Today we learn about yet another investigation into JPMorgan Chase & Co. This one is an FBI investigation into whether several JPMorgan employees tried to impede an investigation into alleged manipulations of power markets.
This investigation follows on the heels of a JPMorgan subsidiary agreeing to pay a $410 million penalty for the same manipulations while yet again denying any wrong doing.
This a pattern that keeps repeating over and over again. JPMorgan agrees to pay a fine or penalty that rarely exceeds the profits from the original wrong doing and nobody is prosecuted. After all JPMorgan Chase & Co. is "Too Big Too Fail" isn't it?
How many more times is this "Too Big Too Fail" bank going to get yet another "Get Out of Jail" free card?
With all the fines and penalties disclosed over the past few years, it"s becoming increasingly apparent JPMorgan Chase & Co. is a criminal enterprise as defined by RICO laws.
Jamie Dimon continues to hide behind "Plausible Deniability" over and over and over again. Different crime, same excuses.
If the DOJ is reluctant to prosecute because JPMorgan is "Too Big Too Fail," then it's way past time to break the company up into smaller components that can and should be prosecuted.
As a Nevada voter, I urge you to call for the break up of JPMorgan into entities that can be prosecuted for violating US laws without fear it will bring down the world economy.