The Phaserl


Perversity of Modern White-Collar Criminal Remedies

from The Daily Bell:

JP Morgan Pays $2 Billion to Avoid Prosecution for Its Involvement In Madoff Ponzi Scheme … Bernie Madoff has said all along that JP Morgan knew about – and knowingly profited from – his Ponzi schemes. So JP Morgan has agreed to pay the government $2 billion to avoid investigation and prosecution. While this may sound like a lot of money, it is spare sofa change for a big bank like JP Morgan. It’s not just the Madoff scheme. As shown below, the big banks – including JP Morgan – are manipulating virtually every market – both in the financial sector and the real economy – and breaking virtually every law on the books. – Washington’s Blog

Dominant Social Theme: JP Morgan has been punished now.

Free-Market Analysis: Washington’s Blog has provided us with an aggressive follow-up to the just-announced JP Morgan settlement with the SEC.

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