Does Henry Blodget's Business Insider Report Fairly About Bank Crime and the Vatican?

There is an ongoing dispute with Henry Blodget, owner of Business Insider regarding the criminal activity of selling bogus mortgage backed securities by the big banks to investors. The selling of those resulted in lots of funding for easy money liar loans and the like. With new emails coming out about JPM traders possibly knowing about how bad the loans were in the MBS, Blodget has reluctantly criticized the bankers.

Well now, Business Insider has reported on the Vatican money laundering scandal and has shown JP Morgan in a favorable light in these reports:

JPMorgan Shuts Down The Account Of The Vatican Bank Due To Lack Of Transparency

and

The U.S. Government Just Put The Vatican On A List Of Places Where It's Easy To Launder Money

 These articles are very easy on JPM, as most Business Insider articles are. We know that the Vatican is a sovereign nation, prone to corruption. [That is why, for religious folk, and even for non religous folk, separation of church and state is so important. Even Christ said His kingdom was not of this world, no doubt because his knowledge of the corruption of sovereign governments and super sovereign cross border financial corruption that has existed for the centuries.] But we also know that the TBTF banks are prone to corruption as well.

Apparently JP Morgan is more involved in money laundering than meets the eye if we can believe this report:

It is clear that JPMorgan is complicit in money-laundering in Europe with the Vatican, having abetted Vatican bank money-laundering and fraud by allowing IRS-defined suspicious transactions pass through their institution....

 

My issue with Business Insider is that the blog tends to lean toward the bankers favorably, and should be doing more detailed research, IMO, to recover wrong doing on the part of the banksters.

 


 

 


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