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Is the Department of Justice targeting JP Morgan for anti-Obama comments?

November 2, 2013

It has recently come to  light that the Department of Injustice is investigating JP Morgan for what it calls shady business dealings in China.

JPMorgan Chase admitted it is under investigation by the Justice Department over its hiring practices in Hong Kong, the latest in a string of federal probes and lawsuits against the bank that some believe is motivated by political payback.

Reuters reports that JPMorgan — the largest U.S. bank by assets — disclosed the investigation Friday as part of a routine filing with the Securities and Exchange Commission (SEC), which is also looking into alleged cronyism in the bank’s hiring process in China.

investigators claim that JPMorgan routinely hires young, well-connected Chinese people in order to grease the wheels of important business deals in the country. The bank hired the son of the chairman of China Everbright Group, a massive state-owned financial conglomerate, earning a series of lucrative contracts soon afterward

  I admit that sounds pretty bad but it is not unusual and in fact other big bankers which are not facing the wrath of the Federal Government are also involved in the same type of activity:

its behavior isn’t much different from other American megabanks — including Goldman Sachs, which was largely spared by regulators.

  And this is not the first time JP Morgan has been targeted by the Obama regime:

It’s the latest in bad news for JPMorgan, which agreed to pay a record-breaking $5.1 billion to the Federal Housing Finance Authority (FHFA) last week over toxic mortgage securities sold before the financial crisis. An additional $9 billion settlement over the same securities is in the works with the Department of Justice, putting the bank on the hook for an astounding $14.1 billion in penalties.

  So why has JP Morgan been targeted while others have received a free pass? The answer could lie with comments JP Morgan CEO Jamie Dimon made before the 2012 election:

Once called President Obama’s “favorite banker” in 2009, Dimon had a falling-out with the president after blaming the stagnant American economy on the government’s failure to follow the Simpson-Bowles debt-reduction plan and accusing the Obama administration of a “constant attack on business.”

“I would call myself a ‘barely Democrat’ at this point,”

  Just days after making this comment the Department of Injustice opened up this latest investigation. Is this merely a coincidence or is the Obama regime targeting JP Morgan for political reasons because the CEO had the gall to speak out against the Dear Leader?

  Normally I would write this off as nothing but a conspiracy theory but there is a history with Barack Obama dating back to before he was president. His political opponents have been called racists and bigots simply for opposing his agenda even before he was president and since he won the election in 2008 it has only gotten worse.

  Since he has become president Barack Obama has collected the phone records of journalists who write articles critical of the Dear Leader, going so far as to send DHS into a reporter’s house to collect her personal records, shaken down political ally Bob Beckel for daring to suggest the Obamacare individual mandate be postponed, and has intimidated the insurance companies from speaking out against Obamacare.

  This all comes on top of the fact that Barack Obama used the IRS to target political enemies and has attacked anyone who wants to get to the truth behind Fast and Furious and Benghazi, and do not forget about the DHS’s infamous right wing extremist report which was followed by the Department of Injustice’s decision to drop the voter intimidation charges against the Black Panthers despite video evidence they were suppressing anti-Obama voters.

  So is this merely a conspiracy theory as Barack Obama’s supporters would have us believe, or it this the latest in an ongoing policy of attempting to punish and intimidate anyone from speaking out against the Dear Leader? 

10 Comments leave one →
  1. Phillip Cleary's avatar
    November 2, 2013 7:40 pm

    Hiring cronies and family is a way of life in Illinois. As a matter of fact they even have patrilineal succession in political office here. So why the big deal?

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    • Steve Dennis's avatar
      November 2, 2013 7:52 pm

      True, this is the political climate he came from so this is business as usual. It is telling though that he decided to move to Illinois from Hawaii to begin his political career. Sounds like he was all in on this mentality before he moved there, why else would he make this move from “paradise?”

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  2. Brittius's avatar
    November 2, 2013 7:54 pm

    Reblogged this on Brittius.com.

    Like

  3. bunkerville's avatar
    November 3, 2013 8:36 am

    They are out to get them at any cost. Can you imagine the legal fees for fending off the attacks over the years?

    Fines or extortion JPMorgan have paid not including the tentative settlement reached with the Justice Department Saturday of $13 billion

    Oct. 2013: $100 million.

    Sept. 2013: $920 million

    Sept. 2013: $389 million

    July 2013: $410 million

    January 2013 and Feb. 2012: $1.8 billion

    November 2012: $296.9 million

    August 2012: $1.2 billion

    April 2012: $20 million

    August 2011: $88.3 million

    July 2011: $228 million

    June 2011: $153.6 million

    April 2011: $56 million

    June 2010: $48.6 million

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  4. Petermc3's avatar
    Petermc3 permalink
    November 3, 2013 3:25 pm

    On paper those fines look staggering but no more staggering that what Mooch has spent on vacations these past five years. This administration and DOJ suing for cronyism is like our next president calling any other woman fat and ugly.

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