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Banks Are Under Assault

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JPMorgan Chase's fourth quarter earnings have been hit by nearly $1bn (£656m) of legal costs relating to the forex scandal. The bank would have reported an annual increase in net income of more than $500m (£328m) if it had not been for the fees. Instead it was down 6.6 per cent. http://www.cityam.com/207118/jpmorgans-fourth-quarter-blighted-1bn-forex-fine

It will impact bonuses for highly paid bank executives.

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what he really means, is that the victims are starting to fight back against the assault on Society they inflict continuously on us.

We are still pussy footing with them...

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Such a sustained attack threatens the competitiveness of the US as a whole, the chairman and chief executive said in an unusually outspoken defence of the industry

So let them get away with even more fraud, malpractice and swindling etc etc etc?

He seems to have already forgotten the economic collapse they helped to cause and how it affected competitiveness. Not to mention how all the bailouts and quantitive easing etc affected competitiveness - as well as people's lives. They even continued to award themselves massive bonuses for failure - to rub it in.

Maybe he's been talking to Mr Robert (the time for remorse is over) Diamond.

He's making a big issue of the subject to pretend the measures are more than they actually are when the measures are pretty small compared to the scale of the banking excesses and the bailouts etc.

The measures are nothing compared to the damage the bankers have caused.

Edited by billybong

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IN other news today, petty criminals up and down the country today are claiming the existence of the police force is an infringement on their civil liberties :lol::lol::lol:

That's right. It's a clear assault on the black market, which is crucial for our modern GDP figures!

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Amazing gratitude, he's only got a job because of the Fed printing press and massive taxpayer bailout of the financial system. Clearly it shouldn't regulated.

http://www.amazon.co.uk/Status-Quo-Crisis-Financial-Governance/dp/0199973636/ref=sr_1_4?s=books&ie=UTF8&qid=1421322604&sr=1-4&keywords=the+status+quo

However this book would indicate he's crying wolf.

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The flood of megafines and regulations being inflicted on banks amounts to an “assault” by a multitude of authorities, JP Morgan’s boss Jamie Dimon claimed yesterday. http://www.cityam.com/207186/we-are-under-assault-says-top-bank-boss

This is a taxpayer subsidized job that definitely needs regulating for the benefit of the shareholders to stop the excesses of management.

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I'm in two minds..

On one hand I agree that most of it is just the arbitrary taxing/taking of banking profits which seems a little misdirected when it was the central banks and governments who we trusted to oversee financial stability and regulation, not the banks who as commercial enterprises were obviously only ever going to be interested in making money.

That said, if we don't steal all of their money and tax them into the ground, then the Americans will just take our share instead.. So if they are going to be trashed the UK might as well get as much as it can.

Edited by libspero

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Governments are trying to shake out some money of those banks left standing.

Maybe he needs to lobby to get the government to pursue assets of those people who worked for bust banks?

And he needs to listen to what the FED is hinting at: 'We do not like big banks. Shrink you fukker'

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