It seems Americans just do not want to send Wall Streeter’s to jail for serious offenses.
JPMorgan Chase Bank is paying $88.3 million in an agreement with the Treasury Department, which says the bank violated regulations that prohibit lending money for entities linked to countries engaged in illicit nuclear trade and that cover dealings with Cuba and Sudan.
Treasury’s Office of Foreign Assets Control announced the agreement Thursday with the big Wall Street bank. The office said some of JPMorgan Chase’s “apparent violations” of the regulations were serious. That is correct. The violations were serious. Kind of makes you want to gag on the use of the word “serious”.
JP Morgan committed a serious crime and gets away with yet again. No jail time, no executives doing the perp walk, just business as usual. Write a big fat check to the treasury dept and presto, all better. Just wait until they turn around and hire the lead investigator in a few months time.
Wake up America, what will it take for you to understand what is happening to your standard of life. You are losing it each and every day and it will stop once the real crisis hits.
Details of the Cuban violations –
In the Cuban case, OFAC said the bank processed 1,711 wire transfers totaling $178.5 million between December 2005 and March 2006 involving Cubans, in an apparent violation of the U.S. Cuban assets control regulations. Although JPMorgan managers were given the results of an internal investigation of the transfers, the bank “failed to take adequate steps to prevent further transfers,” the agency said.