In stead of listening to their nice words – look at their deeds.

Left: JP Morgan. Right: The pirate Henry Morgan. The only difference between them is the quantity of their hair.
Both were/are honoured by their governments  for enriching themselves leaving lots of ruined human destinies behind them.

Global Research Oct. 11, 2008
“The winners of financial warfare are JP Morgan Chase and Bank America. They have used the financial crisis to displace and/or take over rival financial institutions. The concentration of wealth and the centralization of  financial power resulting from market manipulation is unprecedented.”

Here are accounts of how JP Morgan, a leading name behind the Federal Reserve, and  The Council on Foreign Relations, as well as the Wall Street Crash in 1929, was so well prepared for the current crisis that it came out of it much richer than when it started, indicating insider knowledge. In 1929 JP Morgan had insider knowledge about the coming crisis – for he, Paul Warburg, and John Rockefeller triggered the Crash on “Black Thursday”.

Bloomberg 27 Oct. 2008

Using derivatives, JPMorgan pitched a host of deals whose names alone are indecipherable. For Philadelphia International Airport, the bank sold something called a “path-dependent knock-out swaption!”

Motivated by overwhelming greed,
Wall Street thrashed around creating financing structures divorced from reality and good sense — and paid lots of people way too much money,” he says.

While JPMorgan has been relatively unscathed by the subprime crisis
that hit Bear Stearns Cos., Merrill Lynch & Co., Lehman and other Wall Street firms, a little-known part of the largest bank in the U.S. made a tidy profit peddling a different kind of corrosive debt to hundreds of counties and school districts earlier this decade.
As the credit crunch froze lending globally, causing stock markets to plunge, local officials who say they trusted JPMorgan faced a crisis of their own.  Financings arranged by JPMorgan and other banks are forcing hundreds of public agencies to spend billions of dollars they don’t have to pay for increased interest payments and penalties.

JP Morgan Chase Bank´s CEO, James Dimon

These come in municipal bond and derivative deals that have turned poisonous. Unlike JPMorgan, which has benefited from federal bailouts, the towns and schools the bank has financed have received no help from Washington.

1. Joseph Ambrosini says the deal looked so easy.
JPMorgan Chase & Co. bankers told him there was really no risk.
On Sept. 25, the week after Lehman Brothers Holdings Inc. collapsed, the New Castle Area School District’s interest rate on $9.7 million of financing arranged by JPMorgan hit 10.6 percent, more than doubling since the month began.

Phil  Many municipalities, including Butler County, Jefferson County and Philadelphia, hired financial advisers to analyze prices, fees and interest rates to determine whether swap contracts were fair. They turned out to be paid by JP Morgan!!

2. In Erie,
JPMorgan recommended Pottstown, Pennsylvania- based IMAGE to be the school district’s independent financial adviser. During a Sept. 4, 2003, meeting of the Erie City School District’s board, JPMorgan banker David DiCarlo praised the firm.

In Erie, Pennsylvania, JPMorgan gave the school district $755,000 upfront and collected $1.2 million in fees.
IMAGE never disclosed JPMorgan’s fee. Neither did the bank.

JPMorgan took a fee of $1.23 million, according to data compiled by Bloomberg.
That’s almost 10 times the fair rate.

Freedom from Chase fees
See this “Revolutionizing Beggars´opera“.

If you have been victimized by JPMorgan Chase Bank, its officers or employees, please email us or telephone (202) 370-6291

3. Nowhere have JPMorgan’s derivative deals wreaked more havoc than in Jefferson County, Alabama.
The county has $5.4 billion in swaps on its books - the most of any county in the U.S. Jefferson County said it couldn’t make its $84 million interest payment on Oct. 1. JPMorgan and other creditors gave it a month to come up with a plan to rework its debts.

In “The Banks That Fleeced Alabama” (September 2005), Bloomberg Markets Magazine reported that JPMorgan overcharged the county by $45 million on its derivative deals.
The interest rate Jefferson County must pay on its bonds jumped as high as 10 percent in February from about 3 percent two months earlier.

Clarence Arnold, who lives in Birmingham on $738 a month from Social Security, worries that people like him will wind up paying the bill.
“It’s going to end up in our hands. It always does.”

Picture by David Dees

The county paid JPMorgan and a group of banks $120.2 million in fees for derivatives that were supposed to protect it from the risk of rising interest rates.
Those fees were about $100 million more than they should have been based on prevailing rates.

JPMorgan and seven other banks in the deals were left holding most of the bonds after credit markets froze in early 2008. The banks asked to get paid back with county tax money or higher sewer fees. Such proposals caused a public outcry.

The New York Times,  4 Sept. 2008: JP Morgan holds $2.5 billion of Jefferson County’s swaps, The county now owes $250 million on the swaps - much of that to JP Morgan.

JP Morgan Chase & Co. is the target of a federal investigation into practices in the municipal swaps business.

4. In the midst of the Wall Street collapse, JPMorgan and Jamie Dimon (CEO and President of the US Financial Services Round Table) JP Morgans Chase Bank ´s  chief executive officer, have stood as pillars.
a. The Federal Reserve bailed out a tumbling Bear Stearns (which was, in fact, solvent!!!) in March, as the U.S. Treasury pledged $29 billion to Dimon’s firm to cover losses.

b. In October, JPMorgan took over failing Washington Mutual Inc.,

Criminal Investigation
The muni derivatives unit has become snarled in the largest-ever criminal investigation of public finance by the Department of Justice.

Prosecutors have informed at least five former JPMorgan derivative bankers that they’re targets in an investigation of whether banks conspired to overcharge local governments.

5. In April 2002, Philadelphia International Airport got $6.5 million from JPMorgan.
In June 2008, the interest rate on the floating-rate bonds the airport issued surged to 7.2 percent from 1.8 percent the week before
Based on prices at the end of September, termination would cost Philadelphia about $24.4 million, according to the city. That’s almost $20 million more than what it received in 2002.

6. In September 2003,  Butler Area School District got $730,000 from JPMorgan.
The bank made $894,000 at the same time
.

The district alleged that JPMorgan to hide the fees and push the district into an unfair trade. As of mid-October, JPMorgan hadn’t filed a court response.

In July, JPMorgan told the school district it would exercise the option on Oct. 1. That would lock the district into potentially huge interest rate increases. So the district paid JPMorgan $5.2 million to walk away, seven times more than the bank paid it in 2003.

Washington turned down a request for help.

Comment
This is so striking that you have to ask the question posed in every criminal case: Who profits from the crime- in this case the current financial crisis?
For he is probably the its instigator.
As John D. Rockefeller I said: “Competition is a sin!”

Right: Emperor John D. Rockefeller I

This is the morals of the people behind the New World Order.
JP Morgan is Rothschild´s US agent. It is the morals of John D. Rockefeller´s and Rothschild´s, of CFR-member George Soros´, who is now an EU partner: EU Commissioner Olli Rehn, 18 Apr. 2008 at an EAEA (EU Commission NGO partner) meeting in Brussels:” For instance, in the former Yugoslav Republic of Macedonia, the Open Society Institute - whose founder George Soros will speak right after me -   - opened 12 centres around the country to support NGOs in their networking and communication activities. EU financed 8 of those centres, in socially and economically deprived areas of the country.”

This is the morals of these illuminists planning to rule the world.

Do you still not care about the New World Order, so often mentioned by Gordon Brown, Pres. Bush Sen., Henry Kissinger, Gorbachev, Barroso and many others (see the right border of this blog)?