JPM, that arrogant too-big-to-fail bank and its corrupt CEO Dimon, backing all those corrupt politicians in Washington D.C., only came to the settlement table in earnest, when faced with the prospect of a CIVIL lawsuit [where the government could conduct discovery, asking questions under oath, thereby exposing individuals to actual accountability, blame, and perhaps perjury charges], and JPM only increased its settlement offer when faced with the prospect of criminal charges.
The Presidential cuff-link-wearing Dimon, called Holder, only hours before the press conference at which the civil lawsuit would be announced.
Why the hell would Holder “scuttle the news conference?” If Dimon was reaching out to settle, only hours before the news conference, then why did not Holder demand more than $13 Billion? Why did not Holder demand disgorgement of ALL profits, plus a fine, from the fraud that JPM committed? If the lawsuit was all teed up, what would the harm have been from filing it and pursuing it with discovery, depositions, the works?
One negotiates successfully either from a position of weakness or a position of power. The one in the position of power gets the better deal.
Why the hell did Holder cave at this point? Dimon had NOTHING to offer, and the case would only have gotten stronger once depositions and discovery started in earnest.
The obvious truth here, is that BOTH Holder and Dimon needed a settlement for their own personal reasons.
By Ted Butler
Every once in a while, someone utters a statement that suddenly galvanizes the issue at hand. That’s the first thing that came to my mind when I read of the US Attorney General’s words before a Senate hearing this week.
In a blinding moment of clarity, the answer to the whole “why isn’t the CFTC doing anything about the silver manipulation and JPMorgan’s stranglehold on the price” question flashed for all to see. Mr. Holder’s words couldn’t be any clearer and fit perfectly with the now-consensus view held by those who know that JPMorgan is manipulating the price of silver. The reason the CFTC is allowing JPMorgan to continue with their illegal behavior in silver is because the bank is too dam* big and powerful to rein in for fear of the unintended consequences. [Read more...]
Eric Holder Responds to Rand Paul, Confirms Obama Will Murder US Citizens Via Drone Strike if Necessary!
In a letter dated March 4th 2013 written to Senator Rand Paul, Attorney General Eric Holder officially confirmed that the Obama administration will murder uncharged US citizens within the US via aerial drone strike if necessary to protect the homeland.
The USA is now officially the USSA.
Holder’s official full letter to Senator Paul is below: [Read more...]