JPMorgan Chase scandal in the USA

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Maybe JPMorgan Chase, the biggest United States bank, have become involved too much with crooks like Bernie Madoff and Tony Blair …

This video is about the links between the Gaddafi family in Libya and Tony Blair and the royal family in Britain.

Tony Blair used visits to Libya [then still under Colonel Gaddafi] after he left office to lobby for business for the American investment bank JP Morgan, The Daily Telegraph has been told: here. See also here.

Stung by a huge trading loss, JPMorgan Chase will replace three top traders starting Monday, including one of the top women on Wall Street, in an effort to stem the ire that the bank faces from regulators and investors: here.

The economic and political fallout from JPMorgan Chase’s sudden announcement last Thursday night that it lost more than $2 billion from speculative bets on credit derivatives continued to grow on Monday. The biggest US bank announced the forced retirement of Ina Drew, who headed up the bank’s London-based Chief Investment Office, which placed huge bets on the creditworthiness of a collection of US corporations. Other top executives and traders are expected to be sacked or demoted: here.

JPMorgan Chase Chairman Jamie Dimon, the Whale Man and Glass-Steagall: here.

What Did JPMorgan Execs Know and When Did They Know It? Here.

Elizabeth Warren Says JPMorgan Trading Debacle Shows “We Need to Go Back to Boring Banking”. Pat Garofalo, ThinkProgress: “Massachusetts Democratic senate candidate Elizabeth Warren reacted to the news of JPMorgan’s $2 billion trading debacle by calling for the bank’s CEO, Jamie Dimon, to step down from his position as a director of the Federal Reserve Bank of New York’s board. Today, Warren also said that the episode makes the case for a return to ‘boring banking’ – separating investment banking from traditional commercial banking – which was the status quo before the deregulatory zeal of the late 1990s”: here.

US bank profits rose sharply during the first quarter of 2012, according to figures compiled by the Federal Deposit Insurance Corporation: here.

USA: Top CEO Pay Equals 3,489 Years of Work for the Typical Worker: here.