Fairness demands that we say it again: It may very well be that leadership team at JPMorgan Chase is shocked -- shocked! -- at all this criminality, and may simply lack the basic managerial skills needed to end it.
The American economy today is a house of cards, wherein each added layer of cards at the top increases the pressure on the lower tiers and threatens the stability of the entire structure.
Is this what free enterprise is meant to be? I think not!
Ignoring human rights abuses and coal's uncertain future, big banks line up for piece of world's largest coal miner Co-authored by Ashish Fernandes...
Community and smaller-to-mid-sized regional banks serve a variety of interests. They tend to favor the needs of local and mid-sized businesses or specific socio-economic communities who want a more personalized approach to banking.
Five years after the failure of Lehman Brothers, the mega banks have rebounded, community banks that serve vulnerable niches of American consumers, and which played no role in causing the Financial Crisis, are failing, and non-traditional lenders are expanding.
There are simply too many questions about the ethics of this bank and its CEO to be ignored anymore. At the very least, a major house cleaning should be on the agenda to move forward.
JPMorgan, so accustomed to the profits of their prop trading not to speak of their full court press to dismantle Dodd-Frank, presumes it is being bullied, that, all in all, it is but "a tempest in a teapot" -- which should become their corporate logo.
By the time Congress holds a hearing to wag a finger in an executive's face (right after lauding him), by the time a fringe-dwelling show-trial is launched by the SEC and DOJ, by the time a junior scapegoat is indicted, the damage to investment portfolios will be fully realized. The lesson here is that you are on your own.
Given the excesses of today's banking institutions, Wall Street and the crony capitalism that is swallowing American initiative and the American dream, the following is a clarion call to our governing class to take heed and to answer the call.
Sherry's story follows an all too familiar trajectory and one that any homeowner who's had the misfortune of dealing with nobody's-favorite-mortgage-company, Countrywide Financial, can relate to.
Amazon, PayPal and the other disruptive businesses started by our new Heroic Capitalists were birthed by the ability and willingness of venture firms -- not traditional banks -- to see their vision and invest behind it.
Where these people will go after government is hard to predict, but the odds are pretty high that they will return to their corporate, and highly profitable, roots.
Let's be clear: These arrests are a good thing. Justice demands that anyone, no matter who they are, be made to answer for their deeds. But unless these arrests lead to further action -- action that's decisive and effective -- they won't nearly be enough.
Hello Congress, Federal Reserve, Commodities Futures Trading Commission, Federal Trade Commission, Department of Justice, 1600 Pennsylvania Avenue, is anybody listening? Or do the Big Boys just get to play while we pay and pay!?
Why haven't any bankers gone to jail? What's going on in this country? Here are seven things about Wall Street crime and Washington "justice" you might have wanted to know, but were probably too depressed to ask.