JPMorgan Chase is the largest federally-insured bank in the United States. It is also one of the largest trading houses on Wall Street. That’s the Faustian bargain the Clinton administration entered into with Wall Street when it repealed the Glass-Steagall Act in 1999.
According to data from the FDIC, as of June 30 of last year, JPMorgan Chase Bank N.A. had 4,925 branches in 44 U.S. states holding $2.01 trillion in deposits. Many of those deposits belong to mom and pop savers who have no idea that the bank has admitted to five criminal felony counts since 2014 and has a rap sheet that is the envy of the Gambino crime family. (Apparently, a federal judge in New York overseeing a current JPMorgan case is just as naïve about the bank’s criminal history. More on that shortly.)
The bulk of Americans also do not know that neither federal regulators nor Congress nor the Board of Directors of JPMorgan Chase have demanded that the Chairman and CEO of JPMorgan Chase, Jamie Dimon, who has sat at the helm of the bank throughout this crime spree, be sacked. Dimon’s tenure has been propped up by a public relations machine and an obsequious mainstream media. (See here and here.)
Corruption of this magnitude can’t be swept under the rug forever, however. Today, three cases are playing out simultaneously in federal courts. Observed together, which no member of mainstream media is currently doing, they paint an undeniable picture of a bank which, as Senator Bernie Sanders would say, has adopted fraud as a profitable business model.