JPMorgan Reveals It Faces Criminal and Civil Inquiries

I guess those of us in the blogosphere aren't conspiracy theorists after all.  Call us conspiracy factists.

Of course, we already have seen this playbook.  JPMorgan will admit no wrongdoing, and pay the SEC a billion-dollar fine to make this go away.  No one goes to jail, victims are still screwed.  But hey, the SEC, the alleged watchdog, gets rewarded for looking the other way, enabling the crimes, and collects a nice fee to reward its incompetent regulators for doing nothing.

A shining example of free markets and capitalism at work.  Not.

http://dealbook.nytimes.com/2013/08/07/jpmorgan-reveals-it-faces-civil-and-criminal-inquiries/?emc=eta1&_r=0