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Friday, April 15, 2016

The Fed Sends a Frightening Letter to JPMorgan and Corporate Media Yawns

http://wallstreetonparade.com/2016/04/the-fed-sends-a-frightening-letter-to-jpmorgan-and-corporate-media-yawns/

Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system.

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