by Pam Martens and Russ Martens
Wall Street on Parade
JPMorgan Chase is unique among the mega banks on Wall Street – and not in a good way. It owns the largest federally-insured bank in the United States despite a rap sheet that would make the Gambino crime family jealous. It has been charged by the U.S. Department of Justice with five felony counts since 2014, admitting to all of them. Its Board of Directors has left the same man, Jamie Dimon, at the helm of the bank as Chairman and CEO, throughout those five felony counts.
JPMorgan Chase is also the only American bank to ever be fined for using depositors’ money to gamble in derivatives in London and lose $6.2 billion of that money. (Jamie Dimon was Chairman and CEO at the bank then as well.)
JPMorgan Chase is the only federally-insured bank in the United States to be charged with two felony counts for helping to facilitate the largest Ponzi scheme in history – the Bernie Madoff looting of thousands of investors.