JPMorgan has Nothing to Fear from Obama (And They Know It)

Obama Donors in 2008 (Source: Opensecrets.org)

In the attached article the authors examine the bizarre tack of the current administration when it comes to financial crime.

In light of a new Department of Justice investigation into what happened last week at JPMorgan the authors explain that despite any public chastisement, little is likely to come from the investigation. This is the same DOJ that hasn’t charged Jon Corzine with anything despite piles of evidence that some real nastiness went on.

On the one hand the administration talks about the “greed” on Wall Street. On the other hand they raise money from those who have engaged in this “greed.”  Goldman Sachs gave more to Obama in 2008 than any other private entity. JPMorgan was not far behind.

Obama knows how to butter his political bread and going after Jamie Dimon and Company at JPMorgan might make that a bit more difficult, especially since the banks now have a buddy from Bain running on the GOP side.

Click here for the article.

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