Wall Street Megabanks’ Multi-Billion Dollar Blunders Suggest Money Controls as Good as George Bailey’s Uncle Billy
By Pam Martens and Russ Martens: July 29, 2022 ~ What do you get when you mix federally-insured banks with Wall Street trading casinos? You get the potential for catastrophic risks for the U.S. taxpayer and astronomical riches for the CEOs of the banks and the hedge fund titans they serve. Why is this Faustian bargain tolerated by Washington lawmakers – especially after the greatest financial collapse since the Great Depression in 2008? Because the Wall Street fat cats throw a lot of money into the political campaigns of members of Congress, ensuring that no matter how many times these Frankenbanks make outrageous blunders involving billions of dollars, Congress will conduct a superficial investigation and move on. Below we examine outrageous money blunders by Barclays, Citigroup, JPMorgan Chase and Morgan Stanley – all of which have the earmarks of the brand of money incompetence as George Bailey’s Uncle Billy in Frank … Continue reading →
Source: http://silveristhenew.com/2022/07/29/wall-street-megabanks-multi-billion-dollar-blunders-suggest-money-controls-as-good-as-george-baileys-uncle-billy/
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