US Drops Criminal Charges Against JPM “London Whale” Traders As It Is “Unable To Extradite Them”

In the latest confirmation that pursuing justice against bankers has become a farce, the US just announced it has dropped criminal charges against two former JPMorgan “London Whale” traders because, get this, “the defendants live outside the country and have refused to defend themselves in New York, and efforts to extradite them have been unsuccessful.”… Read More US Drops Criminal Charges Against JPM “London Whale” Traders As It Is “Unable To Extradite Them”

Mafiosi Bankers: What the HBOS Fraud Tells Us About the State of British Banking

The bankers in question took a leaf out of Martin Scorsese’s classic movie, Goodfellas, in which Ray Liotta’s Henry Hill and Paul Sorvino’s Paul “Paulie” Cicero take over a night club, the Bamboo Lounge, then loot it, abuse the owner’s credit and run it into the ground. Once the owner, Sonny, is unable to pay them anymore, they torch it for the insurance money. … Read More Mafiosi Bankers: What the HBOS Fraud Tells Us About the State of British Banking