Matt Taibbi on JPMorgan Chase, Too Big to Fail, AIG, Jamie Dimon, and How Bankers Stay Out of Jail

By Elaine Magliaro

Breaking the Set host Abby Martin spoke with investigative journalist Matt Taibbi recently about JP Morgan Chase whistleblower Alayne Fleischmann who came forward to expose how the bank knowingly sold toxic mortgages to investors and how the Justice Department used her as a pawn in its settlement negotiations with the financial giant. Martin and Taibbi also touched on other subjects–including the huge raise Jamie Dimon received after the bank’s record-breaking settlement with the Justice Department; AIG’s lawsuit against the government; white collar crime; the Bush Administration being tougher on Wall Street than the Obama Administration; the Dodd–Frank Wall Street Reform and Consumer Protection Act; and too big to fail companies.

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11 Responses to Matt Taibbi on JPMorgan Chase, Too Big to Fail, AIG, Jamie Dimon, and How Bankers Stay Out of Jail

  1. buckaroo says:

    I do believe I heard on CNBC this morning that we now have been appraised that regulators of the banks are believed to own stock in said banks. For heaven sake …………

  2. The Fed has a revolving door with Goldman Sachs e t c. They claim it is the only place to get from a qualified talent pool.

    As for me, I’ve got a problem when someone leaves a $50 million dollar job, to take one fir $150,000;

    And then mysteriously keeps letting the former employers off the hook.

    It’s inane that we have to even debate the surreptitious ness of it all!

  3. And – please – don’t get me started on Taibbi.

  4. randyjet says:

    I personally knew a banker who went to prison. He was our back door neighbor who was a VP of Society for Savings, an S&L. He made a loan to our next door neighbor for his nursery business, and reported it as a home loan. At the time that was illegal for S&Ls to make such loans. He was caught, and went to prison for five years. Nobody lost any money on the loan, but since it was illegal under the rules and no money was lost, he still went to prison for it. It is obvious that his problem was that he did not lose money for his S&L, and that he was not big enough to avoid prison.

  5. Randyjet;

    He was 30 years too early.

  6. If I use my cell phone to post comments – we are A Okay!

    But – if I use my new laptop –

    we go into the abyss!

  7. This is why we can’t get justice done. No one really cares about white collar organized crimes (even many are envious); because most believe it has no effect upon them.

    Shheesssshhhh – what an apathetic world of cognitive dissonance we live in!

    Taibbi missed so many facts – when he cancelled our just before “Greed and Debt” August 2012 conference call. Such as his report on the fact of Michael Glazer paying himself $18 million and Bain Capital $83 million, prior to Glazer filing bankruptcy of Kay Bee; and Matt’s other tidbits about Romney’s funding of Stage Stores by a specious Judge (whose wife was partners in the dealings) as the same court presiding over Michael Milken funding of Stage Stores formulation by junk bond fraud monies (that he looked up on his own -because I hadn’t given him that part yet).

    Romney is quoted as saying “should we bust the whole deal cause of whence it came”.

    Whereas, the truth of the matter is – the Judge should have never been allowed to preside over the issue (and – in fact – should probably be in jail for so doing); and Mitt should have never even been allowed the option of keeping the funding in place (wonder how the accounting of paying that all back REALLY worked out).

    Then there’s the neat little tidbit of the fact that the same Glazer who paid himself $18 million and Bain Cap $83 million (and then filed bankruptcy and kept it all – in an even more specious manner) – was also a Director at Stage Stores at that time (and – as a matter of fact – no one has reported on the issues that Glazer is now rewarded as CEO of Stage Stores).

    When you little them get “caught” and continue – they are encouraged to do faster/bigger.

    N’est-ce pas!

  8. rafflaw says:

    Laser,
    I think people care about white collar crime, but if the Feds won’t put any of the big Banksters on trial, the banks have no incentive to stop their money making scams. And if the Feds don’t prosecute these “special” white collar crooks, most people won’t have a chance of learning about it since the mass media is owned by the same crowd.

  9. rafflaw;

    In the grand scheme of things (Ferguson, the Holidays, ACA and Immigration politico wars) = most really don’t care. That is, of course, unless something is happening to them currently.

    Just look at the lack of banter upon here.

    When some minor online blogs (Liberals Unite, Addicting Info and PoliticusUSA) reported on my suing Romney; it did gather over 2 million web views and over 200,000 FB’s & Tweets. Because, most people, want to see justice transpire and our cases are blessed with extraordinary evidences.

    Then, (as in Ferguson) the powers that be circled the wagons. Power, money and undue influence might makes right – quashed justice once again. When Liberals Unite reported on the judges ruling that I’m vexatious and frivolous, that blog received less than 10,000 views.

    PoliticusUSA and Addicting didn’t even bother to report.

    People have too much going on, in their day to day struggle, to come on board and get active about white collar crimes (and the even more obfuscating and diminutive “conflict of interest” issues germane as causation).

    They’ll get behind Ferguson, as they should (without the crooks taking advantage and looting); because it is a national (worldwide too) Civil Rights issue concerning liberty & life. And no one (recently) is dead in our cases.

    I’ve got a reporter doing a big piece (she’s been studying for a while); and I’m already impressed with the attention to details and style of other articles. When that occurs, with my march to the SCOTUS; perhaps (a very VERY slim perhaps) – something will come of it.

    United We STand!

    Divided (as we are on white collar fraud issues) – we are conquered from the outset.

  10. bigfatmike says:

    Here is an article by Simon Johnson over at baseline scenario about Citigroup and the recent budget debate. It is optimistically, I think, titled ‘Citigroup will be broken up’.

    It also mentions some interesting recent changes among democrats, including Sen. Warren. For a girl that had to claim to be Native American to get a date for lunch, she actually seems to know something about finance and how power works between wall street and capital hill.

    Altogether, I though it was an interesting read, including the observation to the effect that Citigroup is powerful enough to hold the entire US budget hostage in order to repeal part of Dodd-Frank financial reforms.

    http://baselinescenario.com/2014/12/12/citigroup-will-be-broken-up/

  11. Senator Warren,s known about our cases, in depth, for 8 years now. She is a bankruptcy law professional. As such, tgey get inside vuews and studies of financial world complexities that cause insolvencies.

    If only she weren,t Mass. and had gsined her seat somewhere else.

    As for Taibbi, I’ll support him; but he and Rollong Stone need a swift kick in the ass.

    They’re part of the nolle prosequi problem

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