JP Morgan Implicated in More Fraud

[Number Six]

http://dealbook.nytimes.com/2013/05/02/ ... tory-woes/

"Government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers,” and that one of its most senior executives gave “false and misleading statements” under oath.

"The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets."

Plus it looks like Blythe Masters, who has been written about before as one of the leading architects of credit default swaps, is one of the targets of the investigation for at least misleading investigators. Terms like "individually liable" and "systematic cover-up" are pretty scary when those involved see them naming them.

[Judge Roy Bean]

...
"The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets."

Hey you, you've broken the law - now just between us, you shouldn't be doing that.

... Plus it looks like Blythe Masters, who has been written about before as one of the leading architects of credit default swaps, is one of the targets of the investigation for at least misleading investigators. Terms like "individually liable" and "systematic cover-up" are pretty scary when those involved see them naming them.

To the protected class, those terms are pretty much part of doing business.

[Number Six]

The "Morgue" is up to $7 Billion in fines in the last couple of years: http://www.zerohedge.com/news/2013-07-3 ... -two-years