William Engdahl: Allowing JPMorganChase to mediate between the Corrupt US rating agencies and the Finance Ministry is tantamount to letting the fox guard the henhouse

Дата публикации: 07.08.2013

The political scientist, the expert of the international initiative "Postglobalization " Frederick William Engdahl advised to the deputy minister of financeSergey Storcjak to be more attentive in a choice of advisers.

“Allowing JPMorganChase to mediate between the Corrupt US rating agencies and the Finance Ministry is tantamount to letting the fox guard the henhouse. JP MorganChase, one of the largest banks in the world, has been convicted of fraud countless times in recent years including illegally trying to hide a multi-billion dollar trading loss, fraud in the US municipal bond market, fraud in the bankruptcy of WorldCom, Mortgage Backed Securities fraud and the US Government is currently investigating MorganChase in a new criminal investigation”, reported Engdahl.

Expert made an accent on the fact that Morgan Chase regards itself "above the law." “It is one of the most corrupt of the corrupt Wall Street banks whose illegal dealings with the US credit rating agencies created the real estate fraud that collapsed the financial system in 2007. Mr Storchak would do well to pick his friends or advisors more carefully”, finalized political scientist.

Let's remind that the American bank JP Morgan Chase will advise the Ministry of Finance of the Russian Federation. The deputy minister of finance Sergey Storchak emphasized that JP Morgan adapts documents of the Ministry of Finance for rating agencies, will explain unclear places, will establish a continuous relation: "Details are yet known, it is the first experience — while it is necessary to guess only".

Источник публикации: Постглобализация