Special Article from Money Morning by Shah Gilani, Money Morning Editor’s note: In the past Shah revealed who regulates the TBTF banks and how those various agencies’ rules and regulations are administered to try to keep the banksters in line. Today Shah is going to shed light on the banks’ abuses and just how much …
by Guest Author Shah Gilani
Alabama’s Jefferson County filed for bankruptcy protection on Wednesday, making it the largest municipal bankruptcy in U.S. history.
But believe it or not, that’s not the biggest story here.
The big story is how J.P. Morgan Chase & Co. (NYSE:JPM) – specifically, J.P. Morgan’s Securities arm – has a filthy hand in the whole Jefferson County saga.
This isn’t breaking news. I’ve written about it before and so have others. You just may have missed it because the spin machine was so effective that the story got buried fairly quickly.