Example 1: JPM made more money than it paid out for Erie, Pennsylvania School District=
School Got = $755,000 and JPM collected $1.2 million in fees.
Example 2: JPM made over $4 Million on Philadelphia Intern Airport $6.5 Million Derivative
In SEC testimony “They’re about getting fees and getting the most fees they can get.” that is 10 X Cost of a bond issue. JPM bankers then gave $280,000 to Airport Executive’s school district for signing Contract.
Five JPM derivative bankers are targets in investigation of banks conspiracy to overcharge local governments!
How Fees Are Hidden: JPM locked in FEES selling a Mirror-Image Swap Contract on open market for MUCH Higher Amount.
FEES are hidden in Derivatives and then skimmed into the pockets to maximize Employee incomes?
JPM made that a common practice (FBI Case) and we know G0LDMAN does it also!
JPM+G0LDMAN routinely Hides fees for Derivative Contracts public records show.
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HOW HIDDEN FEES IN DERIVATIVES SCAMS WERE USED TO STEAL THE FUTURE
- VERIFIED BY FBI investigation of JPM!
Having worked with CPA’s and Managers Building Complex Math Models all my life I have some insight into what Bankers and their PhDs did in creating LUCRATIVE DERIVATIVES! Retired now!
Question Bankers had was how to increase Salaries/Bonuses to $Tens/Hundreds of Millions using Derivatives.
Buying&Repackaging&Selling mortgages could not provide enough PROFIT MARGIN for MASSIVE INCOMES!
Bankers decided to “STEAL the FUTURE” using statistical+mathematical Projections of Housing Hyper-Inflation (2003-06 PEAK)!
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HOW Banksters stole OUR FUTURE!
Look under the HOOD of a Derivative= a bunch of mortgages sliced and packaged together+HIDDEN FEES
1. Used Math Models to Project Housing Hyper-Inflation 2003-2006 forward TEN+Years.
2. Add Projected Growth in Fees to Cost of Derivatives-Capturing FUTURE GAINS.
3. SKIM off FEES into Executive/Employee Incomes!
4. Sell FEE Laden High Risk Derivatives as Fake Rated “AAA” Low Risk paper.
Derivative begin life at say 50% of FACE VALUE (projected hyper-inflated future value)
Reason Derivatives are worth Near ZERO after housing dropped less than 50%.
Derivatives should be worth 50% but NO! NEAR ZERO!
Simple Models to STEAL AMERICA’S FUTURE resulted in Hidden “Off-Balance-Sheet” Toxic Derivatives according to 0ffice of Comptroller of Currency, 0CC, quarterly Report:
1 JPM0RGAN $81TRILLION in Toxic Derivatives
2 BofA $78TRILLION
3 G0LDMAN $48TRILLION
4 M0RGAN $39TRILLION
5 C1T1GROUP $32TRILLION
