The insolvent United States banking system: Lessons from J.P. Morgan Chase

Why the banks must be nationalized

By Horace Campbell

As central bankers from China to Venezuela and from Argentina to Japan are seeking ways to exit from the contagion of the speculative trading of US bankers, progressive forces must renew the call for the nationalization of the big banks, which are supposed to be too big to fail.

At Least 38 U.S. Lawmakers Personally Invested in JPMorgan Chase

By Russ Choma

15 Democrats and 23 Republicans owned shares in JPMorgan Chase worth a total of between $2.1 million and $3.8 million.

The Waltz of the Zombie Banks

By Mike Whitney

It s the same everywhere. The banks are keeping houses off the market to trick people into believing that prices have hit bottom. But prices haven t hit bottom, in fact, they still have a long way to go.

How the Ultra-Rich Betray America

By Paul Buchheit

The betrayals come in many forms. Here are a few of the more outrageous, and destructive, examples.

Rising US recession risk poses the real threat to Europe

The US economy has slowed to stall speed. A few lonely forecasters fear that America has already fallen back into recession, replicating the terrible double-dip of 1937.

JPMorgan Chase Losses Eclipse $30 Billion

By Mark Gongloff

Dimon, in his comments on Monday, said the bank wasn t going to keep updating everybody on its losses.

Collateral Damage: QE3 and the Shadow Banking System

By Ellen Brown

Rather than expanding the money supply, quantitative easing (QE) has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit.

From Information Clearing House


JPMorgan Chase and casino banking

Foundation for Economic Education
by Gerald P. O'Driscoll, Jr.


JPMorgan Chase & Co., one of the nation s leading banks, revealed in May that a London trader racked up trading losses reportedly amounting to $2.3 billion over a 15-day period. The losses averaged over $150 million per day, sometimes hitting $200 million daily. The bank originally stated the trades were done to hedge possible losses on assets that might suffer due to Europe s economic woes. There is now doubt whether it was a hedge or just a risky financial bet...

Break up the big banks; here s how

Our Future
by Richard (RJ) Eskow


The JPMorgan Chase scandal, and yes, it is a scandal, shows us why we need to break up the big banks as quickly as possible. But that won t happen unless we can get our hands around the real scope of the problem, which is probably far greater than we are being told...

Informant: Thomas L. Knapp


Bank Regulators Under Scrutiny in JPMorgan Loss

Jessica Silver-Greenberg and Ben Protess, The New York Times News Service: ''Scores of federal regulators are stationed inside JPMorgan Chase s Manhattan headquarters, but none of them were assigned to the powerful unit that recently disclosed a multibillion trading loss. The lapses have raised questions about who, if anyone, was policing the chief investment office and whether regulators were sufficiently independent. Instead of putting the JPMorgan unit under regular watch, the comptroller s office and the Fed chose to examine it periodically.''

Is JPMorgan Paying for John Boehner s Personal Polling Operation? Questions Surround Shadowy Front ''New Models USA''

Lee Fang, Republic Report: ''We d like to call your attention to a secretive nonprofit, 'New Models U.S.A.' The media has linked the group to a number of shady electioneering efforts in the past. In this day and age, not only can corporations spend unlimited amounts on elections, they can fully hide their identities using nonprofit groups that can operate as Super PACs or quasi-lobbying firms. New Models appears to exist for the express purpose of hiding political money.''


Shadow Banking


It Shadow Banking the next financial landmine?'Driscoll


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