Posted Jan 24, 2014 by Martin Armstrong
Attorney General Eric Holder claims no bank is too big to indict citing the fines he got from J.P. Morgan, reported by Reuters. But those are fines, not a criminal indictment of the bank that has shut such institutions down. When they actually go after Goldman Sachs then we can perhaps believe him. They are going after fines – absolutely. They need the money. But to actually put a bank down as they did to Drexel Burnham with Michael Milken resulting in over 50,000 people losing their jobs – oh sorry I forgot. Drexel competed with NYC it was a Philadelphia firm. Then there was REFCO, the largest commodity firm also destroyed by criminal indictment. But that was a Chicago firm. All prosecutions protect New York. Sorry – point to just one NYC major firm destroyed by indictment – just one in the past 30 years!