Money Is Not Safe In The Big Banks

Under the Dodd-Frank Act “losses will be assigned to shareholders and unsecured creditors. …as a depositor in a bank, under the law –
YOU ARE an unsecured creditor.”

banker_debt_web“The Leveraged Buyout of America” by , Author, Web of Debt, Public Bank Solution; President, Public Banking Institute

Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts.

They are systematically buying up or gaining control of the essential lifelines of the economy. How have they pulled this off, and where have they gotten the money? Continue reading

Is Jamie Dimon Still the President’s Favorite Bankster?

ROLLING STONE – FEATURE:
Chase, Once Considered “The Good Bank,” Is About to Pay Another Massive Settlement
By POSTED: July 18, 12:20 PM ET

Jamie Dimon Libor SubpeonasDuring the financial crisis, while Dr. Evil-ish Wall Street villains like Goldman and Lehman Brothers were getting all the bad press, pundits continually referred to J.P. Morgan Chase as the “good bank.” The myth of Chase as the finance sector’s one upstanding rock of rectitude reached its zenith in July of 2009 with an embarrassingly hagiographic piece in the New York Times entitled, “In Washington, One Bank Chief Still Holds Sway.” In that one, the paper breathlessly praised Jamie Dimon for emerging from “the disgrace of his industry” to become Barack Obama’s “favorite banker.”

Continue reading

Is Arrogant Bank Celebrity Jamie Dimon Too Big to Cuff?

Cufflinks AdSen. Kaufman on JPMorgan Chase: Private Lawsuit Found Evidence the Feds Didn’t – Huffington Post

“Think of it as the story of two antagonists,” writes Huffington Post’s Richard Eskow. “One of them was an honest senator who came to Washington to fight corruption.

The other is an arrogant banker who’s so sure of his untouchability that he wore “FBI” cuff-links when he made a public appearance last month.”  Eskrow continues in his brilliant exposé:

Continue reading