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

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"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.
One nail gun will not be enough.....
Vote up!
0Vote down!
0One nail gun will not be enough.....
Ha ha, you nailed that one, for good.
Read this book.
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.
Who mean, "we," white man?
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.
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.
"not a single banker in prison"
Is that the new "American" way?
Bambi is too scared of the banking cartel. They do get what they want afterall.
Banks are under assault because Dimon is richer than you.
https://www.youtube.com/watch?v=8G871csJS6Q
The only prominent person who has spoken out about it was Ron Paul
Eric Holder is the lawyer for the bankster mob, his job is to run interference.
His friends call him Dick
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.
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.
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.
The definition of a CHUMP.
JOKE OF THE DAY: Bob Pisani: "Volatility perfectly normal:"
And to think this guy still gets paid for this tripe...
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.
I did read that book. Then I sort of wished I hadn't.
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
5th Edition has updates to 2010. Required reading.
Perhaps it's time to break out the shitgum for this orgized group?
How else does one deal with such clusterfucks?
guillotine or hanging, dealers choice....
And ONE nailgun to rule them all!!!!!
(Insert maniacal laugh)
Not even if it is super-sized?
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.
poor jamie is tired of the cost of doing business. he wants carte blanche, and for free!
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
Jamie with a nail gun?
If only...
I'd like to see him on the receiving end of a truncheon.
How's that for receivables Jamie?
pods
I would rather see him in jail getting ass fucked on a daily basis by Bubba with gental warts.
Or worse yet...gentile warts.
Fuck all that. That maggot deserves a firing squad.
The Wall St. Banksters are the biggest crooks to ever walk the Earth.
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.
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."
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.
Nobody ever said doing god's work would be easy Jamie.
Only 5 or 6?
Deleted
Maybe it has something to do with why he's richer than me?
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
Most valuable Dimon ring, EVAR!
I guess one could quit breaking the law and raping the wealth of a nation.
Nah, nevermind.
Hey Jamie! If your so smart where are the HFT reglator slaying algos? Come on!
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.
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.
I hope the pitchforks and torches crowd gets him before the big C does him in
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.
Just keep your bursts down to 3-4 rds and you won't have to worry about that barrel for a long time.
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.
Yeah, wait till Q2 when they have to start reporting those derivatives losses!
Whewww! I can already smell it burnin!!!
I'm going to go long on lengths of rope and light poles!
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.
I'm all for unshackling banks from government....bailouts.
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....
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).
"You all should ask the question about how American that is."
Words fail me.
Yah, it is hard to talk when your jaw has dropped right through the floor and into the basement.
Maybe he should buy a rundown town..............just like the folks in Schitt's Creek.
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.
Because they are not in Goldman's sights... yet.
They're too big to jail, don'tcha know. Holder wrote a paper on it, how do you think Holder got his job?
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.
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...
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
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.
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 :(
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!
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.
F -You Dimon... You sanctimonious piece of shit...
Morgan Stanley has no trouble covering their Vig at the end of the day...what about the Bank?
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!
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.
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 )
4) Last seen hanging from a parachute somewhere over Iraq.
Litigation costs will be 200% reimbursed by taxpayer bailouts per Executive Order. Corruption must be adequately rewarded for it to continue.
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
"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."
Jamie Dimon comes out the closet:
http://www.flickr.com/photos/expd/7604336886/
The Gangsta Banksta revealed.
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
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
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"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
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...
Jamie Dimon makes John D. Rockefeller look like Elizabeth Warren.
Gilded Age II.
Obama and Holder will be billionaires by 2020
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.
The Obama Doctrine: Socialize the Risk, Privatize the Profit
"we morally hazarded some folks"
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.
falak, again, Perlen vor die Saeue.
Mericans can not understand you.
Dem Ochs ins Horn gepetzt.
Mexicans know how to cha cha cha.
There is always hope. And I am not kosher.
Maybe pigs will learn to fly!
You are the man.
I am also not kosher.
Boo Fucking Hoo..!!
Bitching about the government clawing back some of their ill-begotten gains. Cry me a fucking river.
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.
$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.
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."
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
A zit on your clit may be quite continental but Dimon is the Fed's best friend.
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...
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/
Who knew that stepping in dogshit and $11 billion annual legal fees were "God's work"?
Who knew that stepping in dogshit and $11 billion annual legal fees were "God's work"?
According to Jamie Dimon, stepping in dogshit and $11 billion annual legal fees are "God's Work".
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.
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
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.
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.