JPMorgan666

JP Morgan Chase sued - for FRAUD - Again !!!

2011-06-20T23:57:00.003-04:00

This story from our friends at OhioFraudclosure. They are hard at work exposing the foreclosure fraud in Ohio. Click on their link above and visit them frequently.

Two (2) Major Lawsuits seek close to $ 1 BILLION DOLLARS

Mounting evidence of outrageous behaviour and even more examples of outright FRAUD (committed by JP Morgan Chase?) has become so overwhelming & obvious, that soon, we'll need "State Scorecards" to track the sheer volume and huge numbers ...of lawsuits... being filed against JP Morgan Chase.

Read their full story...click here

New York State Foreclsoures Grind To A Halt

2010-11-15T15:06:00.000-05:00

This article originally posted in BarackObama666.com

In the three weeks-plus since New York State Chief Judge Jonathan Lippman put the foreclosure lawyers on notice that any fraud in foreclosure paperwork would be met with severe penalties -- he is making lawyers sign affirmations promising they took "reasonable" steps to make sure the legal papers are true -- practically no new foreclosure cases have been filed, The Post has learned.

This action speaks loudly and should speak loudly to Chief Justices in all 50 states. The banks and their lawyers have been and are still committing fraud which last I saw is against the law. Even the Bar Associations of every state seems to condone this fraud as they themselves – as the watchdog over lawyers – do nothing given all the evidence that has been made public.

Read more in the New York Post...click here

Editor's Note: This article was written for our sister site - TheForeclsoureDetonatorFORUM.

What is causing this in New York? The fact that the chief judge in New York – Chief Judge Jonathan Lippman – told all attorneys that any fraud found in any of their foreclosure filings would be met with severe measures. The New York Post reports that

he is making lawyers sign affirmations promising they took “reasonable” steps to make sure the legal papers are true.This affirmation has caused not only no new foreclosure actions being filed but existing cases are in a holding pattern.

Lawyers in New York, I believe, know that the paperwork they have is shoddy at best and that there may be fraud existing in the files they receive from the banks. At the very least, in order to prevail, they would have to create fraudulent paperwork – ala David Stearns old paper creating firm Weforgem and More, LLC (not really the name of the company he created to forge docs but I just could not resist) New York lawyers – seems like all of them handling foreclosures for banks – are afraid to lose their license and they should be.

This action speaks loudly and should speak loudly to Chief Justices in all 50 states. The banks and their lawyers have been and are still committing fraud which last I saw is against the law. Even the Bar Associations of every state seems to condone this fraud as they themselves – as the watchdog over lawyers – do nothing given all the evidence that has been made public.

I believe that anyone is innocent until proven guilty- but in this case – the evidence is conclusive. It is out in the open for all to see and there are plenty of credible admissions to this fraud. What more do we need to begin prosecuting? I, for one, would give rob – signers immunity in exchange for their testimony. They, after all, were just doing what the boss was telling them to do so they could get their measly paycheck at the end of the week. The boss, on the other hand (all CEO’s), were giving out instructions for this fraud so they could continue to get their hundreds of millions in paychecks. Yes, I am making the assumption here that the CEO’s are or were aware of the fraud and therefore should be held accountable. Again, innocent until proven guilty but in this case if one goes back to investigate all the fraud that has taken place one would find, I believe, that the CEO’s were very much aware of the fraud and probably gave instructions themselves. You see, some of this fraud could only have been committed with instructions from very high levels. Just like the case with Bernie Madoff. If anyone still believes he acted alone then I would like to sell you the Skyline Bridge here in Tampa Bay. (It is a better value then buying the traditional Brooklyn bridge because of the weather) Any takers? I have an even better idea for the sale of this bridge – I will securitize it and each of you non believers in the extent of this fraud can buy a share of it. Now, any suckers, I mean takers?

Yes, folks, I along with dozens of other bloggers have been trying to expose this fraud for months and in my case for years. Problem is, we have but somehow the law and those responsible for uholding the law – judges, prosecuters, Bar Associations, lawyers, Attorney General’s (Federal and State) don’t seem to care to uphold the law for some. A selective process which eventually will bring down our entire legal system and the democracy within what used to be a Republic will disappear. The “elite” few will rule and function outside of the law while the rest of us peasants will be overly subjected to these same laws losing our lives, our liberties and our ability for our pursuit of happiness.

WAKE UP AMERICA. Only “we” can bring justice back. Only our combined, unified voices can make our lawmakers and police enforce the law against everyone. No one is Too Big to Fail nor Too Big Not To Go To Jail.

Read the entire N.Y. Post article…click here

The Wall Street Conspiracy...As broadcast on TruTV's "Conspiracy Theory"

2010-11-09T14:00:00.000-05:00

This is a MUST SEE program.

Jesse Ventura, former Governor of Minnesota and host of TruTV's program Conspiracy Theory exposes the scam that brought the country into financial ruin. He exposes - through interviews with Wall Street insiders such as Nomi Prins, former Goldman Executive turned whistleblower and Matt Taibbi reporter for Rolling Stone and author of the "Giant Vampire Squid" label he placed on Goldman. Also interviewed such people as Rep. Ron Paul in reference to the Federal Reserve offering some very important information which some of us already know but all need to know.
This program exposes the criminal activities, the fraud and the cover ups that lead to the Great Recession we are still in the midst of.

This is a must see program already viewed by thousands but should be viewed by all Americans. We Americans have been "had". We have been "duped". We have been and robbed. In fact, we are still being robbed. As I have been saying, a systematic program of stripping Americans of all their assets - money, property, jobs and entitlements - leaving us totally dependent on a government controlled by Wall Street, the Federal Reserve and their true owners - foreign bankers whose families were involved in its inception back in 1913 and will continue control until we, as a nation, decide to dissolve the Federal Reserve.

There have been thousands of views already. If you like it like I do, then please forward it as well. America MUST KNOW the truth. The information in this program just further verifies what I and others have been writing about for years.

Wall Street Conspiracy with Jesse Ventura...Part 1

Part 2

Part 3

Who Owns My Mortgage Note...Demand To KNow

2010-10-12T17:02:00.000-04:00

This email came to me from SEIU - Service Employees International Union - a union, who for the most part, supports "the people". I say, "for the most part" because there are times when I do disagree with them but as far as unions go, this is one of the better ones.

It includes a link to a web site that allows you to easily modify a letter to your bank and allows you to email it with a simple click of a button.

It has a very comprehensive list of banks and a link to go to if your bank is not included. In addition, it provides a toll free number for each bank.

there are two problems I find with this web site - www.wheresthenote.com. The letter is addressed to "the bank" not the servicing company that actually is managing your account. However, in many cases, your servicing company is owned by the bank addressed to. You need to refer to your payment stubs or your payment book of coupons to see who you actually make your check payable to or if already in foreclsoure, who the named Plaintiff is.

The second problem I see here is in the body of the letter that you can and should modify.
The last paragraph of the letter reads:

To protect myself and my family, I need to know who owns my mortgage. Within thirty days, I would like to know the name, address, and phone number of the bank or investor that owns my mortgage. Furthermore, in light of the recent allegations of foreclosure fraud, I demand to see the original mortgage note proving ownership over my home loan. If you fail to produce a mortgage note proving that you have a right to collect my mortgage payments, I will be forced to consider all options available to me to ensure that my family and my home are protected.

The last, highlighted bold sentence is the one I don't agree with. This is why and I will bold my comment.

You are asking "the bank" - not necessarily your servicing company - to give you the name and address of the "true" owner of your note. If your "bank" is not the "true" owner then it will not have, should not have and cannot produce the original note. Second, if you are writing to your servicing company (that often have the name of the bank as part of their name) they never own your note and therefore should not have the original note in their possession.

Having possession of the note DOES NOT, I repeat, DOES NOT give them the right to collect your payments nor take any foreclosure action against you. You will have little defense if you stop making your payments to them or take any legal action against them for not providing a copy of the original.

If you want to insure that whoever you are writing to has the right to collect your payments you should ask them for a copy of their servicing agreement with the "true" owner of your note or at the very least that "portion" of the agreement that indicates their servicing rights. They will not disclosue to you their entire agreement which would include their fees, etc

Here now the email:

Larry,
The big banks' BS is starting to catch up to them.

Last week, JPMorgan Chase announced they were halting foreclosures in 23 states. Turns out, the bankers in charge of approving the foreclosure paperwork weren't even reading what they were signing. Now, one by one, foreclosures at America's biggest banks are grinding to a halt. It's gotten so bad, several states are taking the banks to court - calling for an immediate freeze on all foreclosures.

The banks created this mess, it's on them to clean it up. You have a right to know if your mortgage is affected. If you're a homeowner, will you send a letter to your bank and demand to see your original mortgage note? You can do it online in less than five minutes: http://www.wheresthenote.com

Wall Street has bought and sold our mortgages so many times, they've lost track of who owns what. And now they're getting caught red handed. In one state, two banks tried to foreclose on the same home. In another state, BofA tried to take a house away from a man who'd never even had a mortgage. The more we learn, the worse it gets.

It's time to pull the curtain all the way back. Demand to see YOUR mortgage note: http://www.wheresthenote.com

Banks are calling these "technical glitches." These are more than technical glitches. These are monumental screw-ups that are forcing families out of their homes. The banks raise our rates and change our terms - and if we make one mistake, we pay with our homes.

Now it's our turn to demand accountability from them. Visit http://www.wheresthenote.com and demand to see your mortgage note.

Thanks,
Stephen Lerner
SEIU.org

PS - Don't have a mortgage? Pass this on to someone who does. Every single homeowner needs to know if their bank still holds their mortgage note.

SERVICE EMPLOYEES INTERNATIONAL UNION

Here now is my recommended version of this letter. Pass this on to anyone and everyone you know. The more email letters all the banks receive, the more they will begin to get the idea that we "do not trust" them and we will no longer allow them to operate with special exceptions to the law. As I always have said and maintain, "THE LAW IS THE LAW FOR EVERYONE".

To whom it may concern:

I own the property at the address listed above, and your bank services my mortgage.

Over the last several weeks there have been many stories documenting the problem that banks are foreclosing on homes without proof that they own the loan. I have learned that in many cases, banks like yours do not even know who owns the loans you service. Employees at several leading banks have admitted to rubber stamping tens of thousands of foreclosures every month, without even checking to make sure that the bank had a legal right to proceed with foreclosure. In some cases, banks allegedly falsified mortgage documents to cover up their mistakes. There have been reports of two banks trying to foreclose on the same home, banks foreclosing on homeowners who were current on their payments, and even of a bank foreclosing on a home where the homeowner had never taken out a mortgage to begin with. This is not merely a "technical problem"--it is the difference between having a warm bed at night and being out on the street.

As a homeowner and a customer of your bank, I am horrified. I had always believed that it I played by the rules, I would be protected, but now I know that banks like yours think the rules don't apply to them.

To protect myself and my family, I need to know who owns my mortgage. Within thirty days, I would like to know the name, address, and phone number of the bank or investor that owns my mortgage. Furthermore, in light of the recent allegations of foreclosure fraud, I demand to see the original mortgage note proving ownership over my home loan. I would like to see copies of all endorsements and assignments of my mortgage note and where and when the assingment(s) _if any - were recorded. I also ask that you provide me with evidence of your firm being contractually retained to service my loan. (italics indicate added by LR)

If you fail to ~~produce a mortgage note proving that you have a right to collect my mortgage payments,~~ provide the information I am legally entitled to, I will be forced to consider all options available to me to ensure that my family and my home are protected.
(italics indicate added by LR)

I ask that I receive my response in writing.

Thank you for your attention to this matter.

Bank Fraud Editon: Fraud, Fraud and More Fraud

2010-10-08T18:28:00.000-04:00

Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states This is big. (See story in The Huffington Post)
Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states This is big. (See story in The Huffington Post)

Just the other day they announced that they were halting their actions just in the 23 states where they must go to court in order to complete a foreclosure. These states are referred to as judicial foreclosure states. The other states, referred to as non judicial foreclosure states do not require that the lenders or banks go to court to foreclose. They simply place a notice of sale on the door of the home indicating that the home will be sold at auction on a certain date.

Read More...click here
Editor's Note: This article first appeared in GoldmanSachs666.com

The People vs The Banks

2010-10-07T13:56:00.001-04:00

Disclaimer

The bank which is the topic of this post and following video clip was not identified. By posting this article in this blog and presenting the video clip from Dylan Ratiga we are in no way implying that the bank referenced is JPMorgan.

Most of us use them (banks) everyday. They are on every street corner. We voluntarily give them all of our money every pay day. We use them to store our money. We trust them. ???
I don't think so. If ever there was an enemy of the people out there it is the bank. They have been given favorite status by our lawmakers and enforcers and were allowed to steal from us in the open. Now they continue their illegal criminal activities against us.
Here is just one more example of how blatant and bold the banks are and how they have a total disregard for the law and the people in this country. This video clip comes to us courtesy of Mathew Weidner, Esq. It is a clip from MSNBC's Dylan Ratigan Show. Mat - who appear on this clip will also appear on Dylan's show today at 4:00 PM. We will post that clip as soon as it is available.

Visit msnbc.com for breaking news, world news, and news about the economy

It Begins...Ohio Files Suit:: As Posted in GoldmanSachs666.com

2010-10-06T23:53:00.001-04:00

This Open Door Into Fraud Could Lead All Way Up The Ladder.

Even Goldman Sachs may not be immune from further investigations of fraud. Goldman still owns mortgage companies but their real problem will come when fraud investigations into the securitization process and Credit Default Swaps begin as a result. Isn't that how things usually happen. One small item leads to much bigger ones. The lid of Pandora's Box is officially open.
Thank you Sean for sending this link. Here now the story from the Huff Post:
Ohio Attorney General Sues Ally Financial Over Alleged Foreclosure Fraud, First In A Possible Wave Of Lawsuits

WASHINGTON — Ohio's attorney general is suing Ally Financial Inc. and its GMAC Mortgage division, alleging the company violated state fraud laws in handling foreclosure cases.

The action could be the first in a wave of lawsuits by state regulators over what appear to be widespread problems in documents used by the nation's largest mortgage lenders.

Attorney General Richard Cordray said Wednesday the alleged fraud could involve hundreds of foreclosures in the state. The lawsuit claims the company's employees signed and filed false affidavits to mislead courts. Cordray called the alleged fraud the "tip of an iceberg of industrywide abuse of the foreclosure process."

A message left at Ally was not immediately returned.

Read the Rest...click here
The truth is finally coming out and our government and legal structure can no longer sweep this under the rug. Action will be taken and will have to be taken. Look for many of our Too Big To Fail friends to begin to fail. I don't believe there will be any more bailouts. Understand that Ally Financial 0 once GMAC - is still living and working under the bailout we gave them. How dare they use our money to commit more fraud.

Ohio AG sues GMAC, Ally over foreclosure fraud (marketwatch.com)
Ohio AG to File Suit Against Major Loan Servicer (abcnews.go.com)
Ohio AG Sues Ally Financial Over Foreclosures (nytimes.com)
AG Holder says Justice looking into foreclosures (seattletimes.nwsource.com)
Iris Martin: Homeowners: The Courtroom is Your Battlefield (huffingtonpost.com)
GMAC Mortgage Statement on Ohio Lawsuit (prnewswire.com)
Ohio Attorney General Sues GMAC, Seeks $25,000 per False Affidavit (news.firedoglake.com)
Ohio AG to file suit against major loan servicer (seattletimes.nwsource.com)
Ohio AG sues Ally Financial over foreclosures (seattletimes.nwsource.com)
Ohio AG Sues Ally Financial Over Foreclosures (abcnews.go.com)

Big Bank Fraud Exposed...Finally! As Published in GoldmanSachs666.com

2010-10-06T15:59:00.000-04:00

Ponzi is turning over in his grave!

To think that the scheme - named for him - of defrauding people has reached a level which can never and will never be reached again.

We have all been hearing and reading about the latest and greatest in foreclosure fraud committed by GMAC (Now Ally Bank), JP Morgan Chase and Bank of America who have voluntarily suspended foreclosure actions in 23 states which require the use of the court system to accomplish a foreclosure (these states are referred to as Judicial Foreclosure States.

A short summary of what this is all about.

A law firm - ICE Legal - in Palm Beach County, Florida discovered in a deposition that an Affidavit attesting to personal knowledge of the mortgage account in foreclosure was fraudulent.

The importance of this Affidavit is that it is a requirement by Florida Statute in order to request a Summary Judgment to foreclosure on a property. It is apparently a requirement in in the other 22 Judicial Foreclosure States as well.

What the attorney from ICE Legal learned in the deposition (information given under oath) was that the person who signed the Affidavit attesting to having had personal knowledge of the account and case - in fact did not. Even more disturbing in his deposition was the admission that he and a team of others literally signed thousands of these Affidavits a month under the direction of the law firm representing GMAC. This admission prompted GMAC to immediately halt all foreclosures in Florida and the other 22 Judicial Foreclosure states.

Within days JP Morgan and Bank of America also admitted to the same fraudulent activity and also suspended all foreclosure action in those 23 states. Today, Wells Fargo also admitted to having done the same but has not as yet suspended forclosures. They are simply looking into the situation.

Make no mistake here folks, this type of activity is pure and simple fraud and by submitting flatulent documents as evidence in a court of law it then becomes fraud on the court as well.

The topic of fraudulent foreclosures by the banks has been my primary focus for the past 3 years when I first began writing about it as a Guest Writer in Flippingfrenzy.com, TheMortgageCornerFORUM and TheForeclosureDetonatorFORUM.

Few people believed me in the past when I said that the banks were committing fraud causing the mortgage meltdown which later turned into the worst financial crisis the world has ever seen - yes, worse then the Great Depression. Few believed me when I said three years ago that the banks are committing fraud and foreclosing illegally in many if not most foreclosures. Few believed me when I said that the banks were committing fraud on the courts providing forged, created or misrepresented documents. And few believed me when I said that the parties acting as Plaintiffs in many of our foreclosures do not have the legal right to do so (this is called Standing) as they do not own the mortgage notes they are foreclosing on.

Of course, over the past three years many of my stories have been substantiated by people like Federal Judge Boyco of Ohio who dismissed 17 foreclosure cases against one bank in one day saying that they lacked Standing - they could not prove ownership of the notes therefore they could not foreclose. Another such person was New York Superior Court Judge Arthur Shack who also denied banks their foreclosures for the same reason of not having Standing.

Other judges in Ohio, New York, Florida and a few other states have as well ruled the same way. In addition, some of these judges found evidence of falsified documents and even sanctioned the law firm for attempting to commit fraud on the court.

What is important here is that this case of Affidavit fraud will open the door to all the other frauds committed by our banks - expecially our Too Big To Fail banks like Goldman Sachs. Goldman is very much involved in much of the early frauds having to do with securitizations I have written about here in the past. .They also own mortgage lending companies that have been and probably still are involved in the most recent evidence of fraud.

Many of the frauds committed by GS and their Wall Street cronies have been written about, talked about and exposed yet little if anything has ever been done. You all know I have been calling for justice on this issue. So far they all have not only been deemed Too Big To Fail (GMAC was included in that if you remember and we own most of that company today) but have seemingly been granted some type of immunity against any prosecution for obvious illegal and fraudulent activities. They seem to have been above the law as well.

Well, this may all finally be coming to an end and justice may yet be served even though I believe it will still be a slow painful process.

To explain all of this further, here is the article I posted yesterday on my sister site - TheForeclsoureDetonator.

Bank Fraud FINALLY In the Limelight

I have not been the first to report on this as I have been busy reading all of the other reports on this topic. Pandora's Box has finally been opened.
This "robo- signer" fraud is only the tip of the iceberg that ICE Legal (no pun intended) in Royal Palm Beach, Florida (Palm Beach County) discovered during "discovery". His deposition caused GMAC (ALLY Bank) to halt foreclosures in 23 states. This action was then followed by JP Morgan Chase and as of this past

Friday, Bank of America. I am sure we will see many other of our major banks follow suit as this practice of submitting fraudulent documents to the courts is wide-spread.

While this news is finally showing how banks are committing fraud in our courts by submitting fraudulent Affidavits attesting to personal knowledge of each foreclosure case and mortgage account, I believe, is only the beginning.

Back Door To Fraud

The banks and their attorneys - commonly called foreclosure mills - have been committing fraud on the court since the beginning of the once called "mortgage meltdown" and the current foreclosure crisis. The fraud was committed when many loans were originated.

Mortgage brokers - who were accused by the big box banks of creating all of these "bad loans" - submitted deals to the banks. It was the job of these banks/lenders to "underwrite" these loans then decide if they would approve them or not. In many cases they approved loans knowing that there were fraudulent documents in the file or knowing that the ability to repay did not exist. In other words, the banks
approved and funded loans they knew were foreclosures in the making. They blamed the brokers when it was their job to make the decision to approve and fund or to deny.

FYI, Fannie and Freddie very much did the same. You see, they created a computer underwriting engine that would automatically underwrite a loan input by any loan originator including the mortgage brokers. They (F & F) frequently tweaked the system so that it would approve more loans. They sent teams of people out into the field to teach originators how to use their automated underwriting (AU) systems, called Desktop Underwriter (DU) for Fannie Mae and Loan Prospector (LP) for Freddie Mac's version. In these "field" workshops they taught us how to manipulate the system to get approvals. They taught us to keep changing the information such as income and assets until the system gave us an approval often not requiring any verification. Once the system gave us the desired approval we were then told to hit the submit button which would give the official approval.

Read the Complete Article...click here

it is time that the people of this country get the justice they so deserve. We can not allow our justice system to be hijacked by the banksters their politician buddies many of whom are their former employees.

Goldman Sachs was given a mere pittance of a fine for just one small illegal activity yet the bigger crimes still go unnoticed and unpunished. I truly believe this is a new beginning for the people and perhaps even a new beginning for this blog. These banksters must learn that they cannot rule us, take from us our Constitutional right of Due Process and trample over us at will for their own personal profit and gain.

For the first time in three years I feel somewhat encouraged.
As I have always said:

"The law is the law for everyone"

and as relates to the massive illegal foreclsures,

"Two wrongs don't make a right".

You cannot lie and commit fraud in an attempt to correct a problem you created in the first place.

Admission of Guilt With No Consequences...We Need Justice For All

2010-09-30T16:39:00.002-04:00

Editor's Note: it is important to know that this provides further evidence that banks can get away with criminal activities and have been. We have seen over the course of this blog that JP and others have committed offenses that for most others would have meant prosecution. Now we see that fraud committed by banks is an ongoing criminal activity that perhaps should be prosecuted under our RICO laws. Our courts are not only being abused by our TBTF banks but they have become willing accomplices against the very people they are empowered to protect.

The story of bank fraud, committed by the banks themselves is an ongoing story that has been on the side lines since the very beginning of the "meltdown" in 2007. Banks lied then to protect themselves, they continued to cheat and lie to protect themselves, they lied (along with our highest elected officials) to get our money so that they could steal from us even more.

This is a story of a financial system gone bad. It is a story of a government taken over by a financial system gone bad and it is a story of a once free people in a nation whose Constitution has gone bad. Everything we once had and stood for has been destroyed by our banks.

This site will continue to expand on these abuses.

Maybe my prayers are being somewhat answered. That legal guru in the sky must have been reading my posts and rained some bad mojo down on a couple of offending lenders.

We have read in days past of GMAC's voluntary suspension of foreclosures in 23 states and had heard that JPMorgan was contemplating suspensions of foreclosures as well. Today we learn that JPMorgan is in fact suspending over 56,000 foreclosures pending reviews of documentation - specifically Affidavits - provided to the courts, many of which may be fraudulent.
In GMAC's case, there is definitely admission of guilt under oath by two offenders who did in fact lie and commit fraud when they signed the Affidavits attesting to personal knowledge of the accounts in question.

But it still mystifies me that knowing fraud on the court has been committed, there seems to be no consequence to these illegal actions. As one of our readers, Grady, wrote in a recent comment,

So now we have two major lenders admitting that their employees and the fraudsters that represent them, have quite possibly and probably, (actually have as we all know) committed fraud on the Court and perjured themselves. (emphasis added)

Where are the criminal prosecutions? Where are the dismissals with prejudice? Where are the sanctions? (emphasis added) LR Note: I agree with all of these questions. If it were you or I who committed these frauds, we would have been arrested and prosecuted immediately. Again, there is a separate set of laws for those we call Too Big To Fail.

We all know that they will just withdraw the fraudulent documents and refile new ones and it will all blow over, business as usual in the kangaroo courts.

Grady is right, it will be business as usual as they will just withdraw any fraud documents and refile new ones. It is like robbing a bank then returning the money in exchange for not being prosecuted. More legal precedence being set?

However, there is some sunlight here as well. The recognition from chief judge of the Sixth Judicial Circuit in Florida - which includes Clearwater and St. Petersburg - that there are legal issue problems here and despite the Florida legislature's push on "Rocket Docket" efforts to clear the dockets of foreclosures, that a slow down and more careful examination of each case must be made.

According to the New York Times report today, JP Morgan Suspending Foreclosures,

Judge McGrady predicted that the foreclosure process in Florida, which the Legislature has been trying to speed up, would have to slow down.

“Everyone is going to have to look at these cases more closely,” said Judge McGrady, whose circuit includes St. Petersburg.

Says Judge J. Thomas McGrady,

“I don’t want to say that every one of these cases is wrong and a fraud on the court, but it is a big concern for us,”

"Fraud on the court" he says, the first time I have seen that term used outside a very few specific cases. The fact that he says "it is a big concern for us" tells me that the fraud on the courts is widespread and they (judges) can no longer just look the other way as they have been doing.
It will be interesting to see how judges in the 6th Circuit handle each case now.

It will be especially interesting to see how the newly rehired, retired judges - whose mandate it is to clear the dockets of foreclosures - will rule. It will be difficult for any layperson to evaluate since once open and public hearings are often closed to the public (another injustice and violation of public rights).

It remains to be seen how this new evidence is handled in Judicial foreclosure states around the country. This is not an isolated problem involving just two lenders. It is widespread throughout the servicing companies and foreclosure mills (attorneys representing lenders) who initiate and handle these foreclosures. Fraudulent documents, forged documents, back dated documents or many times no documents such as Assignments or Endorsements proving transfer of ownership to the entity taking the action.

We have admission and plenty of evidence of fraud on the courts from around the country. Remember, Judge Boyco, the Federal Judge in Ohio who dismissed 17 foreclosure cases in one day against one lender back in 2007 for not having the proper paperwork proving the standing of the plaintiffs to take the action? There was also Judge Shack, the Superior Court Judge from New York who dismissed cases for improper paperwork and for failure to prove standing. This was back in 2008. There are other judges who have taken the same actions of upholding the laws against the banks as well. Now it is time for all judges around the country in all courts hearing foreclosure cases to uphold the law as written and to punish those who would openly abuse the laws.

As I asked in yesterday's post - Let's Ramp Up The Fight Against Illegal Foreclosures and Fraud By Banks - where is everyone who has the authority to take action against what is and has been obvious illegal activity from lenders, servicers and attorneys? Should not the Bar Association take action against any and all lawyers who have been complicit in these frauds? Should not the Attorneys General of at least all judicial states take legal action and bring charges against the lenders/banks or servicers as well as their attorneys? After all, these practices are illegal and the law is the law for everyone regardless their economic standing.

Let's see how all of this plays out. It is a beginning. It opens the door even further to the illegal practices of banks and their attorneys which is seemingly condoned by our government and our courts. How much longer will this be tolerated by us?

Editors Note: This article was written for publication in TheForeclosoureDetonatorFORUM but will be simultaneously be published in JPMorgan666.com, BarackObama666.com, GoldmanSachs666.com and TheMortgageCornerFORUM

The Gold and Silver Scam and JP Morgan Chase

2010-09-06T21:53:00.000-04:00

The financial world has been scamming us for years now. They have stolen our wealth and now control most of it both personally and corporate wise. Read this expose of JP Morgan who might just have perpetrated the biggest scam in the history of the world.

Tom Pappalardo: Gold & Silver Trading Biggest Scam in History Financial Armageddon Could Result as posted in Industry-News.org.
JP Morgan Chase’s very likely profound manipulation of the silver market to the CFTC. As financial government watchdog agencies are wont to do these days, they did their best to sweep it all under the carpet. How the SEC handled Bernie Madoff’s ponzi scheme is a prime example of this. This matter is not a ponzi scheme but it is a the largest scam ever going into the trillions of dollars territory.

Read it all...click here

JP Morgan's Bribery Problem

2010-04-02T12:14:00.002-04:00

Matt Taibbi has a new article up at RS. Here's part of what he has to say about the article:

"....It’s about Jefferson County, Alabama, and how a group of Wall Street banks (in particular JP Morgan Chase) ran the Birmingham area into the ground with predatory interest rate swap deals."

Looting Main Street

How the nation's biggest banks are ripping off American cities with the same predatory deals that brought down Greece

If you want to know what life in the Third World is like, just ask Lisa Pack, an administrative assistant who works in the roads and transportation department in Jefferson County, Alabama. Pack got rudely introduced to life in post-crisis America last August, when word came down that she and 1,000 of her fellow public employees would have to take a little unpaid vacation for a while. The county, it turned out, was more than $5 billion in debt — meaning that courthouses, jails and sheriff's precincts had to be closed so that Wall Street banks could be paid.

As public services in and around Birmingham were stripped to the bone, Pack struggled to support her family on a weekly unemployment check of $260. Nearly a fourth of that went to pay for her health insurance, which the county no longer covered. She also fielded calls from laid-off co-workers who had it even tougher. "I'd be on the phone sometimes until two in the morning," she says. "I had to talk more than one person out of suicide. For some of the men supporting families, it was so hard — foreclosure, bankruptcy. I'd go to bed at night, and I'd be in tears."
Homes stood empty, businesses were boarded up, and parts of already-blighted Birmingham began to take on the feel of a ghost town. There were also a few bills that were unique to the area — like the $64 sewer bill that Pack and her family paid each month. "Yeah, it went up about 400 percent just over the past few years," she says.
The sewer bill, in fact, is what cost Pack and her co-workers their jobs. In 1996, the average monthly sewer bill for a family of four in Birmingham was only $14.71 — but that was before the county decided to build an elaborate new sewer system with the help of out-of-state financial wizards with names like Bear Stearns, Lehman Brothers, Goldman Sachs and JP Morgan Chase. The result was a monstrous pile of borrowed money that the county used to build, in essence, the world's grandest toilet — "the Taj Mahal of sewer-treatment plants" is how one county worker put it. What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human shit into billions of dollars of profit for Wall Street — and misery for people like Lisa Pack.

Read the rest of this great article here at the Rolling Stone site.

J P Morgan FRAUD !

2010-04-01T09:21:00.002-04:00

FRAUD! That about says it all, doesn't it?

On March 23, 2010, GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Maguire is a metals trader in London. He has been told first-hand by traders working for JPMorganChase that JPMorganChase manipulates the precious metals markets, and they have bragged to how they make money doing so.
In November 2009 Maguire contacted the CFTC enforcement division to report this criminal activity. He described in detail the way JPMorgan Chase signals to the market its intention to take down the precious metals. Traders recognize these signals and make money shorting the metals alongside JPM. Maguire explained how there are routine market manipulations at the time of option expiry, non-farm payroll data releases, and COMEX contract rollover, as well as ad-hoc events.
On February 3 Maguire gave two days' warning by e-mail to Eliud Ramirez, a senior investigator for the CFTC's Enforcement Division, that the precious metals would be attacked upon the release of the non-farm payroll data on February 5. On February 5, as market events played out exactly as predicted, further e-mails were sent to Ramirez while the manipulation was in progress.
It would not be possible to predict such a market move unless the market was manipulated.

..... more

JPMorgan666:Republishes 60 Minutes Story Published on GoldmanSachs666.com

2010-03-15T02:35:00.001-04:00

Not often do we republish our stories in our sister sites but this one is worth doing. It was posted earlier on GoldmanSachs666.com. I will be offering my comments on the story in my next post on GoldmanSachs666.com.

CBS 60 Minutes aired a piece tonight about the meltdown and crisis. They spent two days with author and former Wall Streeter Michael Lewis, who wrote the book Liar's Poker, his experience working for Goldman Sachs.

Inside The Collapse Parts 1 and 2: Click here as published in GoldmanSachs666.com

(CBS) If you had to pick someone to write the autopsy report on the Wall Street financial collapse 18 months ago, you couldn't do any better than Michael Lewis. He is one of the country's preeminent non-fiction writers with a knack for turning complicated, mind numbing material into fascinating yarns.

He wrote his first bestseller, "Liar's Poker," about his experiences as a young Wall Street bond trader when he was still in his 20s and has since followed up with seven more bestsellers on subjects ranging from Silicon Valley in "The New New Thing" to big time sports in "Money Ball" and "The Blind Side."

Image via Wikipedia

J.P. Morgan challenges Volcker rule ever being enforced

2010-03-14T03:37:00.003-04:00

"Originally, J.P. Morgan was in talks to buy the entire thing, including the U.S. business, for a discussed $4 billion or so. But fears about the potential imposition of a "Volcker rule" limiting banks' size and proprietary trading threw doubt on the efficacy of a deal running counter to both those aims. At first glance, J.P. Morgan's buying the international business anyway might look like a direct challenge to the Volcker rule ever being enforced. If so, why not buy the U.S. operations as well?"

"A full ban on prop trading by bank holding companies would render this moot. But the hope may be that, barring a full ban, this sort of business, away from the politically sensitive domestic gas-and-power sector, would escape tighter regulation. And with Sempra having also hired J.P. Morgan to advise on what to do with the U.S. operation, the bank retains a seat at the table for when the regulatory fog clears."

Nickle here: A few interesting "quotes" from this article in regards to speculating on JP Morgan's thoughts on future regulation.

"potential imposition of a "Volcker rule" limiting banks' size"
"this sort of business ... would escape tighter regulation"
"when the regulatory fog clears"

The whole article seems to be based on the thought that eventually the always fickle American people will grow bored of banker bashing in the same way people are already bored with Chatroulette.

As such it's no surprise that the bankers solution to this negative attention is not to solve the underlying problem but to "wait it out". Maybe they should check how this strategy is working out for Toyota...

JP Morgan moving from US ahead of potential legislation

2010-03-13T19:12:00.007-05:00

"JP Morgan's (JPM.N) private bank has embarked on an international expansion in a bid to reduce its focus on the United States, expand its Europe footprint and join the battle to tap the ultra-wealthy in emerging markets.

"MIDDLE EAST

"In Europe and the United States many are relying on capturing market share from rivals by poaching staff and clients, though Garnica noted corporate activity remains robust in some Middle Eastern markets.

"The Middle East is our biggest business and it continues to be a region where there is wealth creation. Again we have aggressive plans to grow there," he said."

Nickle here: Winds of change blowing down the immaculate hallways of JP Morgan's executive offices. Their confidence in the US political system begins to ebb as more and more Americans express their anger at the banks driving the US economy into ruin. The bankers can see the subtle changes in the US consciousness and they look to the riots in Greece.

"GREEK PEOPLE are disillusioned, bitter and frightened by a financial meltdown that has taken their country to the brink of bankruptcy. As anger mounts, the country’s dynastic political class is under fire."

Imagine millions of armed Americans standing with them. Seemingly unimaginable today, a very real future approaches where those issues faced in Greece are recongized as existing within the US. So the bankers, like JP Morgan, move on in the same way that a parasite leaves its host, once the host can no longer feed it in the way it has become accustomed to. That it is the Middle East they have chosen to move on to is a further cackle of contempt for the US economy they helped destroy.

JPMorgan CEO says wants regulation bill this year

2010-03-12T21:14:00.003-05:00

"PALO ALTO, California, March 12 (Reuters) - JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said on Friday that U.S. banks agree with 70 to 80 percent of proposed financial regulatory reform and he hopes a bill passes this year.

"Dimon, sounding a conciliatory note as Democrats move to sculpt legislation after efforts at a bipartisan compromise collapsed, also insisted that he and other banks support consumer protection although they oppose a standalone agency.

"Banks recognize, almost all of them, that the regulatory system failed and that we need to simplify it and strengthen it," he told an audience at Stanford University. "We agree with most of the proposals out there, I'd say 70 or 80 percent."

"But he insisted that the industry's views should be taken into account in crafting the legislation as well.

"We may be right about the other 30 percent and we are entitled to be part of the conversation," he said."

Nickle here: We've all heard of the term "entitlements" and now we hear that a bank's version of entitlements is helping to write the legislation that regulates and polices it.

JPMorgan role in Lehman collapse - ZeroHedge

2010-03-11T23:58:00.002-05:00

"In the days before Lehman filed for bankruptcy, JPM, which was a tri-party clearing bank, in a relationship we discussed long before most had even heard the name Anton Valuklas in our piece from October "A Rare Glimpse Into The Fed's Discount Window Courtesy of The Brewing Lehman-Barclays Scandal", started to escalate its collateral demands, in a foreshadowing of what was soon going to happen to AIG. Notwithstanding that this action may result in credible legal action against JPM, as, in the words of Valukas, "The Examiner concludes that there may be a colorable claim against one clearing bank – JPMorgan – arising from these collateral demands in 2008", we uncover something quite brilliant as to the quality of assets backing up collateral posted in the tri-party repo system. Note this is not the Repo 105 synthetic contraption, which apparently nobody had heard about before, not Geithner, not anybody at the FRBNY, not even Dick Fuld; this is a pure plain vanilla matched repo obligation, and a core component of the $3 trillion shadow banking system, which again was the topic of our prior post on this topic. Back then we ventured to guess that nearly worthless assets are used "on occassion" by assorted tri-party repo participants, and collateralized by JPM as clearing party, and ultimately by the Fed as end party on the other side of a tri-party repo. Little did we know just how far the stench went, and that worthless assets (and we do mean worthless) are very likely the norm. To wit from the report:

"On September 11, JPMorgan executives met to discuss significant valuation problems with securities that Lehman had posted as collateral over the summer. JPMorgan concluded that the collateral was not worth nearly what Lehman had claimed it was worth, and decided to request an additional $5 billion in cash collateral from Lehman that day. The request was communicated in an executive?level phone call, and Lehman posted $5 billion in cash to JPMorgan by the afternoon of Friday, September 12. Around the same time, JPMorgan learned that a security known as Fenway, which Lehman had posted to JPMorgan at a stated value of $3 billion, was actually asset?backed commercial paper credit?enhanced by Lehman (that is, it was Lehman, rather than a third party, that effectively guaranteed principal and interest payments). JPMorgan concluded that Fenway was worth practically nothing as collateral.

"Oh, and just in case Lehman creditors and owners of billions of Lehman sub claims trading in the low double digits feel like suing someone, we fully expect that Jamie Dimon will soon be getting a summons. From the examiner:

Finally, the Examiner concludes that the evidence may support the existence of a colorable claim – but not a strong claim – that JPMorgan breached the implied covenant of good faith and fair dealing by making excessive collateral requests to Lehman in September 2008. A trier of fact would have to consider evidence that the collateral requests were reasonable and that Lehman waived any claims by complying with the requests.

More to come.

JPMorgan Links and News - March 10, 2010

2010-03-11T00:55:00.004-05:00

JPMorgan Chase Files Notice of Foreclosure on Liberace Vegas Villa

Associated Content

JPMorgan Chase filed a Notice of Foreclosure on one of Liberace's famous homes, known to insiders as the 'Las Vegas Villa.' Why does Sin City sit idly by as ...

UK Bank Profit May Slump on 'Devastating' Rules, Analyst Says

BusinessWeek - Andrew MacAskill - ‎17 hours ago‎

“The profitability impact is devastating for a lot of the banks,” JPMorgan analyst Carla Antunes da Silva said at a banking conference in Milan today. .

Nickle here: "Devastating" means bankers don't make as much.

A Bank Rally? Yes – But Here's Why

CNBC

Nothing matters more for the banks than a peak in these write-offs, Cramer said, whether it's JPMorgan Chase Second, Washington has become less of a factor. ...

Nickle here: Cramer is an idiot and a shill for the banks.

Speculative gambles without any social benefit

Financial Times - Theodore Margellos - ‎15 hours ago‎

"I used derivatives and complex structured products involving both commodities and currencies long before the team at JPMorgan – that “created” the credit default swaps market – graduated from college.
"Both are purely speculative gambles without any social or economic benefit. In a nutshell: yes to short selling in commodities, no to short selling in securities."

Nickle here: Two important points in this article:
1) JP Morgan created the credit default swaps market
2) The credit default swaps market is purely speculative gambles without any social or economic benefit.

J.P. Morgan Selected by Government of Canada for Expanded Derivatives Collateral Management Services

2010-03-10T20:30:00.002-05:00

"Darren Measures, clearance & collateral management sales head for J. P. Morgan, said: "We are very pleased to extend our relationship with the Government of Canada. In a market where credit risk mitigation is the focus of industry attention, J.P. Morgan continues to lead the market in derivatives collateral management outsourcing based on our business knowledge, reputation in derivatives, and collateral management expertise."

Nickle here: I wonder if Canada will go the way of Iceland...

JPMorgan Links and News - March 9, 2010

2010-03-10T02:33:00.004-05:00

J.P. Morgan issues cloudly outlook for solar

MarketWatch - Steve Gelsi - ‎14 hours ago‎

NEW YORK (MarketWatch) -- JP Morgan on Tuesday said the solar power business faces a risk of oversupply in the second half of 2010 and that other segments ...
Solar Stocks Burned by J.P. Morgan: FSLR, ENER, ESLR

JP Morgan: Foreclosure Sales Could Be Higher in Three Years

Wall Street Journal (blog) - Nick Timiraos - ‎13 hours ago‎

Analysts from JP Morgan Chase & Co. are forecasting that bank-owned sales as a share of total home sales will remain at current or even higher levels three ...

Nickle here: Really... this is news?

Bank suits could open floodgates on pay claims

Globe and Mail - ‎8 hours ago‎

Major financial institutions, such as JPMorgan Chase & Co., Morgan Stanley and Merrill Lynch & Co. Inc., have been hit with claims for unpaid overtime. ...

Nickle here: Don't get excited - it's about how JPMorgan shafts its employees too.

JP Morgan urges investors to be cautious

Money News - ‎13 hours ago‎

Mike Parsons, head of UK retail sales at the organisation, said that while screening for performance was not the best option, thorough research should be ..

Nickle here: I almost spit up my milk when I read the title of this news item.

Regulators tell US banks to hold funds

Financial Times - Justin Baer, Francesco Guerrera - ‎8 hours ago‎

Some investors in financial stocks argue that winners of the credit crisis, such as JPMorgan Chase and Goldman Sachs, have profitable businesses and strong strong balance sheets and should consider raising dividends or buying back stocks.

Nickle here: I expect the bailouts and no haircuts on AIG settlements helped...

JP Morgan Chase expanding as the US collapses

2010-03-09T11:13:00.005-05:00

"LOS ANGELES — JPMorgan Chase & Co. will open 13 new Chase bank branches in Stater Bros. Markets stores in California.

The expansion gives Chase more than 730 branches in the state. The company has converted many of the standalone branches it acquired when it purchased Washington Mutual in 2008.

Chase said the new branches are part of its strategy to penetrate the California market."

Nickle here: Like a parasite, as the diseased body of the US weakens and dies, JPMorgan grows.

Wikipedia state: "Parasitism is a type of symbiotic relationship between organisms of different species where one organism, the parasite, benefits at the expense of the host." No truer words have been said.

JPMorgan would be considered an "endoparasite", a parasite that lives inside the host. Our political leaders would be considered an "epiparasite" which are parasites that feed on another parasite as our political leaders feed off of JPMorgan and the other banks.

Wikipedia states: "Parasites evolve in response to defense mechanisms of their hosts." We can see this even now as JPMorgan et al. push for legislation on things such as Healthcare (fondly referred to as Obamacare) and Cap & Trade. Both are highly unpopular but the Democrats are continuing to push forward with them.

I find this paragraph to be interest.. "Host defenses also evolve in response to attacks by parasites. Theoretically, parasites may have an advantage in this evolutionary arms race because of their more rapid generation time. Hosts reproduce less quickly than parasites, and therefore have fewer chances to adapt than their parasites do over a given span of time." We can see this in US citizen's creation of the "Tea Party" and then Obama's creation of the "Coffee Party".

Up until now we had a "long-term coevolution" and it appeared to be a relatively stable relationship. The Fed existed silently in the background not drawing attention to itself and JPMorgan as one of the banks who ran the Fed made sure to keep it that way. This is also referred to as "co-speciation" where the evolution of the host is tied in to the evolution of the parasite.

Yet lately it appears that this parasite has become a Parasitoids - an "organisms whose larval development occurs within another organism's body, resulting in the death of the host". There is no doubt anymore tha JPMorgan and the other banks are slowly killing their US "host". The FDIC is bankrupt, commercial mortgages are coming due and the Fed is trying to keep secret it's history of market manipulation and money printing.

Lastly, I want you to consider this statement from Wikipedia: "Although parasites are often omitted in depictions of food webs, they usually occupy the top position."

JPMorgan Links and News - March 8, 2010

2010-03-08T13:55:00.005-05:00

JPMorgan Tops List of Hedge Funds, Pensions & Investments Says

BusinessWeek - Saijel Kishan - ‎33 minutes ago‎

March 8 (Bloomberg) -- JPMorgan Chase & Co., the New York- based bank run by Jamie Dimon, is the world's biggest hedge-fund firm by assets, ...

JP Morgan Chase Homeowners Say More Permanent Modifications Need To Be Made

Red, White, and Blue Press (blog) - Randell Jenkins - ‎5 hours ago‎

JP Morgan Chase homeowners looking for a home loan modification are saying that more needs to be done to make mortgage modifications ...

JPMorgan Says Buy Greek Bonds After Austerity Package, Debt Sale

BusinessWeek - Paul Dobson - ‎5 hours ago‎

March 8 (Bloomberg) -- JPMorgan Chase & Co. recommended buying five-year Greek government bonds and selling equivalent- maturity German ...

Home Mortgage Loan Rates – Citigroup and JP Morgan Chase Continue Low Interest ...

Subprime Blogger (blog) - ‎3 hours ago‎

Both Citigroup and JP Morgan continue to offer low interest rates but that could change in the very near future. Jamie Dimon, the CEO of JP Morgan, ...

Why Does JPMorgan Trade at Book Value?

2010-03-08T12:41:00.005-05:00

"The chief executive of JPMorgan Chase runs one of the only major banks in the United States that did not post a quarterly loss during the crash.

"For JPMorgan to trade at book value appears overly harsh, Breakingview concedes. But , the publication says, the three-year rough ride in the banking sector — and investment banking in particular — is keeping investors cautious. Having a good crisis, it seems, just isn’t good enough."

Nickle here: This news item is hilarious. The title asks why JPMorgan trades at book value and the first paragraph touts that it is the only major bank that did not post a quarterly loss during the crash... geeeeee I wonder how these two statements related to each other...

Goldman Sachs The Harlot, JPMorgan The Monster

2010-03-08T00:29:00.000-05:00

Note: This article is being published here and in our sister site - GoldmanSachs666.com (Image via Vikipeda)
.
As I search and read news and other blogs for information to post here, I often come across other blogs that point to stories about Goldman Sachs and others involved in the banking cartel leading our country - no, our people - to economic servitude. It has been the intent of this blog along with our sister publications, JPMorgan666.com and BarackObama666.com, to expose what is truly happening and how these Too Big To Fail corporations are changing this Republic, taking control and ruling without having to campaign or run in any government election.
This post simultaneoously published here and in GoldmanSachs666.com.

The following post comes to us courtesy of a blog called, "Banking Horror Stories" who was forwareded the article called, JPMorgan Responsible for the Destruction of U.S. Financial System published in The Market Oracle, a UK financial publication. It was the author of this post who I take the title of this blog from.

It is always interesting to see and hear from those overseas. They have a totally different prospective, have access to more news that is not sanitized as are most stories in the U.S. To see the passion and thoughts of those not having to live in this hell we are living in, is also interesting. It is perhaps easier for someone outside to see more of the truth and reality

The piece is rather long but is worth the read..

The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner.

The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings. The ugliest hidden activity for the JPMorgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funneled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the USGovt, given the privilege of insider trading in unspeakable proportions.

.Read the full story...click here

You might also want to visit "Banking Horror Stories".

JPMorgan: the blind leading the blind

2010-03-06T02:32:00.005-05:00

Snow job: Estimates of weather's impact miss mark

The Associated Press - Christopher S. Rugaber - ‎8 hours ago‎ - Economists at JPMorgan Chase & Co. went with 100,000. The Labor Department won't quantify the impact of the storms. But most economists agree it was less ...

Nickle here: Odd that somehow somewhere someone thought 100,000 jobs would lost due to a snow storm... oh... talking about snow jobs...

Asset bubbles in China not out of control, says JP Morgan

"There are some bubbles in China, but I don’t think they are out of control. We are hearing a lot of concerns about the property sector and asset markets getting out of hand. However, I don’t think things on that ground, are so bad."

Nickle here: Really... asset and property sector aren't out of hand in China... really? No bubbles out of control... what about Ordos (the empty city)? China's empty city, built for no reason other than to maintain an 8% growth rate!

"Not long ago, residents of Ordos, an area in the Chinese region of Inner Mongolia, lived in elaborate tents called yurts. Now, with a population of 1.5 million, many live in homes that would make New Yorkers jealous."

JPMorgan Links and News - March 5, 2010

2010-03-05T13:29:00.003-05:00

JPMorgan: Where your business is our business and our business is none of your business...

ALL BUSINESS: Banks expand small-business loans

The Associated Press - Rachel Beck - ‎2 hours ago‎

JPMorgan Chase & Co.'s new ad campaign publicizes the bank's plans to lend $10 billion to small businesses this year. Other banks, including Wells Fargo ...

JP Morgan Appointed Depositary Bank by IFM Investments Ltd.

WebWire (press release) - ‎3 hours ago‎

Hong Kong - JP Morgan announced today that it has been appointed depositary bank by IFM Investments Ltd. in connection with its recent initial public ...

Stroer Said to Hire JPMorgan, Morgan Stanley for IPO

BusinessWeek - Aaron Kirchfeld - ‎Mar 4, 2010‎

March 4 (Bloomberg) -- Stroer Group hired JPMorgan Chase & Co. and Morgan Stanley to prepare an initial public offering by the German ...

JP Morgan representative joins AccessBank's Supervisory Board

Trend News Agency - ‎7 hours ago‎

JP Morgan Emerging Market Director Victoria Miles joins AccessBank's Supervisory Board, the Bank said today. Ms Miles is also head of strategy for Central ...

Lehman Examiner's Report Should Be Published, Investors Say

BusinessWeek - Linda Sandler - ‎13 hours ago‎

JPMorgan and Barclays have said they waived confidentiality. “The presumption in favor of public disclosure is not affected by the court's power under ...

JPMorgan can't get a break

2010-03-05T13:06:00.008-05:00

Tribune Co. Slams Banks With Lawsuit, Claims They Let Them Go Bankrupt

"The banks knew that the buyout “would render Tribune insolvent and, ultimately, drive it into bankruptcy,” according to the attorneys' written complaint.

"Because the bondholders’ debt is lower ranking than the bank loans, they may get nothing unless a judge rules that the leveraged buyout was a fraudulent transfer and rearranges the payment priority of the creditors."

Fannie Mae and Freddie Mac may force lenders to buy back $21 billion of home loans

"Fannie Mae and Freddie Mac may force lenders including Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages. U.S. banks could suffer losses of $7 billion this year when those loans are returned and get marked down to their true value, according to estimates by Oppenheimer & Co. analyst Chris Kotowski. Fannie Mae and Freddie Mac, both controlled by the U.S. government, stuck the four biggest U.S. banks with losses of about $5 billion on buybacks in 2009, according to company filings made in the past two weeks. -Bloomberg"

JPMorgan and WaMu fight over carcus

2010-03-05T02:59:00.004-05:00

"Washington Mutual entered bankruptcy in September 2008 when federal regulators seized its banking operations and sold them to JPMorgan. Lawyers for Washington Mutual say the $4 billion represented deposits made by the parent company of the failed thrift and should be used to repay creditors, the Journal says.

"JPMorgan argues that it owns the disputed $4 billion, which it views as a capital contribution to Washington Mutual's banking operations from its holding company.

"Washington Mutual and JPMorgan also are arguing over ownership of trust-preferred securities valued at $4 billion, federal tax refunds valued at $5.6 billion, a pension fund for thousands of employees and rights to the Washington Mutual name, according to the Journal."

Nickle here: If only the US government cared as much about the US taxpayer as JPMorgan cares about that $4 billion.

JPMorgan Links and News - March 4, 2010

2010-03-04T17:19:00.006-05:00

WaMu, JPMorgan, FDIC Negotiate Control of $4 Billion

BusinessWeek - Steven Church - ‎3 hours ago‎

The money is being held by JPMorgan because it bought Washington Mutual's bank for $1.9 billion. WaMu, as Washington Mutual is known, says it owns the money ...

JPMorgan Tops Stock Fees as Brazil Bank IPO Raises $8 Billion

BusinessWeek - Michael Tsang - ‎8 hours ago‎

JPMorgan Chase & Co. is No. 1 in fees received from underwriting equity and equity-linked offerings, according to Bloomberg Markets' annual ranking of .

Stroer Said to Hire JPMorgan, Morgan Stanley for IPO

BusinessWeek - Aaron Kirchfeld - ‎7 hours ago‎

March 4 (Bloomberg) -- Stroer Group hired JPMorgan Chase & Co. and Morgan Stanley to prepare an initial public offering by the German ...

JPMorgan Leads in Year Bankers Make Money on Each Other

BloggingStocks (blog) - Tom Johansmeyer - ‎5 hours ago‎

The top investment bank in the business last year was JP Morgan Chase (JPM). Its $4.97 billion represented a 16% increase from 2008, when JP Morgan Chase ..

Canada Dollar Fluctuates as Ivey Index Rises Less Than Forecast

BusinessWeek - Inyoung Hwang - ‎5 hours ago‎

Any gains in the US dollar against its Canadian counterpart are likely to be short-lived, according to JPMorgan Chase & Co. “A reversal is unlikely,” said ...

JPMorgan continues to bite the hand that feeds it

2010-03-04T10:30:00.002-05:00

Tiz but a scratch....

"For the biggest banks, 2009 was a year of humility. In the U.S., top executives and millionaire traders were denounced by the Obama administration, Congress and the media for refusing to give up their bonuses.

"Goldman spent 2009 defending its role in the 2008 bailout of insurance giant American International Group Inc. The Federal Reserve Bank of New York and its former head, Treasury Secretary Timothy F. Geithner, are being called on to answer questions by Neil Barofsky, special inspector general for the Troubled Asset Relief Program, for ordering that Goldman and other banks be paid 100 percent of what they were owed on credit-default swaps they bought from AIG and then concealing the names of the recipients."

"Total investment-banking fees for all firms rose 13 percent in 2009, to $59.8 billion from $53.1 billion, still well shy of the record $86.9 billion reached in 2007, according to data compiled by Bloomberg Markets for its sixth annual ranking of the best-paid investment banks.

"The world’s No. 1 investment bank in 2009 was JPMorgan Chase & Co., which took in $4.97 billion, a 16 percent increase over 2008, when it was also the leader."

Nickle here: It's only a little ironic that the year JPMorgan was bailed out they were reporting a significant rise in fees and profits. It's easy to make a profit when your only concern is short term results but how can a person complain when that is how the US government runs the country.

JP Morgan is full of "clowns"

2010-03-03T22:37:00.005-05:00

"When I was a child, I used to be entertained by the antics of a television clown: “J.P. Patches”. As an adult, some things have changed, and some remain the same. While I still get entertained by clowns, these ones wear suits, and instead of going by the name “J.P. Patches”, they use the brand-name “JP Morgan”.

"The latest antics from the JP Morgan “clowns” are to produce silly and absurd predictions about the U.S. job market. It began last year (see “Wall Street Invents NEW Jobs Propaganda”). In that piece, I pointed out how the U.S. propaganda-machine (led by JP Morgan) was inventing an entirely new propaganda-stream. The goal was to pretend that the U.S. economy was “creating jobs” despite job-loss parameters which makes this theoretically impossible.

"To be specific, JP Morgan's propagandists are trying to get market sheep to swallow the lie that the U.S. economy can generate net job-growth at the same time that the economy is producing roughly a million more lay-offs (every month) than the previous break-even point for this economy."

Nickle here: I can't argue with the author of this article. The only people doing a worse job at selling this economy is the US government. I don't remember JP Patches but I do remember Pennywise...

JPMorgan Links and News - March 3, 2010

2010-03-03T22:29:00.003-05:00

JPMorgan lures $2.2 mln Smith Barney adviser

Reuters - Helen Kearney, Gerald E. McCormick - ‎12 hours ago‎

NEW YORK, March 3 (Reuters) - JP Morgan Securities, the brokerage unit formerly known as Bear Stearns Private Client Services, on Wednesday said it poached ...

CORRECT: JP Morgan Private Bank Makes Two Trust-Unit Hires

Wall Street Journal - Thomas Coyle - ‎6 hours ago‎

JP Morgan Private Bank has filled two new positions in its trust division. John Powers, who had been responsible for ...

Kangaroo bonds find favour with JPMorgan Chase

The Australian - ‎14 hours ago‎

JPMORGAN Chase plans to be the first Wall Street firm to sell kangaroo bonds in Australia since the collapse of Lehman Brothers Holdings. ...

Ray of Light: JP Morgan's Kasman Sees 'Meaningful Job Growth' This Spring

BloggingStocks (blog) - Joseph Lazzaro - ‎5 hours ago‎

The US economy will register "meaningful job growth in the private sector" over the next few months, Bruce Kasman, JP Morgan Chase's chief economist ...

Former JPMorgan Chase (NYSE:JPM) Partner Malcom Calvert Battling Insider ...

American Banking News - ‎8 hours ago‎

The battle by Malcolm Calvert over charges he was involved with insider trading at the Cazenove unit of JPMorgan Chase (NYSE:JPM) continues in London, ...

JPMorgan climbs to fourth position in commodities business

2010-03-03T18:08:00.002-05:00

Odd pose for people asking for a handout.

"Mr Staley, 43, will relocate from Houston to London next month to head the bank’s new effort to fight for a slot in the commodities business, traditionally dominated by Goldman Sachs, Morgan Stanley and Barclays Capital. JPMorgan has climbed to the fourth position after its string of acquisitions."

Nickle here: Notice the top firms in the commodities business are all firms that received bailouts...

JPMorgan from the Archives - Bribes in Alabama

2010-03-03T11:35:00.006-05:00

Image via Wikipedia

"Such is the system we have today. Banks are considered an economic force in their own right - not because they add something to GDP (they're incapable of doing so) but because they are able to control the rise, fall, birth and death of others. The financial intermediation function has become an end in of itself, instead of being a necessary piece of "lubrication" for commerce to proceed. This in turn has led to ridiculous and even outrageous acts, such as the SEC Complaint alleges occurred in Jefferson County, Alabama:

Charles LeCroy and Douglas MacFaddin, the two former managing directors, privately agreed with certain County commissioners to pay more than $8.2 million in 2002 and 2003 to close friends of the commissioners who either owned or worked at local broker-dealers.

3. Although labeled as payments for work on the transactions, their true purpose was to ensure that County officials selected the broker-dealer, J.P. Morgan Securities Inc., as County bond underwriter, and the bank, JPMorgan Chase Bank, N.A., as County swap provider.

The common word for what is alleged, my friends, is bribe."

JPMorgan pulls a Soros!!

2010-03-02T22:33:00.006-05:00

Ceo of Wells Fargo tells another fish story

"One can make the argument that with recent revelations that Wells Fargo is allegedly overtly cooking its books, at least as pertains to the "value" and benefit of its MSR hedges, the bank's Tier 1 should have a materially higher threshold than 3.0%. But we'll let that slide for the time being.

"As we have exposed on many occasions in the past, one of the key fudgings that occurs in the financials' books is the major discrepancy between a bank's designated carrying amount of assets (loans) and their estimated fair value, which all financials are now required to disclose. As the chart below demonstrates, between 2008 and 2009 Wells Fargo, unlike its peers JPM and BofA, has seen this delta increase substantially, from $14.2 billion to $26.4 billion. In essence, the firm acknowledges that the fair value of its loans is $26.4 lower than where it marks them for bookkeeping purposes. Obviously, the implication is that this adjustment amount should also be used in determining the true Tier 1 equity value. So adjustment number 1 - Fair Value to Carrying Amount Delta of ($26.40 billion."

Nickle here: Just earlier today, JPMorgan was advising people to invest in Wells Fargo!!

JPMorgan pulls a Soros.

JPMorgan speculates that FDIC will soon decrease backing of accounts

2010-03-02T22:05:00.005-05:00

"The idea in all of this is the Federal Deposit Insurance Corp. will sometime soon decrease its backing of accounts which don't bear interest at these banks, and that would place Wells Fargo in a superior position, generating the call to use the spread to benefit from it.

"With Wells Fargo emerging fairly strongly from the probable worst part of the great recession, they would be at a competitive advantage once some of the support is dropped out of the system for these types of accounts."

Nickle here: Following up Citibanks warning that they can put a 7 day hold on any withdrawal, JPMorgan states that the FDIC will "sometime soon decrease its backing of accounts".

Have you heard about the Move Your Money campaign?

JPMorgan enters metal warehousing business

2010-03-02T20:34:00.007-05:00

"As piles of base metals from aluminium to nickel build up due to poor demand, Goldman Sachs and JPMorgan have entered the little known but very profitable business of metal warehousing. The deals reflect banks’ appetite for exposure to physical commodities beyond traditional commodities derivatives.

"Stockpiles at London Metal Exchange’s registered depots surge to an all-time high of 6m tonnes – up from 1m in 2007. Traders and bankers say warehousing is a classic “anti-cyclical” business as it flourishes when demand for metals is lacklustre and stockpiles mount."

Nickle here: What's a good hedge against inflation? Hard assets. I would be curious as to who owns these hard assets that JP Morgan and Goldman Sachs are storing.

JP MORGAN: THE FISCAL THREAT IS OVERBLOWN

2010-03-01T22:50:00.011-05:00

"JP Morgan is shifting back to a fully bullish posture here. Three weeks ago they shifted to a more cautious position (see here), but have removed the hedges as equity fund flows begin to support the market and fears of fiscal tightening, regulation, and sovereign debt appear overblown.

"Based on this change in outlook they are moving back into the recovery trade. They are now net long equities, credit, commodities with a long dollar hedge and a short bond position:"

Nickle here: This reflects the income inequality that exists in the US. Out of 17 "peer" countries, the US ranks 17th (the worst) in income inequality. After the bailouts, JP Morgan's perspective on the great recession became a little more bullish.

For those of you who consider the concept of income equality as socialism, The Conference Board of Canada states: " Concern over growing income gaps within and among countries is related to the idea that income inequality diminishes growth potential. It does this by undermining social cohesion, leading to increased social unrest and social conflict. However, as noted in a recent study on income inequality by the OECD, “A society in which income was distributed perfectly equally would not be a desirable place either. People who work harder, or are more talented than others, should have more income. What matters, in fact, is equality of opportunity, not equality of outcomes.”⁷

"Still, a study by Michael Förster for the OECD highlights new research that shows a society should be concerned about income inequality: “A number of authors provide evidence that a poor distribution of income might ultimately negatively affect economic growth, through the channels of education, access to capital markets, as well as political and economic mechanisms.”^8"

HAPPY NEW YEAR from JPMorgan666.com

2009-12-31T18:25:00.000-05:00

Image via Wikipedia

So here it is, the end of a very interesting and turbulent year. The stories and hardships of so many were overshadowed by the powerful elite. Bonuses, profits and bailouts seemed to occupy most of the major media and Goldman Sachs took up much of the space.

Now that we are just a few short hours away from the year 2010 many of us wonder what is in store for us. Will the economy begin to recover? Will the millions of unemployed find work? Will the rate of foreclosures decrease? We can only wonder, wait and see.

Will the mega "too big to fail" begin to respond and invest in America with all the record profits they have made? Will our government begin to address the needs of the people?

So many questions which only time can answer. But knowing all of this - or not knowing, as the case maybe - we should all take some time tonight to welcome in the New Year as it can be filled with hope. I see more and more each day, through all of my research, that Americans are beginning to wake up, splintered as they may be. There is emerging a "voice" of the people as we see from the many different sources we post links to every day. Bloggers, like us, as well as some major media are reporting the truth and the facts as they are. This information is shared by many - as we do - which slowly well begin to unify the "voice".

Our system may appear to be broken - and it is - but "we" have the power to fix it. After all, it is still "We The People" who own our flag.

May you all have a Happy, Safe and Prosperous New Year, Oh, you to JPMorgan/Chase

See you all next year. We thank all of you for visiting our site and hope you will continue to do so.

Larry Rubinoff

Editor/Publisher

2009-12-31T14:33:00.000-05:00

Citi's Pandit, JP Morgan's Dimon created worst business: Fortune
Times of India
Money Management, Financial Markets » Blog Archive » JP Morgan and ...
By The Market Oracle
JP Morgan Chase (NYSE: JPM) CEO Jamie Dimon Critical of UK Tax on Executive ...
American Banking News
JPMorgan Chase CEO Jamie Dimon Plays Chicken With U.K. Government ...
Movement to Reinstate Glass-Steagall Would Break up Citigroup (NYSE:C), JP ...
American Banking News

Wishing you all a very Happy, Safe and Prosperous New Year in 2010

JPMorgan News and Links - Deceber 29, 2009

2009-12-29T10:59:00.000-05:00

Tax em and they leave. How about that? They take all they can get from everyone but don't want to give any back. Is a 50% tax on excessive bonuses right? I am not sure that it accomplishes the desired affect of limiting excessive pay that promotes excessive risk but at least it is a message and does inconvenience them. See the various stories below.

AMERICAblog News: JPMorgan CEO phones UK Finance Minister over ...
By Chris in Paris
Tony Blair's 'employer,' JP Morgan, threatens to scrap London HQ ...
By Max Keiser and Stacy Herber
Tax Research UK » JPMorgan London plans in doubt
By Richard Murphy
JP Morgan's London Headquarters in Doubt | Forex News and ...
By Vincent Facchino
JP Morgan Chase reportedly may drop London plans because of UK tax ...
By The Analyst
J.P. Morgan London headquarters plan in doubt: FT
MarketWatch
Will U.K. Bonus Tax Cause J.P. Morgan to Leave London? - Deal ...
By Stephen Grocer
JP Morgan CEO Dimon Tells UK Chancellor of the Excheuquer That 50% Bonus Tax ...
TMCnet
JPMorgan's Dimon Said to Call Darling to Protest U.K.'s 50% Tax on ...
28 (Bloomberg)
JP Morgan may scrap £1.5bn London HQ plan over Labour's attacks on ...
By Economic Knowledge
JP Morgan may scrap £1.5bn London HQ plan over Labour's attacks on ...
By admin
The Truth Serum: JP MORGAN TAKES THE LIMEADE
By TheTruthMa

Perhaps we shold take a lesson from England as this topic has just about capitalized the news and blogs. (shaking fist).."Take that Jamie Dimon"!

In other news, this one is about one of my favorite judges. He understands what the banking system has done to our homeowners and has ruled against many banks in their efforts to forecloso based mostly on their legal right to do so. You see, many foreclosures are not legal as the forclosing bank no longer owns or had never owned the Mortgage Note which is prerequisite in most states in order to initiate the action.

Judge Slams "Fat Cat" JP Morgan's Copy Bill, Disgusted By 25 Cents Per Page
The Business Insider Note: you can see more stories about Judge Schack by visiting TheForeclosureDetonatorFORUM.

JPMorgan News and Links - Deceber 17, 2009

2009-12-17T23:48:00.001-05:00

See Editor's Comments Below:

WaMu Wants Documents From The Fed About Its Talks With JPMorgan ...
By Erin Geiger Smith
Ethics Complaint: JP Morgan involved in Stealing Millions of ...
By Crystal L. Cox
JP Morgan accused of driving down Washington Mutual's share price ...
By Economic Knowledge
JP Morgan accused of driving down Washington Mutual's share price ...
By admin
UK Financial News, Advice and... - http://perspicacious.co.uk/
Is a WaMu-JPMorgan Settlement Possible?
TheStreet.com
JP Morgan accused of driving down Washington Mutual's share price
Telegraph.co.uk
The true story behind the collapse of Washington Mutual
BloggingStocks (blog)
Evening Wrap: Wamu Demands JP Morgan Documents; XTO Execs Waive ...
By Tiernan Ray
J.P. Morgan moving to taxpayer-subsidized Sprint campus | Midwest ...
By Yael T. Abouhalkah
JP Morgan paying $700 million to settle SEC charges
By Beasley Allen
Remember WaMu?
The American Lawyer

JPMorgan Chase and Bank of America Fight the Recession with $7 Million for ...
My Bank Tracker Bank News
Treasury Sells JPMorgan Warrants
Zacks.com
Goldman Sachs, JP Morgan: Who Got the Better Deal on TARP Warrants?
Seeking Alpha (blog)
FDIC sends a big F-U: completely blacked out documents in response ...
By Cory Doctorow
JP Morgan is being investigated as we speak. WaMu's legal team is going through thousands upon thousands of documents in search of proof that JP Morgan colluded with moles at WaMu, violated confidentiality agreements signed with the ...

Editor's Comments:

The news and talk the past few days is about the inference that JPMorgan used insider information in its acquisition of Washington Mutual (WAMU). In a related story from AM Law the following offers a short synopsis;

In the filing, the attorneys for WaMu's estate (a Quinn, Emanuel, Urquhart, Oliver & Hedges team led by Peter Calamari) asked a federal judge to order JPMorgan, the FDIC, and nearly a dozen other parties, including Goldman Sachs and various rating agencies, to turn over internal e-mails and other documents linked to JPMorgan's long dance with WaMu. Washington Mutual and its attorneys argue that JPMorgan essentially used inside information to rig the bidding process for WaMu in its favor and lower the sales price. In one June 2008 e-mail exchange cited in the filing, JPMorgan CEO Jamie Dimon allegedly discouraged a rival bidder (Banco Santader) by claiming WaMu's potential losses were higher than known estimates, the filing states. The filing claims JPMorgan "engaged in sham negotiations" with WaMu to gain confidential information about the bank; "misused and publicly leaked" that information to various parties--including the FDIC and ratings agencies--to secure WaMu's assets "at a 'fire sale' price"; and "misused access to government regulators to acquire confidential information" about the FDIC's plan to place WaMu in receivership before the asset sale, the filing states. (emphasis added)

Could it be that the CEO of such a venerable institution and a man considered to replace Timothy Geithner as Treasury Secretary would do such a thing? Imagine!

I am truly happy to see that some one in the legal profession finally has the guts to stand up against one of our "too big to fail". And even more important is that they are questioning the FDIC, Goldman Sachs and a "number" of Rating Agencies (who we already know gave fraudulent AAA ratings on Mortgage Backed Securities (MBS) issues.

This is a story that we must watch very closely. Not only might it finally disclose fraudulent activities and activities outside the law, it may also open the door to an investigation of how JPMorgan and Mr. Dimon acquired Bear Stearns late on a Sunday evening. You will remember that Dimon required a payment of $55 billion in order to "purchase"(?) Bear Stearns for the total sum of $250 million. In this meeting on a late Sunday evening - when no one in Congress or any of our regulatory agencies were available - our current Secretary of the Treasury Tim Geithner - then President of the NY Federal Reserve Bank helped rush through this deal and payment. The deal was closed as we all woke up Monday morning.

There is no doubt in most American minds that the likes of JPMorgan/Chase and Goldman Sachs operated outside of many laws and regulations. Their greed - as we know now - caused a world wide financial crisis and crippled the American people. Yet, they continue to operate and prosper with the aid of taxpayer money. Companies that should be out of business are the only segment of our economy that is working and profiting.

Those that casued the problem (perhaps intentionally) are able to continue to function above and outside the law while continuing to rape and pillage.

I tip my hat to Quinn, Emanuel, Urquhart, Oliver & Hedges team led by Peter Calamari. There need to be more good people like this in our legal and judicial system.

Read the full article...click here

JPMorgan News and Links - Deceber 15, 2009

2009-12-15T21:21:00.000-05:00

wamu seeks to investigate US regulators, others
The Associated Press
Evening Wrap: Wamu Demands JP Morgan Documents; XTO Execs Waive Some Payout
Barron's (blog)
WaMu filing: JPMorgan had inside info
Puget Sound Business Journal
Fitch Withdraws JP Morgan's Construction Loan Servicer Rating
Benzinga
SEC Report Sheds New Light on Deal for Bear Stearns
Wall Street Journal
FDIC Approves Giving Banks Reprieve From Capital Requirements
Bloomberg
Treasury Sells JPMorgan Warrants – Analyst Blog | Stock Market ...
By Zacks Market Commentaries
JPMorgan Poised to Lead CLO Comeback After Record Loan Rally
Bloomberg

JP Morgan and Goldman Sachs: One of Ten Member Banks of The Federal Reserve

2009-12-06T16:36:00.001-05:00

I speak often of The Rothschild family and very often quote Meyer Rothschild as saying, "Let me control the money of a nation and I care not who makes its laws". It was he who first uttered the words, "New World Order".

I have also believed that The Federal Reserve - a privately owned company - rules our country by virtue of Rothschild's saying quoted above. There was a book written by Eustice Mullins many years ago, The Secrets of the Federal Reserve, in which he exposes the Rothschild's, their connections to JP Morgan, the Bush (as in former Presidents) family, the Rockefeller's and others of our wealthy elite. The book is available to view on line. Simply google The Secrets of the Federal Reserve. If you have difficulty finding it, email me at info@gold666.org and I will happily send you the link.

I recently came across this article, The Sunday Times gains unprecedented access to the world's most powerful, and most secretive, investment bank and felt it important enough to republish here as was reported by Destination Yisra'el. It is eye opening.

Here it is:

I'm doing 'God's work'. Meet Mr Goldman Sachs

Lloyd Blankfein: chairman and CEO
The Sunday Times gains unprecedented access to the world's most powerful, and most secretive, investment bank
Sunday Times Online – “Number 85 Broad Street, a dull, rust-coloured office block in lower Manhattan, doesn’t look like a place to stop and stare, and that’s just the way the people who work there like it. The men and women who arrive in the watery dawn sunshine, dressed in Wall Street black, clutching black briefcases and BlackBerrys, are very, very private. They walk quickly from their black Lincoln town cars to the lobby, past, well, nothing, really. There’s no name plate on the building, no sign on the front desk and the armed policeman stationed outside isn’t saying who works there. There’s a good reason for the secrecy. Number 85 Broad Street, New York, NY 10004, is where the money is. All of it.

It’s the site of the best cash-making machine that global capitalism has ever produced, and, some say, a political force more powerful than governments. The people who work behind the brass-trim glass doors make more money than some countries do. They are the rainmakers’ rainmakers, the biggest swinging dicks in the financial jungle. Their assets total $1 trillion, their annual revenues run into the tens of billions, and their profits are in the billions, which they distribute liberally among themselves. Average pay this recessionary year for the 30,000 staff is expected to be a record $700,000. Top earners will get tens of millions, several hundred thousand times more than a cleaner at the firm. When they have finished getting "filthy rich by 40", as the company saying goes, these alpha dogs don’t put their feet up. They parachute into some of the most senior political posts in the US and beyond, prompting accusations that they "rule the world". Number 85 Broad Street is the home of Goldman Sachs.

The world’s most successful investment bank likes to hide behind the tidal wave of money that it generates and sends crashing over Manhattan, the City of London and most of the world’s other financial capitals. But now the dark knights of banking are being forced, blinking, into the cold light of day. The public, politicians and the press blame bankers’ reckless trading for the credit crunch and, as the most successful bank still standing, Goldman is their prime target. Here, politicians and commentators compete to denounce Goldman in ever more robust terms — "robber barons", "economic vandals", "vulture capitalists". Vince Cable, the Lib Dem Treasury spokesman, contrasts the bank’s recent record results — profits of $3.2 billion in the last quarter alone — and its planned bumper bonus payments with what has happened to ordinary people’s jobs and incomes in 2009.

It’s even worse in the US. There, Rolling Stone magazine ran a story that described Goldman as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money". In his latest documentary, Capitalism: A Love Story, Michael Moore drives up to 85 Broad Street in an armoured Brinks money van, leaps out carrying a sack with a giant dollar sign on it, looks up at the building and yells: "We’re here to get the money back for the American people!"

Goldman’s reputation is suddenly as toxic as the credit default swaps and other inexplicably exotic financial instruments it used to buy with glee. That’s bad for the one thing it values more than anything else: business. Being the prime target for popular and political outrage could put Goldman first in line for draconian new regulation. So it has, reluctantly, decided that the time has come to speak out, to fight its corner. That’s how, on one of those bright autumnal New York mornings when anything seems possible — even an invitation to break bread with the masters of the universe — I find myself walking past the security guard who held up Michael Moore and into the building with no name.

"Aha! You catch us plotting in real time," says Lloyd Blankfein, breaking away from a cabal of senior executives discussing his trip to Washington the previous day. Blankfein, 55, Goldman’s chairman and chief executive, is wearing a grey suit with a jaunty Hermès tie with little red bicycles on it. In his hand, he’s carrying one of those cups of coffee that look bigger than the human stomach. Maybe it’s the caffeine, maybe it’s the tie — a birthday present from his daughter — but he’s in a remarkably jolly mood for a man everyone seems to hate. "It’s like a safari here," he jokes. "You’ve come in to look at the animals."

Blankfein may be Wall Street’s Sun God, but, with the economic outlook stormy, he doesn’t want to advertise it, so the merest hint of a status symbol or — horror! — ostentation is airbrushed out of his life, publicly, at least. Take his office on the 30th floor. The chairs are the same ones that were there when he became CEO three years ago. There are none of the $87,000 handmade rugs or $5,000 wastepaper baskets of Wall Street lore. There’s no sign of irrational exuberance. Only coffee, that arrives cold. It sets just the right tone for the job in hand. The grand wizard of Wall Street is steeling himself for the hardest sell of his life: he’s here to argue for good ol’ capitalism, for investment banks and for Goldman Sachs.

Luckily for him and his firm, he’s a damn good salesman. He starts with a little humility. He understands that "people are pissed off, mad, and bent out of shape" at bankers’ actions. Goldman played its part in the meltdown that almost destroyed the global financial system. It, like most other banks, lent too much money, made its first quarterly loss for more than a decade last year and ended up taking bail-out cash from Washington. "I know I could slit my wrists and people would cheer," he says. But then, he slowly begins to argue the case for modern banking. "We’re very important," he says, abandoning self-flagellation. "We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It’s a virtuous cycle." To drive home his point, he makes a remarkably bold claim. "We have a social purpose."

Social purpose? Those who have lost their jobs or seen their pay slashed thanks to bankers who flogged dodgy mortgages and dreamt up investments so complex not even they understood them, would gladly tell him where to stick his social purpose. But the problem is, Blankfein is a good advertisement for wealth creation. His own. He is no scion of privilege, dispensing plummy-voiced homilies to raw capitalism from his 30th-floor eyrie. Born in a tough neighbourhood in the Bronx, the son of a postal worker and a receptionist, he was the first in his family to go to college and used financial aid to go to Harvard.

Even though he proudly pays himself more in a year than most of us could ever dream of — $68m in 2007 alone, a record for any Wall Street CEO, to add to the more than $500m of Goldman stock he owns — he insists he’s still "a blue-collar guy".

But what about the charge sheet? Bankers brought the world to the brink of bankruptcy and instead of doing the decent thing and jumping out of the nearest window, they turned up cap in hand to governments to hoover up taxpayers’ money to save their skin. Now, just one year on, they are carrying on as if nothing has happened, gambling, and winning, handsomely, with our cash. Goldman’s profits in the second quarter were a record $3.4 billion. Most of the money is being made in trading in bonds, currencies and commodities.

Goldman is coining it again for two reasons. First, global markets are booming — up 50% from the credit-crunch lows, as new money, much of it from governments, has gushed into the financial system. Second, with Lehman Brothers and Bear Stearns off the street, Merrill Lynch a crippled shadow of its former self, and neither Citigroup nor UBS the forces of old, Goldman has a bigger slice of a growing pie. "We didn’t f*** up like the other guys. We’ve still got a balance sheet. So, now we’ve got a bigger and richer pot to piss in," is how one Goldman banker puts it. Small wonder the bank is on course to set aside over $20 billion for salaries and bonuses.

By John Arlidge – Sunday Times OnLine – November 8, 2009

According to the prophets of Israel, “G-d’s work”, will in the long run not come from the banking headquarters of Goldman Sachs, but from the Throne of the Almighty One. Over the millenniums though, there have been those who sought to ascend to the throne of G-d and challenge His sovereign rule. According to BibleSearchers investigative report on the global economic war that began on Rosh Hashanah 2008 sub-titled, “The Federal Reserve in a Global Economic War for World Domination”, we read:

BibleSearchers Reflections - “Power”, “Greed” and “Control” are the three themes that drive the passions of globalists seeking to control the whole earth. These three elements together are a toxic brew that ends up abrogating personal and human rights, plus eradicating any allegiance to the Creator of the Universe. Almost every historian, in every era of human history has documented and verified historically rivals vying for power and position. They plot their strategies to achieve their preconceived opinions of what it will take to bring to them ultimate control. Today, power factions are vying for power today, like they have done in every era of world history. And the God of Israel laughs at them with derision.

Psalms 2:1-6 – “Why do the nations rage, and the people plot (conspire) a vain thing? The kings of the earth set themselves, and the rulers take counsel together, against the Lord and against His Anointed (Messiah), saying, ‘Let us break their bonds in pieces and cast away their cord from us. He who sits in the heavens shall laugh; the Lord shall hold them in derision. Then He shall speak to them in His wrath, and distress them in His deep displeasure: ‘Yet I have set My King on My holy hill of Zion.”

Yet, there is one exception; this is the first time in world history since the days of Nimrod of Old during the Age of the Tower of Babel that a global imperial power is seeking control of every nation, tongue, and people. The wars that are being conducted around the globe are not played out on the military battlefields or with nuclear missiles flying overhead.

These wars are “Ecological Wars” destroying the ecological foundation of human life with genetic altered grains, disappearing bees, dying bats, threats of exotic viruses, massive floods in the farmlands of the Mississippi River, progressive droughts on every continent, massive monsoons, typhoons wiping out hundreds of thousands of rice farmers and destroying the third largest rice producing crop in the world. These wars are also “Economic Wars” that are played out in the boardrooms of the most powerful banks of the world as the economic power of the “International Bankers”, or those in allegiance as the Rothschild World Banking Dynasty is pitted against the European “Blue-Blooded” Royal Bankers.

It is hard to understand all the players, for we only know them in part for they live and exist in the shadows, hating and despising every moment in the “limelight” of public exposure. According to insiders, one of the powerful consortiums that are ruling the world are the European Banks that are ruled and owned by Britain’s Queen Elizabeth, and House of Orange that is ruled by Netherland’s Queen Beatrix. Together they control the largest bank in the world, Switzerland’s UBS, with its banking associates, the United Kingdom’s HSBC (Hong Kong Banking Corporation) and the Netherland’s ING (International Netherland Group). Each of the latter two is ranked in the top ten banks upon this globe.

Yet, in opposition to the global power of the British-Netherlands banking consortium are the Frankfurt Germany and American consortium of banks with the Federal Reserve System vying also for global financial control. These are reputedly controlled by the Rothschild Rockefeller interests who started the American Federal Reserve System back in 1913. The ten member banks of the Federal Reserve System reputedly include six banks in Europe and four banks in New York. Of most interest these banks are located in only seven cities in the world.

· Rothschild Bank of London,
· Warburg Bank of Hamburg,
· Rothschild Bank of Berlin,
· Lehman Brothers of New York,
· Lazard Brothers of Paris,
· Kuhn Loeb Bank of New York,
· Israel Moses Seif Banks of Italy,
· Goldman, Sachs of New York,
· Warburg Bank of Amsterdam,
· Chase Manhattan Bank of New York.

What do all of these banks have in common? They are reputedly owned by the Rothschild Dynasty. Are we witnessing the prophetic Economic One World Order that will arise at the end of days called “Mystery Babylon the Great” with “seven banking heads”? Are the “ten horns” the “rulers” over “ten global trading unions” (European Union, North American Union, Eurasian Union, etc) that will be sitting on “seven mountains” around the world? Are these “seven mountains” the international banking centers of: London, Hamberg, Berlin, Italy, New York, Paris, and Amsterdam?

A POV, JPMorgan, Goldman Sachs and Stolen Trillions.

2009-11-24T17:10:00.005-05:00

In response to Mark DeCambres' recent article "Jamie Dimon seen as good fit for Treasury" in the 11/24 edition of the online "New York Post," blogger Crown_Royal observed:
"Well Goldman-Sachs had their turn to STEAL trillions by placing ex-employees into gov. positions, so why can't JP Morgan? I mean it makes perfect sense. The SAME people who created TRILLIONS in debts for the USA and then stole TRILLIONS more in tax dollars, should def. be trusted to run the US Treasury! The Federal Reserve needs to be shut down, they are bankrupting the USA."

We don't agree completely with Crown_Royal, but he does have an interesting point of view.

Jamie Dimon on TBTF Being Not Too Big to Fail

2009-11-16T00:37:00.001-05:00

Jamie Dimon does the Washington Post and insists that TBTF is alright with him as long as shareholders get taken out in the unwinding process.

This coming from the man whose firm has absorbed the following in recent years: Chemical Banking Corporation, Chase Manhattan Bank, Bank One Corporation, Bear Stearns, and Collegiate Funding Services, Manufacturers Trust Company, Manufacturers Hanover, Hanover Bank, Bank of the Manhattan Company, Chase National Bank of the City of New York, Guaranty Trust Company of New York, City National Bank & Trust Company, Farmers Saving & Trust Company, Banc One Corp., First Chicago (First National Bank of Chicago, First Chicago Corp.,) First Chicago NBD, Washington Mutual, Providian, Great Western Bank, Bank United of Texas.

That's not all, how about those derivatives? (from my July 9th Goldman Sachs' Earnings, the $47 Trillion Reality):

Yes, kids, we've been here before. In case you didn't see the OCC report the first time around, it may be found here. Here's the Cliff Notes version:

The notional value of derivatives held by U.S. commercial banks increased $1.6 trillion in the first quarter, or 1%, to $202.0 trillion, due to the continued migration of investment bank derivatives business into the commercial banking system.
U.S. commercial banks generated record revenues of $9.8 billion trading cash and derivative instruments in the first quarter of 2009, compared to a $9.2 billion loss in the fourth quarter of 2008.
Net current credit exposure decreased 13% to $695 billion.
Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts decreased by 8% during the quarter to $14.6 trillion.

The worst derivatives offenders list looks familiar, now doesn't it? (ahem, can be found on page 23 of the OCC report)

1 JPMORGAN CHASE & CO. $81,108,352,000,000
2 BANK OF AMERICA CORPORATION $77,874,726,000,000
3 GOLDMAN SACHS GROUP, INC. $47,749,124,000,000
4 MORGAN STANLEY $39,125,255,000,000
5 CITIGROUP INC. $31,715,734,000,000

Yeah, so tell me about Too Big to Fail, Jamie? Please.

WaPo:

Our company, J.P. Morgan Chase, employs more than 220,000 people, serves well over 100 million customers, lends hundreds of millions of dollars each day and has operations in nearly 100 countries. And if some unforeseen circumstance should put this firm at risk of collapse, I believe we should be allowed to fail. As Treasury Secretary Timothy Geithner recently put it, "No financial system can operate efficiently if financial institutions and investors assume that government will protect them from the consequences of failure." The term "too big to fail" must be excised from our vocabulary.

But ending the era of "too big to fail" does not mean that we must somehow cap the size of financial-services firms. Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole. Artificially limiting the size of an institution, regardless of the business implications, does not make sense. The goal should be a regulatory system that allows financial institutions to meet the needs of individual and institutional customers while ensuring that even the biggest bank can be allowed to fail in a way that does not put taxpayers or the broader economy at risk.

Read the rest via Jr Deputy Accountant here.

JP Morgan Gets Away With Bribery

2009-11-05T20:48:00.001-05:00

In an adjunt to jrdeputyaccuntant's piece posted earlier today, it needs to be brought out that guilt is guilt regardless of the "bribe" (fine) paid so as not to be called guilty.

WASHINGTON -- JPMorgan Chase & Co. has agreed to a settlement worth more than $700 million over federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.
Source: GATA - Gold Anti-Trust Acton Committee

If this were you or me, we would have been charged under RICO as an ongoing criminal activity - which it is - convicted and spend the next few years handwriting posts to this blog for publication upon our release. This is just another example of the corruption and conspircies that exist between our government and the "too big to fail" institutions using taxpayer money to gleen more profits to line their pockets and continue their suspicious(?) activities.

The Wall Street bank did not admit or deny the SEC allegations in agreeing to pay a $25 million civil fine, a $50 million payment to the county and to forfeit $647 million in termination fees it claims the county owes from the canceled swap agreements.

What is even more astonishing is that the forfeiture of the $647 million comes from another highly questionable transaction made by JP Morgan as reported previously right here. So in reality JP Morgan did not pay $700 million to bribe their way out of this crime as most of that was money they were scamming the county out of to begin with. RICO RICO RICO

The SEC also accused two former managing directors of JPMorgan, Charles LeCroy and Douglas MacFaddin, of securities law violations. The agency is seeking unspecified restitution from them. MacFaddin will contest the charges.

Yes, they could contest. Not the charges but the fact that JP Morgan itself as well as its' top management should also be accused of securities laws violations. Don't securities law violations carry jail terms if convicted? I guess not if you can afford to buy your way out. The new double standard in the application of our laws.

The SEC alleged that JPMorgan, LeCroy and MacFaddin made about $8 million in undisclosed payments to close friends of several Jefferson County commissioners. Starting in July 2002, LeCroy and MacFaddin solicited the county for a $1.4 billion sewer bond deal.

Here is where I get even more confused. LeCroy and MacFadden could not have acted on their own without the knowledge and blessing of higher management - even as high as the CEO. Come on now! This is like believing Madoff got away with his crime for over 20 years without anyone at the SEC, Investment Banks and others in government knowing about it. Somebody had to close a blind eye and that somebody would have been instructed to by someone very high up the political ladder.

JPMorgan failed to disclose any of the unlawful payments or conflicts of interest in the bond offering documents

If something is unlawful then is it not the responsibility of law enforcement to prosecute? Where is our Attorney General of the United States? Don't tell me he has a vision problem as well.

"The transactions were complex but the scheme was simple," SEC Enforcement Director Robert Khuzami said in a statement. "Senior JPMorgan bankers made unlawful payments to win business and earn fees."

How many times do we have to hear the word "unlawful" before it is payed attention to? SEC Enforcement Director, you should be enforcing exactly what you state was "unlawful Payments" by "Senior JP Morgan bankers". Also, how senior were these banksters anyway?

New York-based JPMorgan said in a statement it has since discontinued its municipal swap-exchange business.

OK, I see how it works. All they have to say is "I'm sorry, I didn't mean to do anything wrong so I'll pay you a fine and promise to never do it again". "Here is my get out of jial free card".
But that privilege does not pass down to smaller players in the game. Those without the protection of "too big to fail" which is kind of like a Diplomatic Passport.

The SEC previously charged Birmingham, Ala., mayor Larry Langford and two others for undisclosed payments to Langford related to municipal bond offerings and swap agreement transactions made while he was president of the Jefferson County Commission. On Oct. 28, Langford was found guilty in the related criminal case on 60 counts of bribery, mail fraud, wire fraud and tax evasion.

This is how our criminal injustice system works. The big guys have Diplomatic Immunity while the little guy at the other end of the crime does not. He is convicted of a crime in a criminal case on 60 counts of bribery, mail fraud, wire fraud and tax evasion (tax evasion is always brought into these crimes as a hedge against the law losing on the other charges. A tax evasion charge brought by the IRS is difficult to beat).

However, it take two to be involved in bribery which the statement above says is criminal. The bribor and the bribee. If there was no bribor (JP Morgan) there would be no bribee (the Mayor). How can one side of the crime be punished but the perpetrator of the crime go free and virtually unscathed?

At issue here and within our entire bankster system is the inequality of justice. A two tier system where a law applies and can be used against one but is not used against another allowing them to continue their criminal activity. RICO RICO RICO

I was once quoted in the National Law Journal as saying, "The law is the law for everyone". Yet, it does not and has not been the way it is dispensed. From the Attorneys General down to the lowest level civil court judge, a two tiered system of ruling on law.

Our system of government is failing us - the average person - and is working in favor of the large corporations who have capitalized their profits but socialized their losses. Corporatons with no moral convictions - aided and abetted by our so called elected government - who should be representing the people - as it says in our Constitution. You know that document signed by our Forefathers - the one that was shredded in the previous administration during which time these crimes really flourished.

I believe we are experiencing the rule of what I call a Shadow Government - people behind the scenes making the rules and the laws we live under. A form of Fascist Socialism I fear. Of course this is just my opinion, I could be wrong.

JP Morgan Settles With SEC on Jefferson County Derivatives Case

2009-11-04T18:11:00.003-05:00

Editor's note: The municipality in question is now bankrupt and has not paid its sewer bills in 16 months. Meanwhile, JP Morgan made off with the money and has only a paltry SEC fine to worry about. Sounds like a good deal to me. - JDA

If you look at this from the perspective of JP Morgan, a few million is nothing. Imagine they do this in 50 different counties around the country and only get caught once or twice, that's a paltry $50 million plus some fees they would have never collected from the municipalities they bankrupted anyway. I'd say that's a win for their business model, though perhaps not for our broken and battered financial system. Oh well, who cares as long as JPM is making their money?

There is no liquidity problem until the great wealth transfer runs out of victims, I guess.

WSJ:

J.P. Morgan Securities Inc. and two of its former managing directors on Wednesday settled charges with the U.S. Securities and Exchange Commission for their roles in an unlawful payment scheme that enabled them to win business involving municipal-bond offerings and swap-agreement transactions with Jefferson County, Ala.

J.P. Morgan Securities, a unit of J.P. Morgan Chase & Co., will pay a penalty of $25 million, make a payment of $50 million to Jefferson County, and forfeit more than $647 million in claimed termination fees, the SEC announced.

The settlement comes as the SEC is examining several municipal investment contracts. Jefferson County has faced credit-rating downgrades and possible bankruptcy after its investments in over-the-counter derivatives.

J.P. Morgan said in a statement that the company is pleased to have settled the Jefferson County matter.

"The charges relate principally to municipal derivatives transactions that occurred six and seven years ago," the statement said. "J.P. Morgan has since discontinued that business, and the employees in question are no longer employed by the firm. The settlement does not impair any outstanding Jefferson County bonds and J.P. Morgan continues to work to achieve a responsible restructuring of Jefferson County's financial affairs."

Read the rest of the article via Jr Deputy Accountant here.

Gold: Everyone's Doing It. Even JP Morgan.

2009-10-24T03:26:00.003-04:00

Editor's note: Maybe that headline should read "especially" JP Morgan. Anyway. You can see what they are up to if you're paying attention. - JDA

I don't remember where I first heard about JP Morgan and Goldman Sachs piling into December gold futures and I've tried finding a reference but I can't. Sorry. So I can't point you to that but there is a pending stampede on the Comex and the boys with the largest balls on Wall Street are leading the pack. Hint hint dumbasses.

I can tell you JP Morgan is betting on $1100 an ounce:

This week, gold futures have held above the $1,050 mark, but analysts have cautioned investors not to get too caught up in gold fever. JP Morgan has also forecast gold prices to rise above $1,100 next year, but in a research note earlier this month, the bank's analysts cautioned, "We do remain concerned that gold as an 'inflation trade' is both expensive and premature." Those using gold as a hedge against inflation may want to consider how investing in gold factors into their overall plans if inflation doesn't explode as they fear.

Well who cares? JP Morgan is just trying to make money, right?

The Gold Report continues where we left off with JP Morgan betting on $1100 an ounce and then some:

"Gold has been the overwhelming beneficiary of investment allocations to commodities all year," the former investment bank says, setting price targets of $1,000 an ounce between now and end-Dec., with a rise to $1,100 looking "likely" for early 2010.

Last week saw betting on Gold Futures and options swell by 10% to a 15-month record of 635,000 contracts.

The "net long" position held by hedge funds and other speculative players—meaning the number of bullish bets minus bearish contracts—rose to a fresh record of 259,000.

On the other side of this leveraged, derivative market, the "net short" position held by commercial players such as miners, refineries and bullion banks hit a near record of 304,000 contracts.

You can find the rest at Holy Crap What's Going on With Gold?!

At some point the game is over. Hope you're strapped in for that part.

JPMorgan: When Earnings Might Not Be Earnings

2009-10-20T13:54:00.004-04:00

Muhammad Rafeeq has researched the wonderful piece of fiction known as JPMorgan's most recent quarterly report. It seems that our friendly neighborhood mob run bank somehow had an incredibly profitable quarter yet cash reserves dropped 60%.

Please note that although Rafeeq did a good job sniffing this out, he is still a LOW LIFE, DIRTBAG anti-Semite. I clearly do not support this sort of ape like thinking; however, I link to his site so that those interested may understand how this banking fiasco is leading to the worldwide increase and acceptance of Jew haters like this loser.

The current economic crisis is not one caused by Jews or any established religion. This is a catastrophe created by those whose religion is simply money and power. These greedy individuals are infected with a parasite that knows no limit to how many mansions, beach houses, Mercedes and GulfStreams are enough. They will not hesitate to steal the last pennies from a ninety year old widow and throw her out into the street if it means one more Picasso for their wall.

JPM Miracle or Mirage

Hat tip: Karl Denninger

JP Morgan and Co. seizing control of Washington right before our eyes

2009-10-14T23:23:00.014-04:00

Bill Moyer of PBS brought in Congresswoman Marcy Kaptur of Ohio and former Chief Economist of the IMF, Simon Johnson, and talked at length about the incredible power grab that JP Morgan, Goldman Sachs, Citi and others have been able to achieve in the last 12 months, despite being so close to insolvency when the crisis began.

Congresswoman Marcy Kaptur describes the power grab as a "Financial Cout D'etat" in the Michael Moore film, Capitalism. Some quotes of the Congresswoman from the interview with Bill Moyer

...they (leaders of big financial institutions) have no fear for the government anymore. They have no respect for the President, which I find absolutely extraordinary and shocking...I think they have no not an ounce of gratitude to the American people, who saved them, their jobs, and the way they run the world.

So, I go to this meeting in a fancy hotel, fancy dinner, and everyone (people of Congress) is complimenting him (Jamie Dimon). I mean, it was just like a love fest...

Formef Chief Economist of IMF, Simon Johnson, is equally bleak about the situation in Washington

The crisis for the big banks is substantially over. And it was completely wasted. The Administration refused to break the power of the big banks, when they had the opportunity...And the regulatory reforms they are now pursuing...will turn out to be essentially meaningless.

Great interview to watch. Bill Moyer asks some good questions and we get a nice inside look about the power struggle within Congress that reformers like Congresswoman Kaptur and Congressmen Ron Paul and Alan Grayson are up against when they fight for the cause of the American people, who have largely been swindled for the benefit of Wall Street.

Bill Moyer Interview: Financial Cout D'etat

JPMorgan Guilty Of Causing Housing Bubble

2009-10-14T16:45:00.001-04:00

JP Morgan was one of the first to stand up and blame mortgage brokers for the then called "mortgage meltdown" leading us into the worst financial crisis since the Great Depression - a crisis we should be calling The Great Depression II.

John Carney in his article in Clusterstock titled, JP Morgan Blew It On Housing Bubble, Too he tells the story that is all too well known by all mortgage brokers.

The role played by JP Morgan Chase in inflating the mortgage bubble was
not limited to pushing the worst kind of subprime loans on mortgage
brokers. It was also heavily involved in mortgage securitization and
derided fears of a housing bubble as "excessive."

This morning we pointed to an item by New York Times business writer Joe Nocera demonstrating that JP Morgan was pushing low-doc/no-doc loans on mortgage brokers and reprinted an advertisement from 2005 in which JP Morgan promised mortgages to anyone who could sign there name.
JP Morgan was also heavily involved in the other side of the mortgage mess: manic securitization built on the claim that there was no bubble house prices or home building. In the document we reprint below, JP Morgan derides "excessive concerns about housing bubble." Home equity securities are described as "one of the best value opportunities in the fixed income market." Selling these mortgage backed securities created a huge demand for more mortgages, fueling the housing bubble.

So there it is, almost 2 years too late. But wait! If they were so heavily involved in creating this economic tsunami then why - WHY - did we bail them out. Why did we give them $55 billion to buy(?) or shall I say take Bear Stearns and then even more under TARP? Why? Why? Why?

Bear Stearns was broke and was being accused of a leadership role in the so called "mortgage meltdown" which as we now know led to the GDII. But we did not bail them out, we got JP Morgan to take them over.

In a late Sunday evening meeting between JP Morgan, Treasury Secretary Paulson, The New York Federal Reserve Bank (whose president was none other then Tim Geithner) and Ben Bernanke, a plan was hatched or shall I say concocted.

The Fed (Geithner's NY Fed Bank and Bernanke's Fed) agreed to JP Morgan's condition of The Fed giving them the $55 billion from which they would use $250,000 (that's right - million) to "purchase" (?) bankrupt Bear Stearns.

It is like giving a well known bank robber the top security guard position at a bank.

Bear Stearns was thrown to the wolves I believe as a method of laying of blame, eliminating a competitor on Wall Street and enhancing the assets and value of JP Morgan which I further believe was also in financial straights.

Is it fair to hold the credit analysts at JP Morgan responsible for missing the weakness of the 2005 asset backed deals? The short answer is: yes. After all, the very same bank was promoting no-doc, signature only loans at the very same time. A close look at their own lending practices would have indicated trouble brewing in the mortgage market.

Now JP Morgan shows incredible profits, has the ear of President Obama, still has all of its control on the NY Federal Reserve Bank. This should become a textbook case for all small businesses that fail - How To Succeed In Failure - with a little help from your government.

It would appear to me that there was and still is criminal wrong doing amongst our illustrious "too big to fail" companies and our Federal Government officials both elected and appointed.

The corruption of this nation is greater then that of any nation in the world past and present yet we allow our young men and women to die for our country's effort in selling our so called democratic way of life to other nations.

This could be viewed as a nation building other nations or more effectively our nation building a worldwide criminal enterprise. Organized crime at its utmost.
Read the entire article...click here

JP Morgan Link Day

2009-09-30T00:34:00.003-04:00

JP Morgan Shuffles Executives

Wall Street Journal
By DAVID ENRICH and MATTHIAS RIEKER In a rare shake-up inside one of the nation's strongest banks, JP Morgan Chase & Co. changed the management of its ...
See all stories on this topic

JPMorgan Chase accused of gender bias in lawsuit

Reuters
NEW YORK, Sept 29 (Reuters) - JPMorgan Chase & Co (JPM.N) was sued on Tuesday by the US Equal Employment Opportunity Commission, which accused the bank of ...
See all stories on this topic

JPMorgan Sued By US Over Gender Bias at Ohio Office

Bloomberg

29 (Bloomberg) -- JPMorgan Chase & Co. was sued by the US Equal Employment Opportunity Commission over claims the bank discriminated against women and fired ...

See all stories on this topic

JPMorgan Shuffles Investment Bank Management - DealBook Blog ...

By By DealBook

JPMorgan Chase's investment banking unit announced a series of top management changes on Tuesday, including the departure of Bill Winters, the unit's co-chief executive.

DealBook - http://dealbook.blogs.nytimes.com/

Jamie Dimon Plans His Exit From JP Morgan Chase (JPM)

By John Carney

But Dimon will not run JP Morgan forever. And today he revealed that he is already developing an exit strategy. He appointed Jes Stanley, the current head of JP Morgan's asset management unit, to become head of the investment banking ...

The Business Insider: JP Morgan - http://www.businessinsider.com/jp-morgan

Bill Winters, JPMorgan's Head Of Investment Banking, Will Leave ...

By The Huffington Post News Editors

NEW YORK â€” JPMorgan Chase & Co. said Tuesday it is shuffling the management duties of its investment banking and asset management units. The New York-based bank said Steve Black, 57, will become the executive chairman of the ...

The Full Feed from HuffingtonPost.com - http://www.huffingtonpost.com/raw_feed_index.rdf

J.P. Morgan shuffles top executives - Crain's New York Business

Steve Black, formerly co-chief executive of the company's investment bank, will become executive chairman, and his ex-partner, Bill Winters is leaving the company.

Crain's New York Business - Breaking... - http://www.crainsnewyork.com/

JP Morgan Gives Up Claim On 17th Century Dutch Masterpiece ...

By John Carney

Now we've got JP Morgan Chase being forced to renounce a claim to a famous piece of Dutch artwork that had been collateral for a $50 million loan. A Dutch multimillionaire had used it as loan collateral, which is now overdue and still ...

Investing to Wealth - http://blog.macroaxis.com/

JP Morgan Gives Up Claim On 17th Century Dutch Masterpiece (JPM)

By John Carney

The AFP is now reporting that JP Morgan has confirmed that "the legal dispute ... has been resolved and that all claims raised in the lawsuit have been dismissed with prejudice." Embed Post ...
The Business Insider - http://www.businessinsider.com/apple

Jr Deputy Accountant: JP Morgan Wants Your Art. Oh Wait, No They Don't

By Jr Deputy Accountant

Reijtenbagh is reported in the local media to have used the painting with other works of art as collateral for a 50-million-dollar (38 million euro) loan from JP Morgan in 2006 before selling it to the museum for several million dollars ...

Jr Deputy Accountant - http://www.jrdeputyaccountant.com/
Editor's Note: JrDeputyAccountant is also a contributing volunteer to this site.

JPMorgan's London head slams 'greed' of bankers - The Wall Street ...
By Jack Kelly
By Simon English for the London Evening Standard, September 28, 2009 One of the most senior investment bankers in London has weighed in on the controversy over pay in the industry, attacking City and Wall Street employees as “greedy” ...
The Wall Street Job Report - http://compliancex.typepad.com/thewallstreetjobreport/

JP Morgan's Executive Identifies Problem, But Offers No Solutions

Wall Street Pit (blog)
I witness exactly that in reading the London Evening Standard's, JP Morgan's London Head Slams 'Greed' of Bankers: One of the most senior investment bankers ...
See all stories on this topic

Where has the Bailout Money Gone? Good Billions After Bad | War On ...

By WarOnYou
But other credit-card companies that received federal bailout money, such as Bank of America, J. P. Morgan Chase, and Citibank, would take the same route as Capital One, sharply raising interest rates, cutting off credit to millions of ...
War On You: Breaking Alternative News - http://waronyou.com/

PITTSBURGH FIASCO « www.olympia.gr

By olympiada
Siemens and JPMorgan, the two most corrupt companies on Earth, refuse to name all antivenitist Eurokleptocrats, especially Pasokleptocrats and Neodemokleptorats, the most corrupt politicians on Earth, who got billion-euro-kickbacks, ...
www.olympia.gr - http://olympia.gr/

The Golden Truth: THIS IS WHY WE NEED TO HAVE A THOROUGH AUDIT OF .

By Dave in Denver
Please note, the guy obviously drew a blank when Grayson asked him name just one primary dealer of the Fed - he was able to muster up the most obvious, JP Morgan, since JP Morgan himself founded the Fed. He also was unable to directly ...
The Golden Truth - http://truthingold.blogspot.com/

JP Morgan Chase Supports Terrorism... Financially, That Is

2009-09-20T16:35:00.000-04:00

Editor's note: Is this shocking to anyone? Nah. WC Varones shows us what sort of slimy pig we're dealing with here.

Your tax dollars at work. TARP-sucking leeches Bank of America and Citibank need your tax dollars because they made unsecured credit card loans for tens of thousands of dollars to terrorist suspects who took the cash for unknown purposes and then filed bankruptcy:
Zazi, whose trip from Denver to New York last weekend set off a series of police raids in Queens, filed for bankruptcy in March, court records show.

Between 2005 and 2008, he opened credit card accounts with Bank of America, Chase, Capital One, Discover and Citibank and ran up a debt of more than $50,000.

Read the rest of the article - click here

Coming Soon - WarrenBuffet666.com and HankPaulson666.com

2009-09-20T14:05:00.000-04:00

I put out an email to our www.GoldmanSachs666.com followers this morning, and I thought it was worth sharing with everyone.

Why are we doing this? - Because I care. And after seeing every so outraged over the $165 million in bonsues being paid to AIG executives in 2009, I could not believe no one was talking about the $13 BILLION that Goldman Sachs was dragging out the back door. And that was just the start. We MUST take our country back from Goldman Sachs, their Bankster partners, and our politicians that are owned by the Banksters

So here is the email that went out September 20th, 2009. If you want to get on that mailing list go to www.GoldmanSachs666.com to sign up. It is a different list from this one.

Coming Soon:

www.HankPaulson666.com

www.WarrenBuffet666.com
It's been four months since my heart attack, and even though I recovered physically, within just a few weeks, my cognitive skills have been damaged from either a mini stroke or what they refer to as pump head, where there are bursts of blood clots from the heart lung machine into the brain.

This means I have had to cut out more than half of what I used to do. I no longer write very much and I spend almost no time on our 666 blogs or my Financial Blog. But we do have a few good volunteers.

Unfortunately, we don't have enough volunteers to email out the posts that are being posted daily. So if you are on this mailing list, the only way you will see the posts, is if you visit the website daily or set up an RSS. I would love to be able to get back to emailing out the posts.

HELP - After seeing the millions that turned out for the Tea Parties, I find it hard to believe we can't put together a few dozen solid volunteers, whether it is one hour a week or a day a week. Wake Up America - I've used that line quite a bit in the blogs and articles I was writing. Those three words sum it up. If you really want to sit back and tune into the TV instead of the reality of America falling apart, I guess you don't care about your kids or their kids.

Volunteers - We need a few people to proofread drafts, update blogs and general stuff that can be done whenever you have time. We also need a few volunteers to put out a daily email. It's easy . . . just cut and paste, then hit Send in our Constant Contact email program.

Contributors - If you can write, we would love to have a half a dozen or more people writing. If you can glean articles from newspapers and magazines, we need you to take excerpts and post them on our blogs, giving full credit to the original piece. It's easy and there are no time limits. If you have an hour a week, that's great. If you want to hire a volunteer or contributor, just let me know. We have dozens of college students that could use the extra money, and they would make great writers and volunteers.

Wake Up America - Go ahead and Google - Goldman Sachs, or Goldman Sachs Info, or Goldman Sachs Conspiracy or anything you would like. We now come up on the first page for just about any search you can do on Google. That means millions of people have seen and read our material. But we still only have a handful of volunteers. I can not longer do it, so if you are serious about doing something about the Raping of America by Goldman Sachs, Banksters and Politicians, either volunteer, contribute or donate.

We now have three 666 blogs and want to start a few more:

www.BarackObama666.com - new

www.GoldmanSachs666.com

www.JPMorgan666.com

www.WarrenBuffet666.com - coming soon

www.HankPaulson666.com - coming soon

www.BankofAmerica666.com - coming soon

www.WellsFargo666.com - coming soonSee Below for additional 666 websites we will be adding

Warren Buffet and King Henry - I really wish I had the energy to do both of these right now. There is so much that has gone on with these two bums, that it could easily fill volumes. Do you remember last year when it slipped out that King Henry called Warren Buffet at home on a Sunday afternoon? Did you ever stop to think about the best deals King Henry gave out were to Goldman Sachs, Wells Fargo, American Express and GE . . . all of these are Warren Buffet companies. And there is so much more of this dirty, criminal activity.

Wake Up America - I don't know what else to say. If you can't volunteer, then donate and hire a volunteer. I do not take a penny of any donated funds. In fact, none of these funds even go through me. You will directly hire a volunteer or pay for our email service, websites, etc. It's that easy.
Donations: If you're ready to wake up and do something, here are some ideas and you can pay for any part of the Team Support below whether it is a day or a month. Just email or call me Mike@Morgan7.com (772) 260-5448

1 - Pay for a month of our email service with Constant Contact - $50 a month

2 - Pay for a year of our domain names registered $140

3 - Pay for four hours of Web Designer time for updates and SEO at $200 for each four hour.

4 - Pay for a Hot Links volunteer who will put together related articles and email a links list out once a week. $400 a month for once a week $650 a month for twice a week or $900 a month for three times a week.

5 - Pay for a writer/contributor - $25 for each article that they glean from the media and assemble for our blog publication with an intro.

6 - Pay for editors to read and approve posts and comments. Right now we need one full time person. This would be $250 a week.

There are more needs, but let's see if we get any of those millions that were spending money and time at Tea Parties to help move our information along. Go ahead and Google - Goldman Sachs, and you will see how powerful our website it.

Mike Morgan - (772) 260-5448Mike@Morgan7.com

Additional 666 websites we will be adding to expose the Banksters and their Partners

www.BenBernanke666.com

www.TimGeithner666.com

www.PIMCO666.com

www.MorganStanley666.com

www.LarrySummers666.com

www.AlanGreenspakn666.com

www.BarneyFrank666.com

www.ChrisDodd666.com

Fed Fears Panic if JP Morgan, Goldman Sachs, et al. Deals are Made Public

2009-09-07T11:11:00.000-04:00

Judge Preska Takes on Obama and His Banksters - On August 24th a brave judge in Manhatten ruled against the central bank. Chief U.S. District Judge Loretta Preska ruled that the Federal Reserve must identify the companies in its emergency lending programs crafted by King Henry and Prince KaKa Kashkari, Goldman Sachs' implants. As you know, the Fed has blatantly refused to name names, even though it is our money and this is the United States of America . . . not The Kingdom of Paulson or the Land of Goldman Sachs.

Warren Buffet Joins the Banksters Team - I seriously doubt we will ever see the light of day of where the money went. If we do, you will probably be shocked at how much went directly to Goldman Sachs, JPMorgan, Warren Buffet Related Companies, and then indirectly to and through subsidiaries, affiliations, banking relationships, fees, consulting contracts, clients and an entire cast of Banksters, Gangsters and Pranksters.

Bloomberg News filed suit on November 7th, and it took this long for justice to prevail, on an issue that politicians have been grandstanding about for months.

Sadly, even Bloomberg News will have to give into the pressure of Goldman Sachs, Warren Buffeet, Jeff Immelt, Chris Dodd, Barney Frank and none other than King Obamba.

Wake Up America! What's next?

I'll tell you what's next . . . an appeal, because the government is concerned the details of what King Henry and Prince KaKa Kashkari have done would spark a panic.

Tell me why something as simply as one of our basic rights took 10 months and millions upon millions of dollars in legal fees to resolve? I only have one thing to close with . . .

Wake Up America . . . the Banksters are raping you while you watch Reality TV and stuff your faces with cookies and pizza.

If you're interested in being a contributor to this blog or www.JPMorgan666.com or www.BarackObama666.com or www.GoldmanSachs666.com , email me Mike@Morgan7.com Otherwise, grab another beer and a bag of cheetos, put the TV on John & Kate and Atlanta Housewives and ignore the reality that's going to turn your lives upside down.

www.BarackObama666.com

2009-09-02T19:57:00.001-04:00

I've received many requests to launch a website about Obama. Well, here it is www.BarackObama666.com But for those that know me, I do not have the time to post and operate the site. If you are interested in being a Contributor or part-time Web assistant, please email me Mike@Morgan7.com

We put up a single post with a few You Tube videos in it - www.BarackObama666.com but the links on the site need to be worked on, as we simply mapped over the format from our GoldmanSachs666.com site.

JP Morgan To Lead Lender Group In Take Over of Readers Digest

2009-08-24T18:51:00.001-04:00

Reader’s Digest Files for Bankruptcy Protection as reported in Bloomberg.com

Reader’s Digest Association Inc., publisher of the magazine that claims the largest paid circulation in the U.S. (emphasis added), filed for bankruptcy protection with a plan to reduce $2.2 billion in debt by 75 percent.
Read the Full Article...click here

I understand that if a lender is owed money form a company that it is entitled to recover. If it is secured debt then the bankgruptcy courts favor them. If unsecured then they get what is left after secured creditors are paid. The question here is, how are they or even are they secured and if so how?

For a financial institution under so much scrutiny by the public and should be by the government to take over a media outlet that would allow it to propagandize at will leaves me wondering. There seems to be enouogh propaganda coming out of our government and our financial "too big to fail" institutions to fill up Red Square in Moscow. Do we, the public, really want them to have control over such an influlential publication?

Already too much of our media is controlled by a very few and impartial, unbiased reporting seems to be a thing of the past. Now we can put another nail in the coffin for "fair and balanced" reporting. J.P. Morgan's mentor - Meyer Rothschild - said that the population of a nation must be "dumbed down" and what better way to continue this wave (you see, it has already happened here) then by using a children's publication such as the "Weekly Reader" to do so. Imagine, indoctrinating children through a newspaper and continueing to indoctrinate through adult publications.

Reader's Digest CEO said;

“Our business operations remain solid, with anticipated fiscal 2009 revenue down only by low single digits,” Chief Executive Officer Mary Berner said in today’s statement. She said Aug. 17 in an interview that Reader’s Digest may emerge from bankruptcy in 45 to 90 days."

If the business is so solid then why file for bankgruptcy protection? Then if filed, and so much money owed to lenders, why would the lenders loan even more? And last but not least, how do bankruptcy's get resolved in 45 to 90 days as this one claims it will and as General Motors did?

I don't get it. In most cases the debtor can't even get all its' paperwork together in that amount of time let alone get the plan submitted to the court and get a hearing in that amount of time.

Is there something else going on here that warrants further investigation? I think so. Are the courts being used and manipulated by our quasi governmental "too big to fail", taxpayer unsupported supported corporations? Are these financial demons positioning themselves for more then just profit? Could national control be a motive?

Questions we should be asking and addressing as a nation.

While we, as a nation, are still in the depths of economic disaster, our financial institutions and their over paid executives are thriving. There is something wrong with this picture. Banks using our money to buy up their competition forcing us to them. Banks lending states money under the mask of patriotism and banks continuing to rip off the public and giving nothing back.

It is not only our right to ask these questions and get answers - it is our patriotic obligation to do so. This is our country ruled and governed by the people not just a certain elite few. Rule by an "elite" is no longer a democratic republic.

Wake up America. This is just not a business and economic problem.

Homeowners Suing JP Morgan for HELOC Denials

2009-08-23T17:05:00.000-04:00

Homeowners are suing JP Morgan because they can't tap their equity lines. Apparently no one informed them that there is a "liquidity crisis" (Ben Bernanke). Were they truly informed, they would realize that the banks cannot lend as most are teetering on the edge of insolvency. Besides, the Fed didn't give them a bunch of money so they could lend it out, that would be inflationary. Instead, they just need to appear capitalized long enough for FASB to make up some new rule that fixes things. Duh. No one tip off BIS and we'll be fine.

Anyway.

More lawsuits for JPM:

A new form of lawsuit against mortgage lenders is evolving amid the tight credit environment. Rather than alleging lenders made misleading or predatory loans, consumers are now filing suit over lenders refusing to extend credit.

A Zion, Ill. homeowner, Pascal Majon, is suing JP Morgan Chase (JPM) over alleged fraud to deny homeowners access to funds through their previously approved home equity lines of credit (HELOCs).

Read the rest of the article - click here

Larry Flynt Calls For National Strike - Stop the Banksters

2009-08-22T06:12:00.000-04:00

Some people frown when they hear his name, but Larry Flynt stands for far more than porn. This man stands for free speech more than anything else. And for those of you that don't think he's smart, you've never met the man. He's a genius that will out think and out talk most anyone I know.

I've often written about the Economic Royalists, so it was refreshing to see Mr. Flynt lead off his recent article, with a reference to Economic Royalists. Here are a couple of excerpts from his article and a full link at the bottom.

The American government -- which we once called our government -- has been
taken over by Wall Street, the mega-corporations and the super-rich. They are
the ones who decide our fate. It is this group of powerful elites, the people President Franklin D. Roosevelt called "economic royalists," who choose our elected officials -- indeed, our very form of government. Both Democrats and Republicans dance to the tune of their corporate masters. In America, corporations do not control the government. In America, corporations are the government. (emphasis added)

. . .
And Mr. Flynt includes a reference to Goldman Sachs . . .
. . .

Journalist Matt Taibbi, writing in Rolling Stone, notes that esteemed economist John Kenneth Galbraith laid the 1929 crash at the feet of banking giant Goldman Sachs. Taibbi goes on to say that Goldman Sachs has been behind every other economic downturn as well, including the most recent one. As if that wasn't enough, Goldman Sachs even had a hand in pushing gas prices up to $4 a gallon.

Wake Up America! The stock market is at new highs and you are hearing false promises of National Health Care . . . not to mention you've been loaned your own money to buy new cars and houses that most cannot afford . . . you we will be paying for with exorbitant late fees, interest, service fees, etc. Do you really think the $4,500 Clunker Program and $8,000 Buy A House Program are going to pull us out of this? Think again, it is nothing more than another smoke screen to get your mind off the real problem . . . the raping and plundering of America by the American Banksters - led by the Godfather of them all - Hank Paulson and his boys at Goldman Sachs.

National Strike - Do it America! Mr. Flynt sums it up very well . . .

We all know that the first American Revolution officially began in 1776, with the Declaration of Independence. Less well known is that the single strongest motivating factor for revolution was the colonists' attempt to free themselves from the Bank of England. But how many of you know about the second revolution, referred to by historians as Shays' Rebellion? It took place in 1786-87, and once again the banks were the cause. This time they were putting the screws to America's farmers.

Daniel Shays was a farmer in western Massachusetts. Like many other farmers of the day, he was being driven into bankruptcy by the banks' predatory lending practices. (Sound familiar?) Rallying other farmers to his side, Shays led his rebels in an attack on the courts and the local armory. The rebellion itself failed, but a message had been sent: The bankers (and the politicians who supported them) ultimately backed off. As Thomas Jefferson famously quipped in regard to the insurrection: "A little rebellion now and then is a good thing. The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."

Perhaps it's time to consider that option once again.

I'm calling for a national strike, one designed to close the country down for a day. The intent? Real campaign-finance reform and strong restrictions on lobbying. Because nothing will change until we take corporate money out of politics. Nothing will improve until our politicians are once again answerable to their constituents, not the rich and powerful.

Let's set a date. No one goes to work. No one buys anything. And if that isn't effective -- if the politicians ignore us -- we do it again. And again. And again.

The real war is not between the left and the right. It is between the average American and the ruling class. If we come together on this single issue, everything else will resolve itself. It's time we took back our government from those who would make us their slaves.

Read the full Article in The Huffington Post - Click Here

JP Morgan "Helping" California? Yeah OK

2009-08-20T17:22:00.000-04:00

You have got to be kidding me. No one believes this, right?

Clusterstock:

Although JP Morgan won't say what interest rate it is charging California for its $1.5 billion loan it made to buy back California's IOUs, it seems likely that the rate is very low.

The IOUs had an interest rate of 3.75%, so the JP Morgan loan has to be lower than that.

More importantly, however, JP Morgan's head of municipal finance says that yield is irrelevant to the bank. It sees the loan as part of the bank's "social responsibility." What's more, JP Morgan plans to use the loan as a kind of loss leader to gain more municipal business.

Read the rest of the story - click here

JP Morgan and Goldman Sachs...Gambling High Rollers

2009-08-20T17:00:00.001-04:00

These two firms are the top two largest dealers in Credit Default Swaps CDS). If I am correct in my thinking Credit Default Swaps are what brought down AIG because they could not cover the bets. Yes, cover the bets as many say trading CDS is a form of gambling and some in Congress have even said it is illegal gambling.

Bloomberg.com writes in their article titled;

JPMorgan, Goldman Sachs Lead CDS Dealers in Survey

By Shannon D. Harrington

“This growing dependence on a limited number of counterparties, for better or worse, appears to be a permanent feature of the market and can be traced to the collapse” of market-makers such as Lehman Brothers Holdings Inc. and Bear Stearns Cos., Fitch analysts wrote in the report.

In a report published in June, JPMorgan was the largest trader of credit derivatives among U.S. commercial-bank holding companies, with $7.5 trillion (emphasis added) in gross contracts outstanding at the end of the first quarter, according to the Office of the Comptroller of the Currency. Goldman had the second-most contracts outstanding at $6.6 trillion (emphasis added), Morgan Stanley was third with $6.3 trillion, Bank of America Corp. had $5.6 trillion and Citigroup Inc. had $2.9 trillion, according to the OCC report.

If this type of transaction is so toxic and led to the collapse of so many other firms which led to the multi billion dollar bailouts then why are we still allowing this type of transaction and why are JP and Goldman the leaders of the pack.

Credit is still defaulting which means that these gambling debts will have to be paid off by someone. AIG had over $12 trillion dollars of CDS's and these two firms have a combined total of over $14.1 TRILLION.

Who's money are they betting with and will the taxpayer have to be the backers once again? I would love to go to a casino and place bets with no money - just chips that I created - then have a whole nation to cover my losses. "What a country".

JP and Goldman are the true High Rollers in this casino.
Read The Full Article in Blloomberg.com...click here

JP Morgan Spending Millions on Lobbying

2009-08-20T16:33:00.000-04:00

The headline in Forbes.com sourced from AP reads:

JPMorgan spent nearly $1.8 million lobbying gov't in second quarter

The New York-based bank has reaped benefits to its investment banking business from a shrunken playing field of competitors

JPMorgan also lobbied credit card practices and pricing, mortgage lending and reform, bankruptcy reform, energy reform, patents and taxes in the April-June period.

Besides Congress, the company lobbied the Securities and Exchange Commission, Department of Education, Department of Energy, Department of Commerce, Treasury Department and the White House, according to the report filed July 20 with the House clerk's office.

What are they after...control?
Read The Full Article...click here

JP Morgan Creating A Debtor Nation

2009-08-20T16:25:00.000-04:00

JP Morgan Sets Its Sights On High-Income Consumers With New Chase Sapphire By Chip Brian, SmarTrend Analytics Team of SmartTrend.
Read Full Articld...click here

Not earth shattering news but you have to stop and think. I believe that the comments made by Meyer Rothschild - the creator of the Central Banking system we call The Federal Reserve in this country - is being put into play. He said;
"Let me control the money of a nation and I care not who makes its' laws"

It was Rothschild that put JP Morgan into business. Meyer Rothschild lived in the late 1700's but his sons continued his business after his death. The Rothschild's set up the Bank of New York and put August Bush - George W's grandfather - in charge of it. Through Bush and the Bank of New York, the Rothschild's loaned money to Hitler to finance his war believing that if Hitler did succeed, he would be in debt to him and Rothschild would have a major position in Hitler's world.

The Rothschild familly still has a major presence in England and in France and JP Morgan still has a major say in our Federal Reserve. JP always has a seat on the New York Federal Reserve Bank and it is said that who ever controls the New York Fed controls The Fed. Also remember that Timothy Geithner before becoming Secretary of the Treasury was President of the New York Federal Reserve Bank. Funny how over all these years the same companies continue to circulate through out our political and economic system.

We have experienced the greatest transference of wealth this country has ever seen. Our middle class has been damaged perhaps beyond repair by putting them into debt they can never get out from under.

With credit markets all but closed down for the middle class - average American - their wealth having been transferred out it appears that it is time for JP Morgan/Rothschild to move more wealth out by issueing credit to those that still have money. This will entice them to get deeper in debt as these new cards will have no limits. Once in debt and under water this new class of cardholders will be making payments forever.

Offering this type of credit card in an economic disaster such as we are in is not good business -I believe it is a methodology.

While it may appear on the ooutside that this new class of card holders could be stable, it is being issued to those who make $120,000 or more per year. A class of people very prone to layoffs and job loss. Statistics show that more white collar people have lost their jobs in this downturn then ever before.

Of course, this is just my opinion, I could be wrong.

Goldman Sachs And Others Settle with Regulators

2009-08-18T01:59:00.001-04:00

High Noon Approaching for Cuomo, Charles Schwab

N.Y. AG Cuomo is relentless. Probably the only "freedom fighter" in public office we have today. Bilking money from people for pure profit motives once upon a time in this country was illegal. Maybe it soon will be again.

Sales tactics like those employed by our banking industry were once relegated to back room, smoked filled, blue suede shoe salesmen. Today it is a profession out in the open with sharks dressed in Armani suits whose prestige is predicated on the number of people they can take advantage of. In fact, there must be a college course somewhere for this as these Wall Street Banksters want you to have a college degree. What ever happened to Basket Weaving 101?

In one exchange between a Schwab broker and client that was reviewed by the Journal, a customer says: “You know, I’m not trying to make a ton of money. I just want to play it safe.” The broker responds: “The hardest part of this auction is getting into it. That is the tough part. Getting out is easy as just selling.” But when the market collapsed, Schwab clients were stuck with $787.8 million in auction-rate securities.

From the WSJ Law Blog

Auction-rate securities are long-term debt instruments with attributes of short-term securities because they are resold with new interest rates in periodic auctions. The $330 billion market’s collapse, which came to a head when market makers stopped stepping in as buyers in early 2008, caused investors billions of dollars of losses.

Several large Wall Street firms that had underwriting operations, including Merrill Lynch & Co., Citigroup Inc., J.P. Morgan Chase & Co., UBS AG and Goldman Sachs Group Inc., have settled with regulators, agreeing to buy back more than $60 billion in auction-rate securities from customers.

Read Full Article...click here

This round table of Black Knights would put fear into even King Arthur's legions. In the words of our publisher...WAKE UP AMERICA!

JPMorgan666

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JP Morgan To Lead Lender Group In Take Over of Readers Digest

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I have not been the first to report on this as I have been busy reading all of the other reports on this topic. Pandora's Box has finally been opened.