Margaret Schaut

One more conservative viewpoint on the world at large.

Archive for jp morgan chase

JP Morgan’s Turn at the Trough


Now that JP Morgan Chase is finding itself in legal fraudclosure problems that are larger than they can handle, Goldman Sachs has stepped down from the throne and instead Daley has substituted, and JP Morgan now has the ears, the agendas and the pocketbooks to get the justice system in tow at the expense of Americans one more time.

About Daley: 

He also played a pivotal role in creating the housing crisis, was on the board of Fannie Mae, opposed financial reform, supported health insurance companies, fought for Pharma interests, lobbied for telecommunications companies and adamantly opposed the Consumer Financial Protection Bureau

But, despite the obvious facts as follows:

There’s a section of my forthcoming book about the rule of law which examines the direct causal line between the vast number of Wall Street officials in key administration positions and the full-scale exemption from accountability which financial elites enjoy even for the most egregious lawbreaking. When you compile all of those appointments in one place, the absolute stranglehold large-scale corporate interests exert over virtually all realms of government policy is quite striking. But it’s nothing more than what the economist Nouriel Roubini meant when he told the makers of the 2010 documentary “Inside Job” that Wall Street has “captured the political system” on “the Democratic and the Republican side” alike, or what Simon Johnson describes as “The Quiet Coup”: “The government seems helpless, or unwilling, to act against” elite business interests.

It has NOTHING TO DO with the current economic crisis!

How poor do Americans need to be before our politicians say ‘enough’! Third world status is too good for us, apparently.

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