Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges

[Gunnar Larson]

https://wallstreetonparade.com/2024/04/jamie-dimon-huddles-in-private-with-biden-bigwigs-as-his-bank-faces-more-crime-charges/


By Pam Martens and Russ Martens: April 1, 2024 ~


Jamie Dimon, Chairman and CEO of JPMorgan Chase, Shows Off Presidential
Cuff Links While Testifying Before Congress in 2012 on the London Whale
Trading Scandal

Remember that time in 2016 when Attorney General Loretta Lynch decided she
would take a private meeting with Bill Clinton on her plane as it was
parked on the tarmac in Phoenix – while his wife, Hillary Clinton, was
under federal investigation for using an unsafe private email server at her
New York home to receive classified government emails when she was
Secretary of State?

What President Biden’s Vice President, Kamala Harris, and his Chief of
Staff, Jeff Zients, did in mid-March was equally scandalous. Harris had a
“one-on-one lunch at the White House” with Jamie Dimon, the Chairman and
CEO of the most crime-riddled bank in the United States, JPMorgan Chase.
Zients also separately met with Dimon. That reporting comes courtesy of
reporters Joshua Franklin and James Politi of the Financial Times
(paywall). It has not been disputed by the Biden administration.

Dimon’s private meetings in Washington come as the bank (that has already
admitted to a string of five criminal felony charges) is currently facing a
serious investigation for “billions” of improperly conducted trades by its
federally-insured bank. Two of its federal regulators, the Office of the
Comptroller of the Currency and the Federal Reserve, settled those charges
in March for a combined $348 million. Both regulators provided extremely
sketchy details as to the precise nature of the trading misconduct.
JPMorgan Chase revealed in an SEC filing in February that it remains under
investigation in the same matter by a third regulator “but there is no
assurance that such discussions will result in a resolution,” the bank
wrote in the filing.

It would certainly not be the first time that Dimon attempted to throw his
weight around in Washington to get his bank out of trouble. During
Congressional hearings in 2012, when Dimon was called to testify about his
bank allowing its traders to use deposits from its federally-insured bank
to gamble in derivatives in London and lose what eventually tallied up to
$6.2 billion (the infamous “London Whale” scandal), Dimon had the temerity
to wear presidential cuff links to show off a gift from the White House.

Then there was Dimon’s meeting with Attorney General Eric Holder during the
Obama administration when JPMorgan Chase was being investigated for
widespread mortgage fraud. For what the bank got away with in that matter,
see Matt Taibbi’s report revealing that the Justice Department sandbagged
their key witness, a former lawyer/ whistleblower inside JPMorgan Chase,
who called it “the biggest financial cover-up in history.”

According to the recent Financial Times report, Vice President Harris did
not list the luncheon on her official daily calendar, suggesting she knew
it was inappropriate. The FT reporters also reveal the following:

“Dimon, one of the most influential voices on Wall Street, also separately
met White House chief of staff Jeff Zients while he was in Washington, as
well as federal regulators and members of Congress. It could not be learnt
what was discussed at the meetings. The White House and JPMorgan, the
largest US bank by assets, declined to comment.”

The only reason that Dimon is still called “one of the most influential
voices on Wall Street” is because sycophants in mainstream media still call
him that. Engaged Americans, like former Labor Secretary and Public Policy
Professor Robert Reich, call Dimon an “oligarch” who has “hijacked the
system.” Trial attorneys Helen Davis Chaitman and Lance Gotthoffer released
a book, JPMadoff: The Unholy Alliance Between America’s Biggest Bank and
America’s Biggest Crook, in which they provided this take on Dimon:

“In Chapter 4, we compared JPMC [JPMorgan Chase] to the Gambino crime
family to demonstrate the many areas in which these two organizations had
the same goals and strategies. In fact, the most significant difference
between JPMC and the Gambino Crime Family is the way the government treats
them. While Congress made it a national priority to eradicate organized
crime, there is an appalling lack of appetite in Washington to
decriminalize Wall Street. Congress and the executive branch of the
government seem determined to protect Wall Street criminals, which simply
assures their proliferation…

“If Jamie Dimon is running a criminal institution, he should be prosecuted
for it. And law enforcement has the perfect tool for such a prosecution:
the Racketeer Influenced and Corrupt Organizations ACT (RICO).”

In 2014, the non-profit watchdog, Better Markets, filed a federal lawsuit
against the U.S. Department of Justice and the man who sat at its helm,
Attorney General Eric Holder. The lawsuit challenged what had emerged out
of that cozy meeting between Holder and Dimon – a $13 billion out-of-court
settlement over the bank’s sale of toxic mortgages.

Better Markets wrote on its website that this was at the time “The largest
settlement in U.S. history from a single entity by more than 300%” and that
it “granted JP Morgan blanket civil immunity for years of alleged, but
undisclosed, pervasive, egregious and knowing fraudulent and illegal
conduct that contributed to the 2008 financial crash and the worst economy
since the Great Depression.”

Among the allegations in the Better Markets’ press release, these three
stood out:

“The Attorney General and other senior DOJ political appointees negotiated
directly and entirely in secret with the CEO of JP Morgan Chase [Jamie
Dimon], someone who was considered a possible Treasury Secretary just a few
years ago.

“The cellphone of DOJ’s third highest ranking official rang with the
‘familiar’ phone number of JP Morgan Chase’s CEO [Jamie Dimon], who called
to offer billions of dollars to stop DOJ from holding a press conference
and filing a lawsuit in just a few hours. The call worked, and the press
conference and lawsuit were both called off.

“DOJ gave complete civil immunity to JP Morgan Chase for defrauding
thousands in exchange for $13 billion, via a contract that was negotiated
and finalized in secret without any review or approval by a federal court.”

Attorneys for the Justice Department asked the federal court to dismiss the
Better Markets lawsuit on the basis that Better Markets lacked standing to
file the lawsuit. The U.S. District Court for the District of Columbia did
just that in a longwinded decision that effectively stripped Americans of
their ability to fight back against the increasingly corrupt nexus between
Washington and Wall Street.

If you agree with Wall Street On Parade that the current banking structure
in the U.S. represents a threat to national security and economic
stability, please contact your U.S. Senators today via the U.S. Capitol
switchboard by dialing (202) 224-3121. Tell your Senators to hold immediate
hearings on the urgent need to restore the Glass-Steagall Act to separate
Wall Street’s trading casinos from federally-insured commercial banks.
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