Guest Post: Jamie Dimon’s Shameful Spouting about ‘anti-American’ Basel III regulations

Tyler Durden's picture

Submitted by Nomi Prins

Jamie Dimon’s Shameful Spouting about ‘anti-American’ Basel III regulations 

There are few things more cringe-inducing than a government-subsidized bank CEO spouting self-serving, entitlement-laden idiocy to the world just because he and his bank might be subject to some extra constraints. That hasn’t stopped JPM Chase CEO Jamie Dimon from acting like a spoiled, sociopathic brat while characterizing proposed Basel III capital requirements and regulations as ‘anti-American’ at every opportunity.

They are not ‘anti-American’ but globally risk-mitigating in a time of widespread economic Depression, a point lost in the haze of Dimon’s megalomania.

Basel I and II enabled European banks and townships and pension funds to purchase AAA securities extensively. American banks went into manufacturing over-drive to oblige, creating 75% of the $14 trillion of mortgage-related assets between 2003-2008. Related risk and loss continue to proliferate the globe. Basel III goes further towards refining capital requirements to contain damage.

Dimon doesn’t want a capital surcharge for big banks, or higher capital requirements for US mortgage securities, because that might entail further examination of his bank holdings, not because the excess capital would be a hardship. Nearly $1.6 trillion of excess US bank capital is sitting on the Federal Reserve books right now, doing nothing productive or job-producing.

Here’s what’s really anti-American – big banks receiving extreme federal assistance while the rest of the country is crushed, loan refinancing and other foreclosure reducing negotiations are anemic, and both private and public sectors can’t finance enough job growth to alter our horrific unemployment or poverty situation.

JPM Chase had the government back its Bear Stearns purchase (we’re still on the hook for $29 billion related dollars) in March, 2008 and facilitate its acquisition of Washington Mutual that fall.  It took advantage of $40 billion of FDIC debt guarantees in early 2009, and received $25 billion in TARP money that was only repaid after its trading profit got a big enough boost.

The toxic asset and derivatives pyramid that emanated from Wall Street and spread to Europe continues to brutalize the global economy from the United States to Iceland, Norway, Greece, Italy, Spain, Portugal and Ireland.

American banks similarly catalyzed the 1930s Great Depression, forming shady trusts and fraudulent assets (the 1929 version of the CDO) to puff up values galore as the biggest banks cashed out leaving everyone else holding the bag.

The difference is that back then banks were slapped with more than additional capital requirements. The 1933 Glass-Steagall Act forced banks (including the Morgan Bank and Chase) to chose between commercial and investment banking focus, whereby commercial banks received FDIC backing for their customer deposits and access to Federal Reserves loans, but speculative, asset-creating firms were on their own. To be sure, there have been currency and debt crises since, but none reached today’s level, in the wake of Glass-Steagall repeal and government subsidy overload.

Sitting in his prime position as a Class A NY Federal Reserve director before, during and since the fall 2008 crisis period (he was re-elected in 2010, the same year he bagged a $17 million bonus), Dimon’s callous attitude toward global and domestic risk and the banks’ role in it, is particularly heinous.

This summer, JPM Chase settled (with no admission of guilt) fraud charges for its CDO practices for $153.6 million. There are a plethora of class-action suits in the pipeline. No matter. Old habits don’t die without being killed.

So far this year, JPM Chase is the world’s top creator of securities backed by commercial loans (or CMBS) with 19.5% of the market. Absent stricter regulations to the contrary, such as resurrecting the 1933 Glass-Steagall Act, it also happens to be the top loan contributor (or supplier of loans) for CMBS deals. Lending and packaging loans in the same bank is an obviously perilous mix. And if you think CMBS won’t be another subprime, guess again. CMBS delinquencies are at record highs. More dangerous, JPM Chase is second only to Goldman Sachs in credit derivatives exposure and runs a $73 trillion derivatives book.

In other words, Jamie Dimon should be worried about other things besides some extra capital requirements from Basel III. He should shut up and watch his mortgage and derivatives portfolio. And we should be glad there’s even the remotest opposition to his drivel. Basel III isn’t at all perfect. It’s not a new Glass-Steagall. It doesn’t alter the way banks do business and the structure in which they operate. It doesn’t stop the careless outpouring of money from central banks and entities into the hands of eager banks and their investors at the expense of the world’s citizenship and economic security. But, if anything makes Jamie Dimon this irate, you know it can’t be bad.

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Cynical Sidney's picture

hang dimon......and sanford weill too, set an example

eureka's picture

Yeah - hang them HIGH.

The US bankster-military-FED USD world reserve currency MAFIA - doesn't like regulation of their fiat-scams - WELL, we don't like them - HANG THEM ALL.

depression's picture

Shoves 1000 shares of FAZ right up Dimon's ass , have a nice day.

mkkby's picture

We invaded a country and killed thousands (millions?) because someone was "bad".  Name a special bronze lamp post after this one as notice to the rest.

eureka's picture

Yeah - but then there's karma and poetic justice - and the boomerang of toxic credit and assorted derivatives tossed at continental EU by THE USUKs - i.e. US+UK - will return to their mafia headquarters in New York and London - as their empoverished jobless, homeless, starving masses set them on fire.

Watch carefully:  THE USUKs GO DOWN BEFORE EU - US collapse becomes evident to within 6 months.

USUKS - the original Ivy-Ilk Bankster Scum Puppeteer Mafiosi of the globe - go down first.

TO WIT - CHECK THIS:

 


Is China Ready To Pull The Plug? Alt-Market.com – Brandon Smith There are two mainstream market assumptions that, in my mind, prevail over all others. The continuing function of the Dow, the sustained flow of capital into and out of the banking sector, and the full force spending of the federal government are ALL entirely dependent on the lifespan of these dual illusions; one, that the U.S. Dollar is a legitimate safe haven investment and will remain so indefinitely, and two, that China, like many other developing nations, will continue to prop up the strength of the dollar indefinitely because it is “in their best interest”. In the dimly lit bowels of Wall Street such ideas are so entrenched and pervasive, to question their validity is almost sacrilegious. Only after the recent S&P downgrade of America’s AAA credit rating did the impossible become thinkable to some MSM analysts, though a considerable portion of the day-trading herd continue to roll onward, while the time bomb strapped to the ass end of their financial house is ticking away. The debate over the health and longevity of the dollar comes down to one very simple and undeniable root pillar of economics; supply and demand. The supply of dollars throughout the financial systems of numerous countries is undoubtedly overwhelming. In fact, the private Federal Reserve has been quite careful in maintaining a veil of secrecy over the full extent of dollar saturation in foreign markets in order to hide the sheer volume of greenback devaluation and inflation they have created. If for some reason the reserves of dollars held overseas by investors and creditors were to come flooding back into the U.S., we would see a hyperinflationary spiral more destructive than any in recorded history. As the supply of dollars around the globe increases exponentially, so too must foreign demand, otherwise, the debt machine short-circuits, and newly impoverished Americans will be using Ben Franklins for sod in their adobe huts. As I will show, demand for dollars is not increasing to match supply, but is indeed stalled, ready to crumble. China, being the second largest holder of U.S. debt next to the Fed, and the number one holder of dollars within their forex reserves, has always been the key to gauging the progression of the global economic collapse now in progress. If you want to know what’s going to happen tomorrow, watch what China does today. Back in 2005, China began a low profile program to issue government debt denominated in the Yuan, called Yuan bonds, or “Panda Bonds”. This move was almost entirely ignored by establishment economists. They should have realized then that China was moving to strengthen the Yuan, expand its use in other markets, and recondition their economic structure away from export dependency and towards consumerism (as they have done with the establishment of the ASEAN trading bloc). Of course, in the MSM at that time, there was no derivatives bubble, no credit crisis, no debt implosion. America was on cloud nine. China, through inside knowledge, or perhaps a crystal ball, knew exactly what was about to happen, and insulated itself accordingly by generating distance between its system and the soon to derail retail based society of the U.S. This dynamic has not changed since the 2008 bubble burst, and Chinese activity is still the ultimate litmus test for economic volatility. Today, there is widespread confusion in markets over the direction of America’s financial future. In the wake of the credit downgrade, most investors unaware of the bigger picture are desperately clinging to any and every piece of news no matter how trivial, every rumor from the Fed, and every announcement from the government no matter how empty. China’s economic news feeds have been tightly regulated and filtered, even more so than usual (which is cause for concern, in my opinion), while distractions in Europe abound. Let’s take a step by step journey through these issues, and see if we can’t produce some clarity… U.S. versus EU: A Game Of Hot Potato…To The Death? The theatrical seesaw between the U.S. and Europe is not only becoming obvious to the most narrow of economic analysts, it is also becoming kind of boring. The entire ordeal has been subversively exploited as a false example of systemic “contagion”, and with purpose; global banks need to convince average Americans and average Europeans that destabilization in one portion of the world will automatically lead to destabilization everywhere. This concept is true only so far as forced globalization and centralization have made it true. That said, the charade has been somewhat effective in conditioning the populace with ideas of collectivist survival. In other words, we are being trained to take fiscal responsibility for countries outside of our sovereign national boundaries as if we are morally tied to every penny they have or do not have (global socialism/feudalism – here we come!). This process is culminating in worldwide harmonization through fear as well as guilt. What we are witnessing is NOT contagion. Instead, we are seeing multiple and mostly separate collapses activated simultaneously. Each nation suffering dire straights in Europe is doing so because of its own particular financial problems, not the problems of other countries nearby, and certainly not those of countries on the other side of the world. Contagion arguments are only applicable to those economies overly dependent on exports, yet, China has already shown (at least in the case of the U.S.) that such dangers can be controlled by minimizing exposure to the poisoned portions of the system and reverting to more internalized wealth creation. Treasury Secretary Timothy Geithner and the heads of World Bank and IMF have perpetuated the lie of contagion between the U.S. and the EU primarily to service the progress of globalization, but also to hide the inflationary effects of dollar devaluation. While the greatest threats are stacked squarely against America’s economy and the dollar, somehow we have been led to focus on the comparatively less explosive drama in the EU. U.S. dollars, as well as Chinese funds, are flooding into Europe to support the region, while investment in the U.S. and its debt weakens and disappears. In the meantime, a weaker Euro makes the dollar look more attractive (at least on paper), but in reality, both currencies are on the path to bloody hari-kari. How much longer can this game of hot potato go on? Again, China decides. Eventually, China is going to have to choose which currency to support; the dollar or the euro. Supporting both is simply not an option, especially when the chance of collapse in both currencies is so high. So far, the most logical path has been the euro. While the EU may suffer an astonishing breakdown, we must take into account that our own Treasury and central bank have seen fit to throw trillions of dollars into propping up Europe (with even more on the way): http://www.reuters.com/article/2011/09/15/us-eurozone-idUSTRE78B24R20110915 With so much inflation and devaluation being thrust upon the dollar in the name of saving the EU, China’s move towards a stronger economic relationship with Europe at the expense of the U.S. is a no-brainer: http://www.bloomberg.com/news/2011-09-14/china-willing-to-buy-bonds-from-sovereign-debt-crisis-nations-zhang-says.html If I were to place a bet on who would come out of the crisis less damaged, my money would be on the EU, everyone else’s money certainly seems to be… China Discreetly Moving To Dump U.S. Debt China has been tip-toeing towards this for years, and has openly admitted on numerous occasions that they plan to institute a break from U.S. debt and the dollar in due course. Anyone who continues to argue that a Chinese decoupling from America’s economy is impossible at this point is truly beyond hope. Though increasingly more rare, news on China’s push to drop the U.S. still leaks out. Recently, a top advisor to China’s central bank let slip that a plan is in place to begin “liquidating” (yes, they said liquidate) their U.S. Treasury bonds as soon as possible, and reposition national investments into more physical assets: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100011987/china-to-liquidate-us-treasuries-not-dollars/ But let’s step back for a moment and pretend China hasn’t told us exactly what it is going to do time and time again. Instead, let’s look at the fundamentals. The primary concern in China right now is inflation. Because China does not yet have the ability to export its fiat to other markets the way the U.S. does, its own liquidity injections in the face of the credit crisis have led to severe price increases. In August alone, overall inflation was rated at 6.2% (always double government produced numbers to get true inflation). Food prices jumped 13.4%, while meat and poultry jumped 29.3%. Because these numbers are around 1% lower than in previous months, the Chinese government has prematurely proclaimed a “cooling period”: http://www.telegraph.co.uk/finance/china-business/8751482/China-inflation-cools-as-food-price-rises-slow.html With harsh inflation continuing unabated, eventually, the Asian nation will be forced to enact abrupt policies. This will likely take the form of a strong Yuan valuation, or a “floating” of the Yuan. A sizable increase in the value of the Chinese currency is the ONLY way that the government will be able to combat rising prices. By increasing the buying power of its citizens, the government allows them to keep pace with rising prices, and eases the tension within the populace which could otherwise lead to civil unrest. For China to ensure that a floating of the Yuan will lead to a much higher value, their forex and treasury holdings will have to fall. Period. A dumping of the dollar will give the Chinese room to breath, and this space will be needed very soon. The debt ceiling deal made by Congress in the aftermath of the credit downgrade left the rest of the world unimpressed. While the MSM tries to make us forget that this event ever occurred, most foreign investors have not. Markets are anxiously awaiting an announcement from the Fed for further liquidity injections. If this announcement is not made after meetings next week, then it will certainly be made before the end of the year. Ironically, the same quantitative easing that investors are clamoring for today is liable to become the final signal for China to cut its losses and separate from U.S. securities completely. China has been positioned for many months now to take such measures… Lights Out… Delusions of Chinese dependency on the U.S consumer still abound, and those who suggest a catastrophic dump of U.S. debt and dollars in the near term are liable to hear the same ignorant talking points we have heard all along: “The Chinese are better off with us than without us…” “China needs export dollars from the U.S. to survive…” “China isn’t equipped to produce goods without U.S. technological savvy…” “America could simply revert back to industry and production and teach the Chinese a lesson…” “The U.S. could default on its debts to China and simply walk away…” “The whole situation is China’s fault because of their artificial devaluation of the Yuan over the decades…” And on and on it goes. Though I have deconstructed these arguments more instances than I can count in the past, I feel it my duty to at least quickly address them one more time: U.S. consumption of all goods, not just Chinese goods, has fallen off a cliff since 2008 and is unlikely to recover anytime soon. China has done quite well despite this fall in exports considering the circumstances. With the institution of ASEAN, they barely need us at all. China is well equipped to produce technological goods without U.S. help, and if Japan is inducted into ASEAN (as I believe they soon will be), they will be even more capable. America will NOT be able to revert back to an industrial based economy before a dollar collapse escalates to fruition. It took decades to dismantle U.S. industry and ship it overseas. Reeducating a 70% service based society to function in an industrial system, not to mention resurrecting the factory infrastructure necessary to support the nation, would likely take decades to accomplish. If the U.S. deliberately defaults on debt to China, the global reputation of the dollar would implode, and its world reserve status would be irrevocably lost. We won’t be teaching anyone a “lesson” then. Yes, China currently manipulates its currency down, but then again, so does the U.S. though quantitative easing. Both sides are dirty. Taking sides in this farce is pure stupidity… Now that all that has been cleared up (again), the primary point becomes rather direct; the reason it is difficult to predict an exact time frame for an American collapse is because all the pieces are in place to trigger an event right now! There are, of course, stress points within the system that set a time limit, even on global banks and China, but a full spectrum catastrophe is not only a concern for some distant future. Every element needed for the so called “perfect storm” is ever present and ready to ignite at a moments notice. The destructive potential coming from China alone is undeniable. Everyday that the spark is subdued should be treated as a gift, an extra 24 hours of education and preparation. This is how close we are to the edge. It is not for us to be alarmed, but to be ready, and ever aware. You can contact Brandon Smith atbrandon@alt-market.com USUKs - wipe you arrogant, blaming, finger-pointing whiny faces & arses. Die Dimon - Die - and Blankfein - and the rest of you - Die or be massacred by your own masses very, very soon....

 

TruthInSunshine's picture

Little Jamie Dimon, smiling front man for the economic hit men behind the curtains, just wants to ensure he registers a loud complaint so that he sets the table for round #3 (or is it #4 now?) of TARPishWhateverTheyCallItThisTime.

Markets are going to close red today and then the meltdown begins (once even the most obtuse sheeple realizes that the sell-siders are using very fuzzy math on every econometric score and the "#saving Europe thing").

Greece is toast in a matter of weeks. Then it's on to PIISFUK (Portugal, Ireland, Italy, Spain, France, UK).

The counterparty and derivative risk on the Greece default will blowtorch banks and bond holders, and Greece debt is somewhere around 4% of the PISSFUK pie.

To save the EU, if even for a year or two (in other words, why bother, given the transitory nature of the save and the costs involved - oh, wait, it's to ensure the Banksters can liquidate compliments of taxpayers and bail), solvent savers of Europe are going to get cremated.

Good luck Eurotrash banks and those depending on solvency to get paid or refunded monies.

DoChenRollingBearing's picture

@ TruthInSunshine

PIISFUK, I like it...!  Green!

But, to your main point, yes, all the greedy bankers are trying to save themselves from the consequences of the problems they had a major hand in creating.  So, tough Shi'ite banksters!

---

The other part of the equation, that I do not see enough of here at ZH is the FACT that we (.gov here) spend too much!  And WE put those guys there.  WE believed their promises, and so WE voted for them.  Hope and Change, what a crock...

Also, WE as a people are spending too much of our own money, in debt to the wazoo.

So, it is OUR fault too, bitchez!  Stop spending!  Start saving!  Gold is a good place to start.

oldman's picture

Extremely well said, Truth,

I was just wondering why a dude like Dimon would lash out so defensively, but another thought cut that one off and left only a 'knowwing' for lack of a better vocabulary, that the dude is terrified of what is coming----including well-deserved jail time

PIISFUK is perfect, lad    thanks for that also      om

Stoploss's picture

FUCK JAMIE DIMON AND JPM, FUCK BAC, FUCK WELLS FARGO, FUCK WARREN BUFFETT, FUCK GS,(YES I KNOW THEY RULE THE WORLD), FUCK CITI GROUP.

AND ABOVE ALL........................................................FUCK THE FED.............................................................

TheFourthStooge-ing's picture

Attention Jamie Dimon: Butt-fuck your own face! Fuck your face in the ass!

 

 

Votewithabullet's picture

This cocksucker is young enough that he may live to see actual retribution.

Bay of Pigs's picture

Oh, so you flip flop on the Banksters on different blogs depending on the crowd? Sounds about right.

Ponzified Plebe's picture

While hanging Dimon might be desirable, it has the downside for the executioner of a capital offense. Why not just place the guy under citizens arrest? In the end he'd probably walk, but it sure would humiliate that ass hat.

bigdumbnugly's picture

from the jamie dimon thesaurus:

anti-american:

any rule jpm may need to adhere to that lessens the white-knuckled vice grip jpm, et. al. have on the rest of the world's balls. 

Gene Parmesan's picture

Jamie Dimon is anti-american.

TruthInSunshine's picture

Jamie Dimon is a financial terrorist.

Some may say that's hyperbole, but an accurate and methodical analysis of what he and his brethren on Wall Street and in investment banking actually did can lead to no other conclusion that he and they were in large part, although not exclusively (The Federal Reserve, Congress, President, and government regulatory agencies and GSEs share the blame), directly responsible for imploding the global economy, and that what Dimon, his minions and his cohorts did was done intentionally, with full knowledge beforehand that they would profit from it, because they (stealthily) positioned to take financial advantage of the imposion, after rigging the system with explosives.

 

Jamie Dimon Comfortable w/Europe Exposure - Video Interview

 

That's fantastic. So if (when) JP Morgan gets whacked due to events in Europe, Jamie Dimon will not request or receive any government, taxpayer bailout teat, and in fact, Dimon will pledge that JPM won't accept any government support. /sarc/

dcb's picture

the biggest mistake americans made after this crisis was not putting these guys up against a wall and subjecting them to mob justice. Dimon makes lloyed look good lately

SheepDog-One's picture

I said at the time that was JUST what we should do! But Nooooooo back in those days everyone said 'But the nice lady on CNBC said TARP and QE will WORK, all the top analysts agree and besides Bernank has to be good hes Man of the Year and we've also got The Messiah'!!

bxy's picture

- The regulators are regulating the crooked crooks, but then who is regulating the crooked regulators?

Withdrawn Sanction's picture

Indeed, the age-old question:  who watches the watchers?

mkkby's picture

Fuck Obama as well.  It's HIS justice department that's looking the other way.  He gives the orders.

Racer's picture

This is a classic 'let them eat cake/ipads' totally out of touch with the 99% statement

catacl1sm's picture

Dimon and Blankfein should be in the bighouse wearing orange jump suites with Madoff, playing "hide the sausage". I bet they're real 'tight', too.

eatthebanksters's picture

They should be smoking jailhouse cigars daily!

DoChenRollingBearing's picture

Buy gold.  That is how to show your distaste for the banks.

depression's picture

Gold + Credit Union + Cash = Profit

FAZ Bitchez !

No One's picture

In the current America, Jamie is 100% correct.

economicfreefall's picture

Don't you worry. If you've been busy the past few decades looking for signs of general deflation, you can continue your quest. The Deflation Ghost won't come out of the closet to disturb your search this time either. Ghostbuster Ben has loaded his proton gun and is ready to fire if the monstrous deflation so much as sticks its chin out. And he's got his partners right behind him. Mervyn King and Jean-Claude Trichet have passed the tests and are now officially members of the squad. Together they'll march the streets and sweep them clean from any signs of deflation.

 

www.economicfreefall.com

L G Butz PhD's picture

Any properly trained economist, observing the secular stagnation weighing down the global economy, should recommend government intervention. How can the doctor, having correctly diagnosed the patient’s condition as the common cold, stand idly by and not write prescriptions for an antihistamine and an antibiotic?

Withdrawn Sanction's picture

Any "properly trained" MD knows antibiotics are useless against colds.  Similarly, any thoughtful economist (as against those "properly trained" in the status quo) realize government intervention is not only pointless but positively counterproductive. 

oldman's picture

Hey Elgiebutz,

You're right?

How about some medicine for yourself---and I suggest four onces of cactus juice a month for ten consecutive months beginning as soon as you can cook it up. It will give you a wider view of reality      om

Woop's picture

Hi LG, the common cold is viral, and anti-biotic treatment is therefore ineffective.

 

But, I understand your analogy.

Motley Fool's picture

Hate to say it, but from a foundational perspective, more regulation Is un-American. Of course,the amount of benefit the banks derive from regulators at this stage far outweighs this, and those regulations are un-American for the exact same reason.

karzai_luver's picture

what horseshit...............utter crap.

 

foundational,,,,,,,,,,,,,,,what the hell are you babbling about.

 

 

bwhaaaaaaa.

 

Grimbert's picture

Un-American or anti-American?

There's a difference. 

Motley Fool's picture

Good point. I shouldn't equate the two.

I am a Man I am Forty's picture

if you get bailed out and take taxpayer money you should be tightly fucking regulated, i would prefer out of fucking business, but in the fascsistoligarchcronycapitalisticpieceofshit we live in they need to be regulated

SheepDog-One's picture

'Anti american' translated 'A crooked billionaire bankster might take a hit'

slewie the pi-rat's picture

i'm glad that's not directed @ anybody i know

it's nomi v the morgue! 

in banking, the thing about capital is that ya can't borrow it.  won't work!  must have equity at risk~~don't want them "banking" @ the casino via shelled-out zombie corpo's now, do we?  it's like telling jamie to eat his broccoli...

jmc8888's picture

I'd like to see Jamie's head explode WHEN Glass-Steagall is reenacted.  The only question is, before or after virtual armageddon hits. Before or after the pitchforks....in which case, we all might see his head anyways.

But it's always better to actually fix things before the shit hits the fan.  Glass-Steagall or the shit hits the fan.

Alex Kintner's picture

I prefer it happens after the Heads on Poles phase. Hey, I love a good parade.

Alex Kintner's picture

Give him back all the worthless MBS for which he recieved 100 cents on the dollar from taxpayers. Maybe that will shut his pie hole.

Of course, This should be done to all the Banks regardless.

b_thunder's picture

Easy, lady, you're talking about our new Treasury Secretary. Dimon now is waht Hank Paulson was in 2005 and early 2006, the leader of the most profitable bank, aka the unofficial "leaded" of the banking cartel.

And just like Hank Paulson was put into the Secretary of the Treasury so that he could administer TARP I, Dimon will replace "placeholder" Geithner when the Wall St fortunes turn sourth and the TARP II will be provided as asked.

eatthebanksters's picture

It's only profitable because of revised FASB mark to market rules changed in Nov. 2009....otherwise JPM would be in the tank.

vast-dom's picture

It would actually be MORE cringe-inducing if any government-subsidized bank CEO spouted ANYTHING OTHER THAN self-serving, entitlement-laden idiocy to the world -- bc at that point they'd have wisened up expanding their Machiavellian pre-frontal cortex by incorporating reverse-psychology into their $kaM$.


These banksters and politicians make sociopathology approximate normalcy!  Remember: the nature of a scorpion never changes, even when ferried by kind frogs (e.g. sucker taxpayers) for their very own self-preservation.

 

One day............

Ellesmere's picture

Waterboarding these guys is legal now right?

I mean Alan Dershowitz said it was OK didn't he?

mkkby's picture

According to the US justice department anyting pain inducing is legal until it causes organ failure.

Coldfire's picture

Hey lighten up, will ya? Even Jamie Dimon is entitled to his drivel.