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Rolling Stone: The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare


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Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking
By Matt Taibbi  | November 6, 2014

She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn't take it anymore. 

"It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'" 


Fleischmann is a tall, thin, quick-witted securities lawyer in her late thirties, with long blond hair, pale-blue eyes and an infectious sense of humor that has survived some very tough times. She's had to struggle to find work despite some striking skills and qualifications, a common symptom of a not-so-common condition called being a whistle-blower.

Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing.


Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the bank's mortgage operations.


Thanks to a confidentiality agreement, she's kept her mouth shut since then. "My closest family and friends don't know what I've been living with," she says. "Even my brother will only find out for the first time when he sees this interview." 




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I'm proud it's a good Canadian girl doing this.

Those criminals need to go to jail, mandatory minimum sentences don't work for petty crimes or lifetime criminals, but they would do wonders for white collar crime. Most executives wouldn't be able to work again with a conviction & time served so it would serve as a good deterant.

You just need to make am example of one to send the message, I say fry this Dimon prick, 5 years in the clink for wire fraud.

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This seems to me like one of those issues where neither party will do the right thing.


Yeah, but one of the parties have been telling me for the majority of my life the thing that is really important is the Wall Street/the wealthy.


With them, you at least get what you expect.


If you are a Democrat, and you can't talk about obvious Wall Street corruption and obviously increasing wealth inequality in an intelligent, passionate, and sincere way you should lose elections.

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By far the biggest failure of the Obama administration was/is the lack of punishment post-financial collapse. 


Yeah, I supported President Obama for 2008 and 2012, but hard to give him a passing grade when he dropped the ball on perhaps one of the most important issues of our generation.  Wall Street's criminal activity under Bush Administration and a slap on the wrist during Obama Administration means both parties are to blame.  One might even say that Obama Administration deserves the bigger blame because they actually knew the extent of the corrupt and criminal activity and decided to look the other way.  Next time Wall Street comes up with a new version of S&L or subprime mortgage, the blood is on the hands of both parties.  Until actual decision makers at the top start going to jail, these activities won't stop.  I so badly wish for a viable third party.

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They just need to put Elizabeth Warren in charge of bringing these crimes to trial and get out of her way. No way that ever happens though. To much money involved to keep it from happening.



Is there some reason for believing she does more than talk?

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