“Even though many readers have already read Matt Taibbi’s new article on how Attorney General Eric Holder acceded to Jamie Dimon’s efforts to squelch a criminal prosecution of JP Morgan’s securitization of toxic mortgages, I thought it would be useful to present the Democracy Now discussion of the story, particularly since the whistleblower, Alayne Fleischmann, discusses the case in her own words. Amy Goodman also asks Tabbi late in the broadcast about his departure from First Look.” –nakedcapitalism.com
Matt Taibbi has returned to the Rolling Stone and his first piece out the door is on the real story behind the fake $13 billion settlement with JP Morgan Chase deal to cover up alleged criminal activity sanctioned by Eric Holder and the Department of Justice. Taibbi had to leave First Look media where he found himself in a clash with the executives, who by and large come from a highly structured Silicon Valley corporate environment. When it comes to the free press, there are journalists who would love to write the truth, but that ends up in a battle with management who may have their own favors and deals behind the curtain.
Those fiercely independent journalists view corporate cultures and management with disdain. It is management that blocks the free press in this country. First Look media was supposed to court the independent journalists. The problem, they still bring in the corporate structure that destroys the independence. This is simply the fate of such entities. Look at Apple. They throw out the guy who creates it in their arrogance that such people do not know how to run a company. Then they destroy the creativity and all the lawyers and bean counters cannot create anything but structure. There lies the oxymoron. Then companies have to takeover start-ups paying billions of dollars because the board lacks creativity or any comprehension how to create it from scratch.
Taibbi’s first piece back at Rolling Stone is spot on. However, Taibbi has not yet dug deep enough into the REAL court system in New York City. He mentions how JP Morgan Chase was able to squash access to Alayne Fleischmann in a private suit filed in NYC against Chase. He wrote:
“…Dorothy Spenner, an attorney representing Chase, told the court that Fleischmann was not a ”relevant custodian.” In other words, she couldn’t testify to anything of importance. Federal Magistrate Judge James C. Francis IV took Chase’s lawyers at their word and rejected the Fort Worth retirees’ (Pension Fund) request for access to Fleischmann and her evidence.”
$9 Billion Dollar Witness