Thursday, September 19, 2013

JP MORGAN QUALIFIES FOR R.I.C.O.

GUILTY
Johann Wagener 9-19-13

Racketeer Influenced and Corrupt Organizations Act - law intended to eradicate organized crime by establishing strong sanctions and forfeiture provisions.

JP (JP MORGAN) copped a guilty plea which amounted to one of those "slaps on the wrist" fines while JD (JAIME DIMAN) who is the head of this criminal enterprise didn't even get a mention.

London Whale scandal to cost JP Morgan $920m in penalties

The fine, even though it sounds significant, is chump change when compared to the amount of cash they took in  during just 1 quarter of this year.

JP Morgan has recorded a profit of $6.5bn (£4.3bn) for the second quarter of 2013, up 31% from a year ago.