Tag: jpm

Global banks beginning to fear unruly peasants

“In a gentle way, you can shake the world.”

– Mohandas Gandhi

 The global mega-banks may control our politicians, but they don’t control the public.

All around the world the recently subservient serfs are causing all sorts of trouble for the ruling oligarchy.

 That trouble could start as early as tomorrow.

 Bank managers across France were waiting a little nervously for the start of business on Tuesday after the former football star Eric Cantona urged his compatriots to stage a bank run and trigger a revolution.

 Around 40,000 people in France have pledged to withdraw their money from the banks tomorrow. Another 9,000 in UK have pledged to do the same.

  You can find the organization’s web site at bankrun2010.com.

 Of course this is just one of the many grassroots revolts underway in the world.

JP Morgan Chase to get yet another taxpayer bailout

  Most people are under the false assumption that the taxpayer bailout of Wall Street banks began and ended with TARP. They couldn’t be more wrong.

  The Wall Street bank bailout began with Federal Reserve subsidies in December 2007, and has continued in one form or another right up to now.

 J.P. Morgan Chase & Co. is nearing a deal that would allow it to benefit from a tax refund of as much as $1.4 billion, becoming the latest company to tap a little-noticed plank in an economic stimulus bill.

  That law let companies apply losses from 2008 or 2009 against taxes paid in the previous five years, instead of the previous two years.