The Great Deception -> *** J P Morgan Chase

*** J P Morgan Chase - The Robber Barons, The Morgan " Money Trust "

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jofortruth

Posted: May 15 2009, 11:11 AM

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Did you Know that J P Morgan Chase:

QUOTE

1) Is one of the 2 largest banks in America and part of the Morgan Dynasty� (the other is Citibank)

2) The 2nd largest shareholder in the private Federal Reserve of NY.

3) One of the 2 largest players in the Derivatives scam that has helped bring about the current economic crisis, holding over $57 trillion in 2006.

4) They were defendants in the Enron scandal. They were accused of cooking their books and to avoid judgement, they paid a fine of $300 million to settle the suits. While settlement avoids having to admit liability, evidence in the case clearly showed fraudulent activities. (OUTRAGEOUS THEY WEREN'T FORCED TO ADMIT WRONGDOING AND GOT OFF WITH A PEANUTS FINE)�

5) J. Pierpoint Morgan was one of the Robber Barons who dominated finance in his day (and his kin and their buddies continue doing this today)

6) Early in 20th century, Morgan controlled a Wall Street syndicate called "the greatest financial power in the history of the world." Morgan dominated a hundred corporations with more than $22 billion in assets. His address was 23 Wall Street and known as the "House of Morgan". They later moved to the World Trade Center.

7) Former Federal Reserve Chairman, Alan Greenspan, was a corporate director for J P Morgan before Reagan appointed him to be Fed Chairman for 15 or so years. It is under Greenspan's watch that the regulations were changed and the big banks started engaging in the derivatives scams.

8) Morgan and his rival Rockefeller (citibank) competed for power on the political scene, but they both had the support of powerful British financiers. The sad part is their companies are doing the same today, and are mostly responsible for the economic crises America has experienced and is experiencing today with the worst economic crisis since the Great Depression.

Want to read more about the parasitic JP Morgan Chase Bank and its founders?

"WEB OF DEBT" by Ellen Hodgson Brown, JD
http://z4.invisionfree.com/The_Great_Decep...5993&st=0&#last

jofortruth	Posted: May 15 2009, 11:14 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	Brown - Web of Debt - The Shocking Truth About Our Money System 3e (2007) Publish at Scribd or explore others: Books Non-fiction money debt

jofortruth	Posted: May 15 2009, 11:28 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	IT'S TIME TO STOP THE PARASITE AND PUT THEM INTO RECEIVERSHIP AND STOP THE BAILOUTS THAT THE AMERICAN TAXPAYER ENDS UP PAYING FOR, AFTER THEY PULL THEIR SCAMS!

jofortruth

Posted: May 15 2009, 12:01 PM

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The JPM Derivatives Monster
http://www.gold-eagle.com/gold_digest_01/hamilton091001.html

QUOTE

Out of all the incredible financial developments of the 1990s, one of the most important fundamental structural changes in the nature of the operation and interaction of the global financial system was the literal explosion of the use of derivatives.

Derivatives are often highly complex financial instruments that "derive" their value from some other underlying asset. As the use of these instruments evolved and advanced to a stunning degree in the 1990s, an intriguing bifurcation of opinion on the merits of the hybrid instruments developed. Among the Wall Street power players and aggressive private speculators, derivatives were seen as a wonderful financial innovation that would lead to highly customizable risk management and a huge new profit stream for Wall Street.

Outside of the financial halls of power, however, derivatives began to acquire a reputation of being staggeringly risky financial instruments that could turn sour in a heartbeat and devour the financial wizards who created them like hungry sharks. Like the young sorcerer's apprentice in Walt Disney's classic 1940 masterpiece "Fantasia", a general public perception of derivatives gradually evolved that perceived the growth of derivatives as a dangerous experiment being recklessly played out in the financial world. Like the sorcerer's apprentice dabbling in powerful magic when the master was not around to manage the unleashed forces, derivatives creation was increasingly seen by the average investor as being hazardous attempts to harness enormous financial tides and forces that were simply too big and too complex to be decisively tamed.

A string of massive derivatives debacles in the 1990s helped buttress this negative popular perception of derivatives and provided strong support for the "derivatives are very dangerous" side of the great derivatives debate.

In December 1993 the large German industrial conglomerate Metallgesellschaft AG reported huge derivates related losses racked up by its US subsidiary. Through an intricate hedging strategy involving heavy energy derivatives use that spun out of control, the US subsidiary of the German giant watched in horror as its complex custom-tailored financial instruments exploded in unforeseen market conditions. Total losses were originally estimated at $1b, enough to push Metallgesellschaft, Germany's fourteenth largest industrial corporation, to the brink of bankruptcy. Metallgesellschaft eventually had to cough up $1.9b as a last-ditch rescue package to stave off bankruptcy. What was perhaps the first well-known large derivatives debacle in the 1990s was only a grim taste of things to come.

Unfortunately, the misfortune of Metallgesellschaft in attempting to conquer the brave new derivatives world proved to be only the tip of the iceberg in derivatives disasters of the 1990s. Cargill lost $100m playing with mortgage derivatives, Askin Securities lost $600m dabbling in mortgage-backed securities, US blue-chip Dow 30 company Procter & Gamble lost $157m hedging with currency derivatives, and Codelco Chile obliterated $200m on copper and precious metals futures. We could add Daiwa Bank of Japan, Sumitomo Corporation, Ashanti Goldfields, and the list goes on and on. And these are just a few of the less well-known derivatives debacles!

In 1994 the County Treasurer of one of the wealthiest counties in the United States, Orange County, California, brought the mighty county to its knees in bankruptcy. Robert Citron deployed risky exotic derivatives including reverse repurchase agreements to produce very high returns for the County Investment Pool he managed. Unfortunately, when the markets moved against his huge leveraged positions, the retirement funds under his custodianship quickly hemorrhaged $1.5b. In a hearing before the California State Senate in 1995, Citron said, "I must humbly state I certainly was not as sophisticated a treasurer as I thought I was."

Please go to the link for the complete article:
http://www.gold-eagle.com/gold_digest_01/hamilton091001.html

jofortruth

Posted: May 15 2009, 12:03 PM

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Mortgage Meltdown - Bill Moyers Journal PBS July 18, 2008 - Cleveland's Slavic Village Decimated by the CORRUPT mortgage lenders:
http://www-tc.pbs.org/moyers/rss/media/BMJ-1214.mp3
http://www.pbs.org/moyers/podcast.xml

QUOTE

Highlights:

* Foreclosures average 2 per day.

* Many retirees living on fixed incomes who had their houses paid for, but had to borrow to do repairs.

* Dishonest lenders repeatedly visited these people and coerced them into taking out BAD LOANS with 0% down. Some even got cash back at closing - another enticement. Later, ballooned payments, fees, taxes, etc bankrupt them and sent them into foreclosure.

* This started in the 1990s.

* Renters were also affected because the owners lost their property (many given 30 days to find a new place to live). This sent many to shelters, and forced the splitting up of families even.

* IN 1995, LOCAL OFFICIALS BECAME CONCERNED WHEN THERE WERE 3,300 PRIVATE MORTGAGE FORECLOSURES FILED IN THE COUNTY.

* JIM ROKAKIS, AS EARLY AS 2000 WAS ASKING FOR HELP. IN MARCH 2001 THEY APPROACHED THE CLEVELAND FEDERAL RESERVE AND ASKED THEM TO REIN IN SUBPRIME LENDERS, BUT THE FEDERAL RESERVE DID NOTHING. HE LEARNED A HARD LESSON - THAT THE FEDERAL RESERVE IS THERE TO PROTECT BANKS, NOT CONSUMERS.

* Next, they went to the City Council which took up an ordinance to ban predatory loans. HOWEVER, THAT ENDED WHEN THE STATE GOVERNMENT IN COLUMBUS, RUN BY REPUBLICANS REVERSED THE POLICY AFTER HEAVY PRESSURE FROM SUCH NOBLE PEOPLE AS THE MORTGAGE INDUSTRY LOBBYISTS (REP JOHN HUSTED WAS ONE SPEAKING ON THE FLOOR) (A DISGRACE!)

* Of course, these lobbyists gave a lot of money to the campaigns of those State House and Senate members, so they caved in as usual.

* Afterwards the foreclosed houses sat empty, after being stripped of any things of value (such as copper, steel, etc), and later burned by arsonists. Then they became a haven for druggies which completed the devaluation. This then affected the police departments who had to deal with these crimes. Of course the city then suffered due to lack of taxes from these people. The fallout is unreal!

* The demolition of these homes cost the City over $12 million.

* The City of Cleveland filed a law suit against Deutsche Bank Trust Company and 21 lenders. Deutsche had the largest number of foreclosures at 4,750; Wells Fargo 4,000; Countrywide 1,300 & HSBC 1,300.

* The suit charges that these lenders created the environment of bad loans and that it would not have happened had this not been the case.

* Due to this deceit and the fallout over 90,000 people have been lost in this county the past 7 years. NO COUNTY HAS LOST MORE WITH THE EXCEPTION OF NEW ORLEANS PARISH. One due to a hurricane, one due to outrageous greed and deception.

City of Cleveland v. Deutsche Bank Trust Co (and 21 lenders):
http://dockets.justia.com/docket/court-ohn...case_id-148732/

Defendants:

Deutsche Bank Trust Company
Ameriquest Mortgage Company
Bank of America Corporation
The Bear Stearns Companies
Citigroup, Inc.
Countrywide Financial Corp.
Credit Suisse (USA)
Freemont General Corporation
GMAC-RFC
Goldman Sachs Group
Greenwich Capital Markets, Inc.
HSBC Holdings, PLC
IndyMac Bancorp Inc. (Failed recently and now under Fraud investigation)
J.P. Morgan Chase Co.
Lehman Brothers Holdings, Inc.
Merrill Lynch & Co., Inc.,
Morgan Stanley
Novastar Financial, Inc.
Option One Morgage Corporation
Washington Mutual, Inc.
Wells Fargo & Company

jofortruth	Posted: Feb 1 2010, 07:00 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	JPMorgan vs. Goldman Sachs: Why the Market Was Down 7 Days in a Row: http://www.huffingtonpost.com/ellen-brown/...s_b_441922.html

jofortruth	Posted: Mar 6 2011, 11:26 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	JP Morgan Fighting 10,000 Lawsuits: http://www.thestreet.com/print/story/11026295.html

jofortruth	Posted: Apr 21 2011, 06:37 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	More on their involvement in mortgage scams: http://z4.invisionfree.com/The_Great_Decep...?showtopic=8633

jofortruth	Posted: Jun 24 2011, 11:34 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	JP Morgan pays to settle SECs CDO Probe (Here we go again, they're caught violating the law and get off with a slap on wrist and a fine) http://www.theglobeandmail.com/report-on-b...article2069479/ A fine does nothing to bring these prima donna's to justice! They turn around and keep violating the law! It's just amazing how these big guys are allowed to do whatever they want but are never really held accountable! WHEN WILL THEY BE HELD ACCOUNTABLE, AND SHUT DOWN AND THEIR LOOT TAKEN? NOTHING ELSE WORKS WITH THESE TYPES! THEY ARE REPEAT OFFENDERS AND NOBODY GOES TO JAIL!

jofortruth	Posted: Sep 28 2011, 10:26 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	Looks like JP Morgan was in on the MERS Mortgage Scam: http://z4.invisionfree.com/The_Great_Decep...=0#entry5371185 Who else involved? All of the big bankers, as usual! Citibank Wells Fargo Bank of America

jofortruth	Posted: May 11 2012, 09:49 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	How did JP Morgan Chase Lose $2-billion in Six Weeks? http://www.theglobeandmail.com/report-on-b...mpaign=94935071 http://www.theglobeandmail.com/globe-inves...mpaign=94935071 http://zerohedge.blogspot.ca/2009/01/was-m...asis-trade.html Why hasn't Jamie the punk Dimon been fired? The little boy has zero integrity and is arrogant beyond belief! In fact, JP Morgan Chase should be done away with for having zero integrity and for being part of the reason the economy has collapsed. BREAK UP THE BIG SCAM ARTIST BANKS WHO CREATED THE SCAM OF THE DERIVATIVES THAT BROUGHT THE ECONOMIC SYSTEM DOWN! THESE PUNKS SHOULD BE BEHIND BARS, NOT RUNNING COMPANIES STILL!

jofortruth

Posted: May 12 2012, 10:31 AM

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The $2 Billion Dollar Loss by JP Morgan is Just a Preview of the Coming Collapse of the Derivatives Market:
http://www.prisonplanet.com/the-2-billion-...ves-market.html

QUOTE

Their Chief Investment Office made a series of trades which turned out horribly, and it resulted in a loss of over 2 billion dollars over the past 40 days.� But 2 billion dollars is small potatoes compared to the vast size of the global derivatives market.� It has been estimated that the the notional value of all the derivatives in the world is somewhere between 600 trillion dollars and 1.5 quadrillion dollars.� Nobody really knows the real amount, but when this derivatives bubble finally bursts there is not going to be nearly enough money on the entire planet to fix things.

jofortruth	Posted: May 12 2012, 06:33 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	A MUST LISTEN! Jim Willie - GoldenJackAss TFMR interview - May 11, 2012 http://youtu.be/5x6l5HAg8p4

jofortruth	Posted: May 13 2012, 06:26 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	Glass Steagall Alone won't be Enough to Stop Dimon and the Bankers: (Dimon and boyz need to see the inside of a jail cell) http://www.businessinsider.com/glass-steag...c#ixzz1umWwfPa0 http://z4.invisionfree.com/The_Great_Decep...0#entry22001761

jofortruth

Posted: May 18 2012, 08:40 AM

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The $2 Billion Dollar Loss by JP Morgan is Just a Preview of the Coming Collapse of the Derivatives Market:
http://www.prisonplanet.com/the-2-billion-...ves-market.html

QUOTE

$3 billion and counting JP Morgan - Loss Grows by 50 in 5 days:
http://www.theatlantic.com/business/archiv...-5-days/257312/

QUOTE

When JP Morgan announced a shocking $2 billion loss, chief executive Jamie Dimon admitted the amount could double to $4 billion by the end of the year. Instead it has increased by 50% in a matter of days. Two billion has become $3 billion, as hedge funds and other investors "have fueled faster deterioration in the underlying credit market positions held by the bank," DealBook reports.

It is, as Conor Sen quipped on Twitter, "like a BP oil spill in derivative form."

Remember: First, they said they lost $2 billion in Derivatives. Now it has grown to $3 billion, and say it could possibly get to $4 billion. These guys never tell the truth, so it's probably far worse than that even! These guys are messing with your future and still no one is in jail. ASK YOURSELF WHY THAT IS?

jofortruth	Posted: May 18 2012, 08:47 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	Listen to Mark Johnson explain the Derivatives deceit that collapsed the economy in 2008 and is still causing problems today! (START AT TIME 16:44) http://youtu.be/RSt_ml2F7ds YET, NOT ONE BIG BOY BANKER INVOLVED IN THE SCAM HAS GONE TO JAIL, but instead are being allowed to give government advice now at the highest levels? YOU MUST BE KIDDING ME! THESE BIG SHOTS SHOULD BE RUN OUT OF TOWN, NOT ALLOWED TO SIT AT THE TABLE NOW ACTING AS ADVISOR, TO A PROBLEM THEY CREATED! THIS IS LUNACY! MORE ON THE INTENTIONALLY CREATED DESTRUCTIVE DERIVATIVES THAT ARE BRINGING THE SYSTEM DOWN AND YET BOTH PARTIES (WHO WORK AS ONE IN CONGRESS) ARE IN AGREEMENT THIS INDUSTRY SHOULD BE FURTHER DEREGULATED? HOW STUPID (OR IS IT THEY HAVE BEEN BOUGHT AND NEUTERED, OR THREATENED, AND SO SIT ON THEIR HANDS AND DO NOTHING?) CAN THESE SO CALLED REPRESENTATIVES BE. IF THEY STILL THINK DERIVATIVES ARE ACCEPTABLE AFTER THE DAMAGE THEY HAVE ALREADY CAUSED, THEY ARE IN LA LA LAND AND SHOULD BE FIRED. THEY ARE NOT REPRESENTING YOU, BUT THE BANKERS! http://z4.invisionfree.com/The_Great_Decep...0#entry22001832

jofortruth

Posted: May 18 2012, 09:44 AM

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JPMorgan trading loss could hit $5-billion, report warns
http://www.theglobeandmail.com/report-on-b...mpaign=95142518

QUOTE

How high are JPMorgan's losses?

The trading losses at JPMorgan Chase & Co. (JPM-N33.93----%) are weighing on the minds of investors today amid a fresh report that warns they could reach as much as $5-billion (U.S.).

When the Wall Street giant unveiled the hit, it pegged it at $2-billion, and possibly about $1-billion. But, The Wall Street Journal reports today, it could go much higher.

The news organization takes a fascinating inside look at the trouble - it's well worth reading - but it's that $5-billion number that's raising eyebrows.

jofortruth

Posted: May 21 2012, 04:17 PM

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JPMorgan Chase loss only going to get worse
http://money.cnn.com/2012/05/18/markets/jp...-loss/index.htm

QUOTE

The number being bandied about now is closer to a range of $6 billion to $7 billion, according to several people working on trading desks that specialize in the derivatives JPMorgan Chase (JPM, Fortune 500) used to make its trades and from two sources with knowledge of the bank's positions.

jofortruth	Posted: Oct 2 2012, 04:34 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	JPMorgan sued for fraud over mortgage securities http://www.cbc.ca/news/world/story/2012/10...ear-stears.html

jofortruth	Posted: Oct 3 2012, 07:34 PM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	Chris Whalen on JPM and Mortgage Fraud: http://market-ticker.org/akcs-www?post=212306

jofortruth	Posted: Oct 12 2012, 09:46 AM
Administrator Group: Admin Posts: 31,413 Member No.: 1 Joined: 1-May 07	JP Morgan Record $57 Billion 3rd Qtr Profit: (Well, if we got bailouts repeatedly when we broke the law and plundered the citizens wealth, the same could happen for us! This bank is the biggest abomination! GRRRRRR!) http://www.theglobeandmail.com/globe-inves...mpaign=98411977

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