Why Does JPMorgan Still Have A Banking License?

 

Home Forums The Automatic Earth Forum Why Does JPMorgan Still Have A Banking License?

This topic contains 6 replies, has 1 voice, and was last updated by  Glennda 6 years, 10 months ago.

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  • #9076

    Bob Lerner Robert Kennedy at a drive-in Spring 1960 “John F. Kennedy’s 1960 Democratic presidential nomination campaign in Bluefield, West Virginia”I
    [See the full post at: Why Does JPMorgan Still Have A Banking License?]

    #8976

    Professorlocknload
    Participant

    Why does JP Morgan still have a license? Maybe ’cause a certain account is held by;

    https://blog.timesunion.com/capitol/archives/187258/cuomos-blind-trust-worth-over-1-75m/

    And, his old Chief of Staff is;

    https://en.wikipedia.org/wiki/Benjamin_Lawsky

    Two simple google queries. I’d delve deeper but would, judging the way Corporatism works in the world today, be further disgruntled with the results.

    Man, now I can see why the Secretary of State said the internet makes it difficult to “govern.”

    #8977

    jal
    Participant

    droit du seigneur, (French: “right of the lord”), a feudal right said to have existed in medieval Europe giving the lord to whom it belonged the right to sleep the first night with the bride of any one of his vassals. The custom is paralleled in various primitive societies, but the evidence of its existence in Europe is all indirect, involving records of redemption dues paid by the vassal to avoid enforcement of some lordly rights. Many intellectual investigations have been devoted to the problem. A considerable number of feudal rights were related to the vassal’s marriage, particularly the lord’s right to select a bride for his vassal, but these were almost invariably redeemed by a money payment, or “avail”; and it seems likely that the droit du seigneur amounted, in effect, only to another tax of this sort.

    #8978

    rapier
    Participant

    Admittedly I have spent very little time outside the US but I am going to make an assertion anyway that pertains to this. That is American’s above all people defer to money more than people of any other place on earth. The more wealth an individual or company has or is thought to have the more citizens and institutions will defer to them. Wealth defers not just deference but respect. If the sums are large enough then respect and deference is almost absolute.

    de Tocqueville noted this and attributed it largely to the idea that everyone deferred to the wealthy in order to have some chance of getting a part if it for themselves. It is also basically true that anyone who gets paid to comment about news and policy would be blocked from career advancement in the mainstream media, where the money is, if they dumped on Dimon or JPM. The same holds for government institutional leaders, regulators and law enforcement.

    Obama has repeatedly met with financial and banking top executives and always speaks deferentially about them afterwards. The most rabid of right wing talking politicians never ever speak ill Wall Street. At least there, 100 and more years ago, populists of what we now call the right were active enemies of The Street but no more.

    There is nobody within 2 degrees of separation of government executive power in Federal or State governments who would even consider taking JPM’s “licence”. Nobody who would think such thoughts could possibly rise to power in the first place. Not in America nor increasingly in the rest of the world.

    #8979

    Golden Oxen
    Participant

    This article is a clear reminder and picture of the corruption that has rotted our society, and it’s legal institutions.

    The strongest argument I see for those predicting total collapse. How can a tree ever grow that has rotted to this extent?

    #8980

    p01
    Participant

    It goes something like this (warning for sensible souls: explicit lyrics):
    https://www.youtube.com/watch?v=R890wISHwG4

    I’m JPMorgan, you’re JPMorgan, all of us are JPMorgan.

    .

    #8982

    Glennda
    Participant

    I loved reading this post on Zero Hedge today.

    JP Morgan tried to do social media and it turned into the laugh-of-the-day for all kinds of people. They used Twitter with #AskJPM

    Amazing that they had no clue of how funny the truth sounds. The questions are great. Naturally they had to cancel it all.

    https://www.zerohedge.com/news/2013-11-13/how-jpmorgans-latest-pr-stunt-blew-its-face

    I got some really good belly laughs on some of the questions they were asked.

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