Every American should read this article that exposes the cozy relationship between big banks and government – thanks daytrip for sending!
http://www.rollingstone.com/
An excerpt:
One mortgage in particular that sticks out in Fleischmann’s mind involved a manicurist who claimed to have an annual income of $117,000. Fleischmann figured that even working seven days a week, this woman would have needed to work 488 days a year to make that much. “And that’s with no overhead,” Fleischmann says. “It wasn’t possible.”
Corruption is discusting.
There’s a reason Mexico sucks.
And over on Twitter last year, JPMorgan Chase was silly enough to think having a VP engage in a live question and-answer on Twitter–under the hash tag #AskJP–was a perfect PR move; especially as it was the same time they were about to pay one of the biggest settlements in history.
From JPM: 11/14/2013 “What career advice would you ask a leading exec at a global firm? Tweet a Q using #AskJPM. On 11/14 a $JPM leader takes over @JPMorgan”
They received countless, sarcastic questions that didn’t even have to stretch the truth. It was so bad, it was cancelled but not before an onslaught of truth came back to them using the very hash tag the bank had suggested.
My favorite Q was:”I have Mortgage Fraud, Market Manipulation, Credit Card Abuse, Libor Rigging and Predatory Lending AM I DIVERSIFIED? #AskJPM
As I’ve always said, when your Denny’s waitress shares stock tips, or the best place to buy a condo, it’s time to to take a hard look at your portfolio, and start liquidating.