By Richard Eskow/Campaign for America's Future
Four years after Wall Street’s malfeasance dealt a telling blow the economy, and long after tens of billions of dollars have been paid out for banker fraud, reports say that we’re about to see the first arrests of Wall Street bank employees. What’s more, the suspects work at JPMorgan Chase – a banks which, ironically enough, politicians and pundits insisted was the “good bank” after the financial crisis hit in 2008.
In fact, Chase CEO Jamie Dimon spent years speaking out forcefully against additional bank regulation. (Lately, not so much …)
Financial cases can seem complicated. What should we think about these recent announcements in the “London Whale” case?
It’s good that they’re finally making arrests.
Despite the overwhelming evidence of criminal behavior in a large number of cases, this will have been the first time since the financial crisis that a banker’s been arrested on criminal charges (assuming the arrests take place as planned, of course.)
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