If I recall, corporate executives who signed off on knowingly false financial statements were personally liable under the Sarbanes Oxley law. Jamie Dimon signed off on knowingly false financial statements. I always thought that lying under oath before Congress was a crime. Jamie Dimon lied under oath before Congress. There are hundreds of thousands of Americans behind bars for minor drug offenses. Why is a man who committed crimes that resulted in billions of losses still leading one of the biggest banks in the world? Why is he still living in a multi-million dollar luxury home in NYC? Why is he being paid $10 million per year?
Do you think your vote counts? Do you think our legal system is designed to protect you? Do you think the politicians you elected give a fuck about you and your best interests? Did you spend $8 million last year lobbying politicians in Washington DC?
The Complete History Of JPMorgan’s “Monstrous” Derivative Risks And Abuses – The Full Senate Report
Submitted by Tyler Durden on 03/14/2013 17:50 -0400
Curious what according to Jamie Dimon is just a “tempest in a teapot“, or, alternatively, why Mr. Dimon is richer than pretty much all of you, here is the full 307 page report that explains everything, including all the events that transpired at the JPM CIO office, all the trades that led up to the “monstrous” Whale portfolio, leading to an epic prop trade failure, coupled with countless lies and misrepresentations to regulators, to investors, to the public, and to politicians, many of which under oath. Oh yes, free Jamie Dimon!
Finally, we are happy that our small contribution to exposing the catastrophic JPM TBTF prop trading behavior made its way into the report, and specifically footnote 1442.