by Pam Martens and Russ Martens at Wall Street on Parade
The tenure of Jamie Dimon as Chairman and CEO of JPMorgan Chase, the largest federally-insured bank in the United States and the largest trading casino on Wall Street, has copiously revealed the following: the bank is more than willing to look the other way at crime if it means an increase in assets, profits or business referrals.
Each of those three ingredients were present in the bank’s decades long involvement with Bernie Madoff, with its Chinese Princeling scandal and in the unfolding details of its intimate relationship with child sex trafficker Jeffrey Epstein.
This reality may be difficult for the New York business press to acknowledge – since it has mostly covered Jamie Dimon as the grand statesman of Wall Street – but this is the hard reality nonetheless.
Yesterday, the Wall Street Journal’s Khadeeja Safdar and David Benoit revealed the contents of a 22-page internal report that JPMorgan Chase had prepared in 2019 as a timeline of its relationship with Jeffrey Epstein. The bank was apparently attempting to assess its liability after Epstein was arrested on July 6, 2019 by the Justice Department and charged with sex trafficking. (Epstein was found dead in his jail cell on August 10, 2019. The Medical Examiner ruled his death a suicide.)
The 22-page internal report had been filed under seal with the federal district court in Manhattan that is hearing two lawsuits against the bank for aiding and abetting Epstein’s sex trafficking. Apparently, someone leaked the full contents of the report to the reporters. One paragraph of the Wall Street Journal article is particularly enlightening. It reads as follows:…
Continue Reading