Why the ‘Bankruptcy’ of JP Morgan Chase is a Bubble, a Fraud, and a Crime
In a new analysis of JP and the rest of the global financial sector, the Bank of America Merrill Lynch & Co. says the global debt crisis will be resolved only by bringing the whole economy back to normalcy and restructuring the global economy to work for the most part for the public good.
The bank says that if the US economy is to recover, it must first restore its ability to generate a sustainable recovery.
The bank, however, does not predict the recovery to be sustainable in the short term and predicts that the economy will not be able to recover in the long term.
What we know about JP Morgan’s role in the global banking crisis:1.
JP Morgan was the primary culprit in the financial crisis, and is still responsible for more than half of the US debt owed by the public.2.
JP’s involvement in the crisis was the catalyst for the Great Recession.3.
JP is currently the largest U.S. bank, with more than $700 billion in assets under management, with over $2.7 trillion in assets outstanding.4.
JP has repeatedly tried to downplay the role it played in the Great Depression, arguing that the banking crisis was caused by the collapse of the financial system and the inability of regulators to control the banks.5.
JP says it is the only major U.