— Better Markets (@Bettermarkets) March 27, 2015
The Too Big To Fail banks are none too pleased with Senator Elizabeth Warren’s call to break them up so they no longer pose a systemic risk to the financial system and economy. According to a report Reuters, the banksters are now telling officials in the Democratic Party that they will withhold campaign contributions if the party does not distance itself from progressive positions on financial reform.
The message was intended to isolate Senators Warren (D-Mass), Brown (D-OH), and any others in the Democratic Party who stand against Wall Street being above the law, beyond regulation, and always guaranteed a bailout.
Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party’s tone toward Wall Street, sources familiar with the discussions said this week.
Bank officials said the idea of withholding donations was not discussed at a meeting of the four banks in Washington but it has been raised in one-on-one conversations between representatives of some of them. However, there was no agreement on coordinating any action, and each bank is making its own decision, they said.
The banksters did however say that they had no problem with Hillary Clinton and were planning on donating to her campaign – shocking.
JPMorgan in particular seemed to be throwing its weight around and has reportedly only donated a third of its usual annual contribution to the Democratic Party. JPM has faced numerous civil fines from the Obama Justice Department and still faces the possibility of a criminal prosecution until the statute of limitations kicks in later this year.
Maybe JPM is waiting until the Democratic White House let’s them off the hook before giving the party their bribes.