"Only Wall Street could be so brazen, the confidence that comes from widespread bribery. In no other field could a corporate officer decide to break the law and when questioned by the regulator scream at them about the law being wrong. If you are looking for more evidence that it’s the rich not the law that rules – now you have it. How dare the regulators try to regulate! Don’t they know Dimon is special? Don’t they know that Wall Street is above the law?
The Senate Committee released a damning report on JP Morgan’s conduct in the London Whale trade and apparent cover up. Of course, there won’t be any real consequences, not only does Wall Street get toshop for its regulators but in the event the regulator actually tries to enforce the law they get to bully them out of their position which the public will only learn about if the Senate has a hearing.
No fines, no jail time, just break the law and never back down and you can get that big bonus. Too Big To Fail and Too Big To Jail."