Saturday, December 19, 2015
JPMorgan at it again
See this article. JPM was a key player in outright fraud in the financial crises for knowingly selling the junk bonds that crashed the economy. As this article details, there were several other frauds they had to pay fines on. The most recent is a $307 million fine for selling their own mutual and hedge funds to clients without giving them an option on lower-fee funds available from other vendors. When will Congress get the obvious fact that these big banks are scumbags whose sole intent is to rip off everyone for their own profit and hold them accountable via law? Same goes for the Justice Dept., who only fine them instead of putting those responsible in jail.