The nation’s top 1% of households own more than half the nation’s stocks, according to the Federal Reserve. They also control more than $16 trillion in wealth — more than the bottom 90%.
1. They are all created by “disruptive technology-driven productivity gains, creative financial innovation, capitalist friendly cooperative governments, immigrants…the rule of law and patenting inventions. Often these wealth waves involve great complexity exploited best by the rich and educated of the time.”
2. There is no “average” consumer in Plutonomies. There is only the rich “and everyone else.” The rich account for a disproportionate chunk of the economy, while the non-rich account for “surprisingly small bites of the national pie.” Kapur estimates that in 2005, the richest 20% may have been responsible for 60% of total spending.
3. Plutonomies are likely to grow in the future, fed by capitalist-friendly governments, more technology-driven productivity and globalization.

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....the smell of the Weimar is in the air...

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The current statement proposed in this article by Jamie Dimon, CEO & Chairman: "With the credit crisis largely behind us and the economy recovering..." How could this statement be proposed as the truth? It is clear that this statement only serves as a cover up of the corruption present in our current banking system because it is conflicting with the FDIC's published need for more money.

In fact, less than 2 days ago the FDIC claimed that it will need a minimum of an additional $100 billion to bail out more failing banks - The banking industry is still in deep trouble and the bankers (who are rewarding themselves with hundreds of millions of dollars in bonuses) are largely to blame for this financial collapse.

Solutions need to be identified to address these ongoing unresolved problems. STOP confusing the readers with misleading information. The quick solution for the big banks has been to take hundreds of billions in taxpayer money to bail them out of the financial chaos they created....but, who is bailing us - the citizen - out?

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Chase bank has stalled my loan modification as well
as thousands of others, but continues to make rash
statements that the economy is getting better. This
is a wrong assumption while homeowners that they
represent are not getting the service they need as
ordered by the President of the United States. Someone
needs to get going on following orders.

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Willipeople to do anything. The President is the head of the executive branch of government.The president cant order civilian institutions to do anything. He is the leader of our country but is only 1 part of 3 ie. executive, judicial & legislative branches of government. As far Mr. Dimon & JPMC go, They were financially solvent in the banking crisis & were forced to accept bailout funds in order to keep the playing field equal. They are now poised to entirely payoff (if they haven't already done so) all bailout funds. Mr Dimon has in my nearly 10 years of peripheral knowledge & interest in his buisness management, has been steadfastly moral & law abiding in his managment of 1 of the worlds largest financial institutions.

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someone please explain to me how this crisis is over.

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I think he was talking about his credit crisis not the real world.

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It seems to be the same every where BofA is behind processing theirs as well. It's the waiting game till the deadline runs out and they can quick foreclose and keep the bailout money. There was a conversation overherd the other day where two BofA exec's were discussing the plan at a taco shop in Manhattan.

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For you information look on www.law360.com and you can get the latest and oldest skinny on all the banks.

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Our Bailout money is also going to all these high priced lawers the banks have to hire to defend all the shady deals they have been doing. The amout of litigation they face is astornomical.
I preddict BofA, Chase and Citi Bank will be short lived if they don't get back to basics and honesty fast. They all need a royal flushing from within.

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Did anyone else get the impression that there are too many executives? It's like reading a Russian novel. I can't keep track of the characters.

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The bankers and Wall Street continuously spew out false statements that the economic crisis is over thinking that they can get people to invest in their corrupt maze of investments. They will soften the public up get them to invest in wall street, and then pull the rug out once again in a few years.

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Chase is a Rockefeller institution and Rothchild controlled most of JP Morgan-he only owned about 18%. David Rockefeller former CEO and Chairman of Chase who heads up CFR, Trilateral, the Council of the America's and Bilderburg? Yeah the banksters still run the show here and he had Dick Cheney as director at CFR and Obama's chief foreign policy advisor -co-founder of the Trilateral Commision. We're screwed, the banksters just stole about 24 TRILLION and guess who set this baloney all up? Who controls the FED/IRS scam? The media? the "government"? The money men who create money out of thin air with fractionalized banking then come upwith new schemes using derivative contracts to control markets and take out opposition like Lehman and Bear Stearns and half the global economy. Capitalism is just moneyism and as Meyer Lansky said""America is just about money"-he financed Las Vegas with the Teamster's Pension fund money. We're run by loan shark gangsters who now control all the money, business, government, the IRS, etc. Crooks run everything and I've met a few of them. All in all I liked the Italian mob the best as they have a little more heart for the little people and like good food. I pulled all my business out of JP Morgan Chase as they are only interested in global crimes not the little guy-they rob them! Back to Hollywood Insider!

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Wamu TRUTH...


READ THESE COURT DOCUMENTS!

JPMorgan admits that the FDIC took over a solvent bank in one of the latest court documents...

I'm enclosing a few more documents filed through the BK court in regards to a declaration of Thomas M. Blake (crai.com/ProfessionalStaff/listingdetails.aspx?id=1276 ).

The declaration can be found in 103-4.pdf at mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287
Quoting:
12. Based on my review to date, there is no indication that the OTS performed a solvency analysis consistent with the test for insolvency specified in the Bankruptcy Code. There is no indication that the OTS assessed the fair sale-able value of the assets of WMB (or WMI). Nor is there an indication that OTS compared the fair sale-able value of the assets of WMB (or WMI) to the total amount of either company’s respective liabilities. There is no indication that the OTS performed a comprehensive cash flow analysis of WMB (or WMI). Instead, the OTS found that “WMB met the well-capitalized standards through the date of receivership.”8 Thus, without a thorough analysis of the assets, liabilities and capital of WMI and WMB, it is not possible to come to a reliable conclusion concerning the financial solvency of either entity, whether on a consolidated or stand-alone basis.


Here is another document that says as of August 14, 2008:
"We propose to decapitalize WMBfsb by returning $20 billion of capital to its parent. The $20 billion will include the master note of approximately $7 billion, proceeds from $3.5 billion of Discount Notes and cash generated through additional wholesale deposits and advances from FHLB Seattle. We propose the payment of at least $10 billion by September 30, 2008 and the remaining $10 billion through December 2009."

"The net balance sheet of WMBfsb will be approximately $34 billion to $36 billion after Project Fillmore. The leverage ratio will decrease to 25% from 62%. A well-capitalized institution requires an 8% or higher leverage ratio."

Read reference page 45 of DOCUMENT 103-1.pdf from here:
mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287


Enclosed is a link to the affidavit of Doreen Logan who is the Controller/ Assistant Treasurer of Wamu who states that there was no liquidity problems;

http://www.google.com/search?hl=en&ie=ISO-8859-1&q=%20Ex.%20D%20to%20Affidavit%20of%20Doreen%20Logan%20%28%201%20/07-3/08%20Account%20Statements%29%20A-46%20...&btnG=Search


Remember, WMBfsb was also taken from the holding company and sold to JMorgan/Chase with all of the other assets for only $1.88bil.....

Please, take some time and read these documents. They are a bit long but well worth the read. Don't you wonder why the main stream media doesn't mention the suppose "failure" of the largest financial institution in America? Wamu was a 100+ year old company.....Here is a link to all documents filed through the BK Court;

kccllc.net/wamu



Jamie Dimon planted "moles" in Wamu??? JPMorgan committed corporate fraud???

kccllc.net/documents/0812229/0812229090501000000000002.pdf


Wamu's claims against JPMorgan/Chase;

wmish.com/doc/gov/0603/JPM_V_WMI_-_ANSWER.PDF



I'm also enclosing another link that quotes Judge Hughes from a case against the FDIC that was wrapped up on August 24, 2005; http://blog.kir.com/archives/2005/08/judge_hughes_ha.asp

"The record shows that the swap was the only reason for this suit. It also shows that the FDIC knew that it had no factual or legal basis for its claims, and that its cases here and in Washington were shams."

As usual, Judge Hughes is acerbic in his opinion regarding the FDIC's conduct, noting in particular that FDIC officials "lied about it all under oath" and they "discarded the mantle of the American Republic for the cloak of a secret society of extortionists."

"It's hard to find a word that captures the essence of the FDIC's bringing this action. Irresponsible is close. Arbitrary, dishonest, exploitative, extortionate, and abusive all fit."

Judge Hughes concluded that Hurwitz and Maxxam "will recover their costs because the record reveals corrupt individuals within a corrupt agency with corrupt influences on it, bringing this litigation."



wamustory.com
wamuqd.com
wamu-shareholders-resources.com/wamued.html
wamuequity.org/history.html
wamucoup.com

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Good Riddance.......From us millions of U.S. taxpayers and Chase credit card holders you have screwed. Do us all a favor retire and get lost on a undisclosed island.

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