Crime Certainly Does Fucking Pay . . .

Why does The Gadfly state in the title of this post that crime certainly does fucking pay?

Here's why:

JPMorgan Chase has reached a tentative $13 billion settlement with the Justice Department over a number of investigations related to to the bank's residential mortgage-backed securities business, according to The Wall Street Journal.

Tweets from The Wall Street Journal and CNBC broke the news Saturday.

News of the deal comes just a day after a JPMorgan was reported to have reached atentative $4 billion settlement with the Federal Housing Finance Agency over claims it sold bad mortgages to government agencies ahead of the financial crisis.

At $13 billion, the potential settlement with the Justice Department exceeds estimates in September that JPMorgan would end up paying as much as $11 billion over the allegations. If finalized, the settlement would be the largest the U.S. government has ever made with a single company, according to WSJ.

http://www.huffingtonpost.com/2013/10/19/jpmorgan-settlement_n_4128994.html


Not a shabby trade-off when you learn that just since 2011 alone, JP Morgan has reaped $53 billion in profits.

Yup -- a $13 million criminal penalty and you still walk away with $40 billion.  Nice fucking work if you can get it - dontcha know?

Not only that, it was the JP Morgans and the Bank of Americas of the world who were directly responsible for the 2008 financial crisis and succeeding recession, which to date, has cost the American people an estimated $12.8 TRILLION in reduced economic output.  You heard right dear readers --- $12.8 fucking TRILLION folks.  That amount of money could have provided every man, woman and child in this country with free health care for the next decade, and there would still would have been a couple of TRILLION left over which could have been used to create jobs, provide educational opportunities for our young people, and invest in our aging national infrastructure.

Therefore - frankly speaking folks - The Gadfly would gladly, and wholeheartedly, give every fucking penny of that $13 billion back if we were to just be provided with the opportunity to see JP Morgan's CEO Jamie Dimon and the rest of the thieving banksters and Wall Street bunco artists wearing orange prison jump suits and being frog-marched through the entry doors of Leavenworth to face life sentences at hard labor.

And that pretty much sums up everything The Gadfly has to say about this sordid matter.



----TFG