Wednesday, January 8, 2014

The Madoff Trustee Makes the Case; the Justice Department Collects the Money

Click here to access article by Pam Martens from Wall Street on Parade.

Thanks again to Martens whose reporting sheds much light on how the Wall Street/financial centers of the US Empire function. In this unusual Department of Justice case against JP Morgan, a global financial services firm whose executives are highly influential in all matters of the Empire, it was found that many large investors were duped by Madoff's pyramid scheme in collaboration with JP Morgan executives. People who facilitated this scheme ought to have gone to jail. Instead, JP Morgan pays a fine and the executives aren't even mentioned in the settlement. 

This case illustrates a lot about justice in the USA. Justice, like everything else in this capitalist country, is class based. It is only when other capitalists are threatened that the wheels of justice turn, but they turn carefully to avoid bringing any capitalists to justice.