Tag Archives: JP Morgan

Just Put Your Lips Together and Blow

From THINK PROGRESS ECONOMY:

A new Stop Snitchin campaign to deter would-be informants, in this case against people speaking up against crimes on Wall Street, is quietly taking shape, this time far from the media’s eye.

Financial experts and academics agree that strong whistleblower regulations could have prevented the Bernie Madoff Ponzi scheme and indeed much of the financial crisis if employees at firms engaged in fraudulent activity had spoken up early or had reported complex crimes to the appropriate authorities. Employees at firms at the center for the financial crisis, including troubled lender Countrywide, have cited intimidation and other illicit tactics as the reason few people spoke up as whistleblowers. Since the old whistleblower laws provided for weak legal protections for informants and relatively rare rewards, the Dodd-Frank financial reform law passed last year revamped the system with new rights for informants blowing the whistle on financial crimes.

Bank lobbyists and Fox News, however, have made such protections enemy number one.

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Filed under Barack Obama, Congress, Fox News, humor, movies, parody, politics, Republicans, snark, Wordpress Political Blogs

Cronies and Phonies

Before you faint from seeing where I found this, note that this was at the bottom:

Paid for and authorized by the Democratic National Committee, http://www.democrats.org. This communication is not authorized by any candidate or candidate’s committee.

From Fox Business:

This week John McCain has stayed busy trying to escape his ties to criminal lobbyist Jack Abramoff and his shady lobbyist colleagues, including Randy Scheunemann and Ralph Reed. The McCain campaign has been trying to gloss over the details of Scheunemann’s swings between lobbying and advising McCain, often on issues of interest to recent clients, and attempting to excuse McCain’s enlistment of Abramoff crony Reed to raise money. But the McCain campaign can’t spin away Scheunemann’s shady ties, or his influence on McCain, and they’re not having any more success trying to escape the fallout over McCain’s refusal to cancel his Monday fundraiser with Reed.

(At the top: Captain Underpants and Rick Davis. In front: Randy Scheunemann, Jack Abramoff, Ralph Reed)

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Fizzly Bear

From The Swamp at the Baltimore Sun:

President Bush said some very nice things about the Federal Reserve’s rescue, once removed, of Bear Stearns, the wobbly investment bank.

“… We’ve taken strong and decisive action,” Bush said. “The Federal Reserve has moved quickly to bring order to financial markets. Secretary (Henry) Paulson is supportive of that action, as am I,” said Bush, referring to the Treasury Secretary.

Not everyone is joining Bush in singing the Fed’s praises. Some say the central bank’s actions violate notions of fairness. Why is a large investment bank rescued while homeowners are left to the rough justice of foreclosure and bankruptcy?


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Filed under Ben Bernanke, Chimpy, George W. Bush, humor, movies, parody, politics, snark, Wordpress Political Blogs