Tag Archives | JP Morgan Chase

How Wall Street Criminals Have Partnered With The NYPD

bloomberg

Wall Street on Parade on questionable financial institutions teaming with the police to monitor everyone walking the city streets:

Nothing reveals the incestuous, one-percent-mindset that NYC Mayor Michael Bloomberg and Police Commissioner Raymond Kelly have with Wall Street than [a photo showing] an employee of U.S. Attorney General Eric Holder’s number one target for financial fraud investigations, JPMorgan Chase, working inside a high security spy center in Lower Manhattan to — wait for it — help the New York City Police Department catch crooks.

While most law enforcement bodies around the U.S. would instantly weed out serial wrongdoers as job hires, Bloomberg and Kelly have created an art form out of joint policing ventures with Wall Street, operating both a rent-a-cop program with Wall Street as well as pumping at least $150 million of taxpayer money into the Lower Manhattan Security Coordination Center where Wall Street employees sit elbow to elbow with NYPD officers.

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Save Reverend Billy (From JP Morgan & The U.S. Government)

Reverend Billy. Photo: David Shankbone (CC)

Reverend Billy. Photo: David Shankbone (CC)

Every New Yorker’s favorite evangelical preacher, the Reverend Billy Talen (of the Church of Stop Shopping) is facing a year in prison for protesting against JP Morgan’s financing of fossil fuels, reports Democracy Now:

For more than a decade, Reverend Billy, along with his Church of Stop Shopping, has preached fiery sermons against recreational consumerism — and more recently, against climate disaster. You can often find them greeting the crush of shoppers at Macy’s in New York City on Black Friday. That may not be the case this year. That is because in September, Rev. Billy was arrested after staging a 15-minute musical protest at a JPMorgan Chase bank in Manhattan to highlight the bank’s environmental record and the extinction of a Central American golden toad. He now faces a year in prison for misdemeanor charges of riot in the second degree, menacing in the third degree, unlawful assembly and two counts of disorderly conduct.

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SEC Investigating J.P. Morgan For Hiring Chinese Elites’ Children As Possible Form Of Bribery

jpmorganHold a position of global influence? Then there may be a job at J.P. Morgan for your offspring. Via Raw Story:

The United States is investigating JPMorgan over its hiring practices in China, the company confirmed Sunday. The New York Times had earlier reported that the investment bank was under investigation over claims it hired the children of influential Chinese officials to secure business in the country.

The US Securities and Exchange Commission filing confirmed that there had been a request from regulators for “information and documents relating to, among other matters, the firm’s employment of certain former employees in Hong Kong and its business relationships with certain clients.”

The Times had cited one case where the bank hired the son of Tang Shuangning, a former Chinese banking regulator who is now chairman of the state-run China Everbright Group financial conglomerate. JPMorgan secured a succession of sought-after deals from China Everbright after hiring the son, Tang Xiaoning.

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The Silver Manipulation Conspiracy That Never Was

Remember back in 2010 when Alex Jones and Max Keiser were trying to persuade people to wipe out JP Morgan by buying silver? And then in 2011 the New York Times got in on the act, describing a putative conspiracy by JPM and HSBC to manipulate the price of silver. Well nothing much has happened to develop the theory despite the megabank doing its best to blow itself up by allowing the London Whale’s massively rogue trading. Kevin McElroy of ETF Daily News says it was all baloney anyway:

I promised I would stay on top of the “silver manipulation” story – and there’s another wrinkle in this story to share. The Financial Times reported yesterday that the Commodity Futures Trading Commission (CFTC: the federal government’s regulatory body in charge of U.S. commodities trading) will drop its investigation into silver futures manipulation.

Before I get into it, you might recall that the specter of the precious metals conspiracy theory goes back far beyond this latest story, and further back even than the Hunt brothers’ infamous plot to corner the market on silver in the early 1980s – which really happened, by the way.

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JP Morgan Chase Closes Vatican Bank Account

Reports Philip Pullella and Lisa Jucca on Reuters:

JP Morgan Chase is closing the Vatican bank’s account with an Italian branch of the U.S. banking giant because of concerns about a lack of transparency at the Holy See’s financial institution, Italian newspapers reported. The move is a blow to the Vatican’s drive to have its bank included in Europe’s “white list” of states that comply with international standards against tax fraud and money-laundering.

The bank, formally known as the Institute for Works of Religion (IOR), enacted major reforms last year in an attempt to get Europe’s seal of approval and put behind it scandals that have included accusations of money laundering and fraud.

Italy’s leading financial daily Il Sole 24 Ore reported at the weekend that JP Morgan Chase in Milan had told the IOR of the closing of its account in a letter on February 15. The letter said the IOR’s account in Italy’s business capital would gradually be phased out starting on March 16 and closed on March 30.

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JP Morgan Chase Donates $4.6 Million To NYPD On Eve Of Protests

167451-occupy-wall-streetWondering how much it costs to buy off the police department? JP Morgan Chase just gave the New York City Police Foundation the largest donation in its history. How the police show their gratitude will presumably determine whether they receive similar donations from companies in the future. Via Naked Capitalism:

No matter how you look at this development, it does not smell right. From JP Morgan’s website, hat tip Lisa Epstein:

JPMorgan Chase recently donated an unprecedented $4.6 million to the New York City Police Foundation. The gift was the largest in the history of the foundation and will enable the New York City Police Department to strengthen security in the Big Apple. The money will pay for 1,000 new patrol car laptops, as well as security monitoring software in the NYPD’s main data center.

New York City Police Commissioner Raymond Kelly sent CEO and Chairman Jamie Dimon a note expressing “profound gratitude” for the company’s donation.

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And Now: The Homily from Brother Dimon … U.S. Debt Default Would Be A ‘Moral Disaster’

Jamie DimonIt’s 21st May: If you’re reading this, you’re in Hell; welfare Queen JP Morgan Chase’s CEO, Jamie Dimon provides today’s post-rapture homily via the AP/Huffington Post:

It would be a “moral disaster” if the United States were to default on its debts and become unable to pay its obligations, JPMorgan Chase & Co. CEO Jamie Dimon said at an appearance in Colorado Thursday evening.

The U.S. is the financial linchpin of the world, and the economic effects of the U.S. defaulting could be “potentially catastrophic,” he said at a dinner for the University of Colorado Denver Business School.

“It will dwarf Lehman,” Dimon said, referring to the 2008 collapse of the investment bank Lehman Brothers, which contributed to the beginning of a global financial crisis.

Dimon’s comments came in response to a question about the federal deficit from moderator Tom Petrie, a vice chairman of Bank of America Merrill Lynch.

Congress is debating raising the country’s $14.3 trillion borrowing limit.

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Silver Manipulation By JP Morgan And U.S. Fed?

In yesterday's New York Times, William D. Cohan refines what was once a confusing and fringe theory about JP Morgan and HSBC's involvement in silver market manipulation into a very plausible scenario, tying in the cloak and dagger elements of the story with the currently unfolding class action lawsuits in several states. Once again, the Xtranormal.com platform is being put to good use to elucidate exactly what's happening: Each segment has information that I found useful, especially the fact that there is actually no physical silver left in circulation -- nice touch. Part II is here and part III available here. Part IV is here, and after the creators accidentally deleting the original voices, the bear in the overalls is now sounding strangely like John Lennon. Another source of information and a more detailed breakdown on basic market manipulation and arbitrage is available here. The site that appears to be the sponsor/creators of the Xtranormal videos silvergoldsilver.blogspot.com is less clear, but has information as well...
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Can JP Morgan Really Be ‘Crashed’ By Buying Silver?

Max Keiser, financial analyst and host of RT's Keiser Report, and Texas radio host Alex Jones are telling their listeners and fans to buy silver. Ostensibly the reason is to destroy the value of the JP Morgan bank. The cynic in me wonders if Alex and Max have an existing position in silver that they'd like to see increase in value. Anyone have any real insight? According to Keiser, the goal of the “Crash JP Morgan – Buy Silver!” campaign is to force JP Morgan to cover its negative bets...
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Rev. Billy Talen Arrested After Placing ‘Holy Hex’ On JPMorgan Chase on Easter Sunday

Rev. Billy Hexes JPMorgan Chase

Rev. Billy & the Mountaintop Gospel Choir bring the mountains back to a Chase bank in the East Village, NYC.

Adam Klasfeld writes on the Courthouse News Service:

The self-ordained Rev. Billy Talen was arrested on Easter Sunday after putting a “holy hex” on JPMorgan Chase bank, which he calls the nation’s largest financier of coal-mining mountaintop removal.

The former New York City mayoral candidate and his green-robed chorus put the hex on two bank branches, saying Morgan Chase has helped destroy more than 450 Appalachian mountains, deforested 800 square miles and polluted more than 1,200 miles of streams.

Rev. Billy led his Life After Shopping Gospel Choir to two East Village Chase branches, where the singers “deposited” mounds of “sacred dirt from Coal River Mountain, West Virginia” on the floors of ATM lobbies.

At the branch on St. Marks Place and 2nd Avenue, the choir performed a “mystery channeling of money” as bank customers withdrew money, and the reverend/performance artist preached to a crowd through a white megaphone.

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