Gerald Celente calls out Jamie "Two-Bit" Dimon and his financial crime syndicate
Jamie Dimon, CEO of America’s largest bank by assets is downplaying the impact of the $2 billion loss that JP Morgan recorded from its risky bets, the loss that turned out NOT to be the tempest in a teapot he had previously blown it off as. Dimon said the bank will still earn a lot of money this quarter. Banks are supposed to earn money by helping the economy grow. Making money while the rest of the economy suffers isn’t earning money, it’s extracting it, stealing it – a theme we see on both sides of the Atlantic. From bank bailouts in the eurozone disguised as bailouts for societies to the casino capitalism of Wall Street banks disguised as legitimate businesses. We speak to Gerald Celente, founder of Trends Research Institute and publisher of the Trends Journal about it all. Plus, the US Department of Justice can’t tell you how many criminals have been prosecuted in the financial crisis because they don’t keep track and a Facebook co-founder ditches his US citizenship for residency in Singapore. Demetri, Lauren and Shannon give you their two cents on today's Loose Change.