With Congress finally taking time from its busy scehedule of Kabuki theater on March 15 to hold hearings on J.P. Morgan, and their evidenced fraud and deceipt in the markets, it is vastl important to understand and realize that like Jon Corzine and MF Global, or Angelo Mozzilo and Countrywide, all this blustering by the politicians will in the end, accomplish nothing.
Why? Because a large portion of these same politicans are bought and paid for by J.P. Morgan, and their massive lobby efforts in Congress.
And of course, all one has to do is look at the biggest villain of corporate largesse, and the one Wall Street owns lock, stock, and barrel. None other than Democratic Senator from New York, Chuck Schumer.
Remember these numbers when you watch the Senate today appear to throw hardball questions at the current and former executives of J.P. Morgan, and know that when its done, each one will be laughing all the way to the bank.