to mainstream morons, which shall continue to be based on impossible ideals, which will continue to actually cause the opposite to happen in the real world ... AS THAT HAS THROUGHOUT HUMAN HISTORY, SO FAR ...

For thousands of years, social pyramid systems have been based on backing up lies with violence, which have become the sophisticated systems of legalized lies backed by legalized violence, currently manifesting as the big banks and big governments. Hence, the biggest bullies' bullshit world view almost totally dominates the language that we use, and the ways that we think. While the social facts become more and more blatantly obvious that "the world's banks have now become the world's biggest organized crime syndicate," almost everyone who achieves that level of correct analysis of those social facts continues to still operate within the Bizarro Mirror World, which was the result of the biggest bullies' bullshit dominating everything so much, for so long, through all of the languages that we use, including through the heart of the currently established philosophy of science.

Money is measurement backed by murder. There are no good ways to change the combined money/murder systems that do not go through intellectual scientific revolutions regarding how we understand that situation. The only things that exist are the dynamic equilibria of different systems of organized lies operating robberies. Thus, the only way to have more "justice" is to change those dynamic equilibria.

Paradoxically,

doing that should be described as the processes of

subtracting the subtraction of the subtraction,

and of negating the negation of the negation,

because the world we live in is already based on

subtraction of the subtraction,

or a negation of the negation.

Thu, 01/15/2015 - 00:14 | 5663465 MEFOBILLS
MEFOBILLS's picture

Canada from 1932 to 1974 had full employment, free medical, free college.  Their people had savings, and pooled said savings to start business.  Their business was world class competitive.

 

Australia had a similar period at their founding, as they had a state bank.

During Franklin's reign at the Philadelphia colony, he made a comment - that there was never a more pleasant place on earth.

There are many times in history where money was managed properly, and it was a great benefit to the people.

For hundreds of years, Rome had a good money system.  The talley system in England from 1100 to about 1600 was pretty good at settling debts in a non usurious way.

 

You assertion does not comport with actual history.

Do NOT follow this link or you will be banned from the site!