Force Out J. P. Morgan's Jamie Dimon: Mary Jo White Should Constantly Annoy Him To Leave

The collapse of the housing bubble and the following demise of Bear Stearns, Lehman Bros. AIG , Freddie Mac , Fannie Mae  and other widespread financial shocks that still reverberate around the world today was a mini replay of the Great Crash of 1929. Following the '29 Crash an investigation into the cause was after fits and starts successfully led by New York Assistant District Attorney Ferdinand Pecora. His background was prosecuting gangsters. He exposed the constructively criminal behaviors of the banks most notably National City Bank (Citigroup). He forced National City Banks Chairman Charles Mitchell to resign. Then and now it would be difficult to bring criminal charges against powerful Wall Street bankers. The legal hurdle of criminal intent is difficult to prove. So Pecora hounded him out of office. Later The Securities and Exchange Commission was formed and laws were codified.. Ferdinand Pecora was one of the first SEC Commissioners.

The present Chairwoman of the SEC is Mary Jo White. She also has a background in New York of prosecuting gangsters and terrorists. Like Pecora she plays hardball. But it still remains difficult if not impossible to get higher - ups in Wall Street banks to get and win criminal indictments. J P Morgan's Jamie Dimon is poster boy for the rogues on Wall Street. At the present time , his bank is subject to over 25 different major law suits related to the financial melt down.Collectively they add up to the profile of a criminal enterprise. The bank should be prosecuted under RICO statutes.But that won't happen because of the realities of our legal system and the political power of Wall Street firms..

But there is an old fashioned way to get rid of Dimon and others like him. Harass him.Annoy him. Roust him.Bother him. To that purpose Mary Jo White should routinely invite/deman Jamie dimon come to her office for short questions.The meetings could only be for a half hour. But people like Jamie Dimon will fume. He won't tolerate being shoved around by a five foot , smart, pugnacious woman who can make trouble for him if he doesn't show manners.He didn't become Chairman of J P Morgan for this kind of treatment.

Citigroup Wins in Trading Markets

Citigroup reported a $4.5 billion profit in its latest quarter. It was due largely to trading profits from its brokerage division. Is this a way to run a banking institution? Bank depositors have to carry the burden of hoping their bankers guess correctly when trading stocks, bonds and financial instruments. If not then the deposits end up in someone else's pocket.

Citigroup Wants To Concentrate On Emerging Markets

Today Citigroup's CEO Vikram Pandit was talking up the prospects of his bank. He said it would soon be profitable. He also said that going forward he wanted to concentrate his banks activities and loan portfolio in favor of "emerging markets".

One of the problems with America's weak recovery is a lack of credit that is available to small and large business. Also this is the same bank that received over $45 billion from the American taxpayor. But he wants to go to Asia with his best efforts. 

Go to hell Citigroup.

CIT Failure Would Be Mistake

Ignoring CIT and the small/medium size business' it serves would be a tactical and financial mistake by the Obama Administration. It would be a breaking of faith with small and medium sized business. These are the job creators in the past, now and in the future. The app. 1,000,000 accounts that CIT serves would not easily, if at all find a replacement. Big bank business models are not geared for CIT-type accounts. Consequently bankrupties would follow for some of those accounts and include others in their greater spheres of influence.

The chump change of $4 billion that CIT needs is relatively nothing compared to the hundreds of billions that already have gone out the window to the constructive criminals at AIG,B of A, Citigroup, GM and Chrysler. Small business built this country. Small business owners ran for office . Now many of our politicians are lawyers or people who never had a real job. This results in leadership that doesn't get it or worse get it but are paid to ignore it.

Halliburton & Citigroup: Poor Results For Their Greedy CEOs

Halliburton and Citigroup are stocks that symbolize the criminal greed of the past 8 years. Halliburton represents war for profits. Dick Cheney was its CEO before he was sworn in as Veep in 2001. Using his position of power and the life-long relationship he had with Secretary Of Defense Donald Rumsfeld, Halliburton was awarded no-bid contracts in Afghanistan and in Iraq. I think the war in Iraq was largely for Halliburtons benefit along with other war for profit companies.

How did the stock do in these past 8 years ? Well Halliburton was trading at $19.00 when Cheney was sworn in and now the stock trades at $16.00. So after 4200 American lives, app. 1,500,000 Iraqi lives, 2,500,000 displaced Iraqis and app. $750,000,000,000 and counting in war expenditures and 2 or 3 adjustments to asshole Cheney's heart regulator the stock is down app. 16%. How stupid can some monkeys be?

And then there's Citigroup. Under the direction of former CEO Sanford Weill who took the reins in 1998 when the stock was trading at $25.00 Weill used his connections and money to repeal the Depression- era Glass-Steagall Act which mandated a seperation of stock brokers and insurance companies with banks. The Wall Street meltdown is directly traced to the repeal of this Depression-era firewall banking act. Citigroup's stock was trding at $25.00 when Weill slid in to power. Now Citigroup trdes at $ 8.50. That's almost 60% less in value.

A quiet retirement for these 2 assholes is not what they deserve.

Thursday Morning With Dick And George

Early Thursday morning Dick Cheney bolts into the private quarters of George and Laura Bush. Laura is munching on a cold pizza and reading a tabloid. She doesn't notice Dick. Bush is snoring loudly from under his pillow.

Cheney almost yelling, " Get up you worthless son of a bitch. You got a speech to make ".

Bush flips him the middle finger and asks, " What speech you fat fuck, chosen people or lower taxes?"

Now Cheney is red in the face, " It's the ' I really mean to bomb Iran' speech, you little jerk monkey".

Bush with a particularly dense-look, " Didn't I do that yesterday?".

Cheney in a panic, " Yeah but the market is down over 200. Goldman Sachs just advised clients to sell General Motors, Citigroup and Wall Street brokers. Ya can't trust those filthy Yankees and Jews at that kike firm. Next they will advise sales on Halliburton and the military-industrial complex. We've got to beat the war drums."

Now an anxious Bush fires, " Gee why did'nt you tell me earlier? Hey Dick when I'm out of here can I still have that Dairy Queen in El Paso?"

"You fuckin' useful idiot, of course you can. But don't look for me or Rummy or your pickaninny to come by . Get dressed".

Another Banking & Brokers Crisis: Can't Learn If Can't Remember.

In 1999 during Clinton's tenure of office The Glass-Steagal Act (a.k.a. Banking Act of 1935) was repealed by the republican controlled Congress . The repeal was pushed by Federal Reserve Chairman Alan Greenspan and Citigroup's Chairman Sandy Weil, Secretary Of Treasury Robert Rubin who left government after Glass-Steagall repeal and joined Citigroup and Bill Clinton. The repeal let banks back into the brokerage business. Let Citigroup back into the securities business is an understatement. It was Citigroup's Smith Barney's unit that was part of the fraud at Worldcom that cost investors $ 150 billion in losses. It seems that Sandy and Robert and Smith Barney anaylist Jack Grubman just can't play it straight. The three should have gone to prison.

Banks by nature should be safe and secure. Brokers by nature are anything but safe and secure.Citigroups stock since reentering the brokerage and related security dealings has plunged from $56.00 per share to $19.00. Today Bear Stearns collapsed from a 14 month high of $170.00 per share and was acquired by JP Morgan Chase for $ 2.00 per share. Hello? Anyone remember why the depression-era banking reform legislation happened? What was dumb and risky for the banks in the 1920's and 1930's is still dumb and risky.

Also " Character is fate", acording to the 6th century B.C. Greek philosopher Heraclitus. That hasn't changed either.

U.S.- Style Democracy & Banks Need Foreign Money And Help To Survive

Why are some pundits so upset about Citigroup, Merrill Lynch and other major financial instutions giving up significant ownership stakes in exchange for desperately needed cash infusions from China, Saudi Arabia, Singapore and other foreign countries?

Would the pundits rather these countries refuse to help? The pundits say it's a matter of principle. Gee then wht's the principle that allows app. 12 million illegals to live in the U.S. in a relatively pampered state of care including allowing some to vote? America prints money like Disney's Sorcerer's Apprentice to underwrite it's false " all are equal" philosophy. So multinationals need China's cheap labor to prosper and pay taxes so our government can support a welfare system for the " equals"who are chronically unemployed or under employed.

If we as a country want to get serious about who owns America and who has rights in America then we will have to get serious about rights being tied to performance. NO FREE LUNCH AND THAT INCLUDES CORPORATE WELFARE .

CEO Severance Pay Package Abuse And Prediction

Ex-Citigroup CEO Charles Prince will walk away with a $100 million severance pay package for his part in the $ 13 billion and counting, subprime mess at the bank. He's the latest example of the non-logical policy of paying big cash awards to failed leadership in the executive suites, which include ousted CEOs at Time-Warner, Home Depot, Merrill Lynch and Freddie Mac.

Will there ever be a return of meritocracy? I predict that if this is the best performance that money can buy then the future winners and survivors will be based on a non-monetary system, E.G. barter system, religious and/or tribal groups. These systems/groups can't afford to lose.