Monday, December 28, 2020

They're getting older in Japan

In 1963 there were only 153 Japanese who were at least 100 years old. Twenty-five years later there were 10,000. Now there are 80,000+, or about 1 in 1,500 people in Japan. Most (88%) of these centenarians are women.

Comparable figures for the U.S. are in the same range; 82,000+ in 2016. But there are 126,000,000 Japanese or about a third of our population of 326,000,000.



br>From our Florida correspondent

Thursday, December 17, 2020

Remember the Arab Spring

Listen to trees in the forests

This post is just a pointer to the "music" in forests around the world. It can be quite calming and beautiful. Click here to start the trail.

Thanks to our Florida correspondent.

We should be okay by January 2022

Youyang Gu does not appear to be someone who does not know what he is talking about. He holds a masters degree fom MIT and his site has been cited by the US Centers for Disease Control and Prevention (CDC) to help inform public health decision making. This is one of his charts.

Wednesday, December 16, 2020

Remember the blizzard of 1978?

As usual, the media is talking about tonight's storm as being the end of the world. This was another end-of-world storm:



Relax! This too will pass.

Is the OCC about to break the law?

The Office of the Comptroller of the Currency (OCC) has received a proposal from Figure Bank, N.A., part of the blockchain startup, Figure Technologies. The proposal would grant Figure Bank a bank charter that would allow it, as a national bank, to accept and hold deposits that lack federal deposit insurance. And, it was this lack of federal deposit insurance that triggered the bank runs and banks collapses that played a key role in ushering in the Great Depression.

Major banking organizations, such as the American Bankers Association, have petitioned the OCC to reject the petition. The organizations argue that Section 2 of the Federal Reserve Act does not permit national banks to offer uninsured deposits; to wit

“Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this chapter and shall thereupon be an insured bank under the Federal Deposit Insurance Act [12 U.S.C. § 1811 et seq.], and failure to do so shall subject such bank to the penalty provided by section 501a of this title.”

Dealing with racism in Ireland

Communicating with kangaroos

 

Tuesday, December 15, 2020

"SIX LITTLE STORIES"

{1} Once all villagers decided to pray for rain.  On the day of prayer the people gathered, but only one boy came with an umbrella. That's FAITH. 

 (2} When you throw babies in the air, they laugh because they know you will catch them. That's TRUST. 

{3} Every night we go to bed without any assurance of being alive the next morning, but still we set the alarms to wake up. That's HOPE. 

{4} We plan big things for tomorrow in spite of zero knowledge of the future. That's CONFIDENCE. 

{5} We see the world suffering, but still we get married and have children. That's LOVE. 

{6} On an old man's shirt was written a sentence 'I am not 80 years old; I am sweet 16 with 64 years of experience.' That's ATTITUDE. 

 Have a happy day and live your life like the six stories. When I was a child, I thought nap time was punishment. Now it's like a mini-vacation. 

GOOD FRIENDS ARE THE RARE JEWELS OF LIFE. DIFFICULT TO FIND AND IMPOSSIBLE TO REPLACE!

The above was sent by a childhood friend. It may seem a little corny to some. But there is a level of wisdom there.

Saturday, December 12, 2020

Aren't these strange gifts?

 



What in the world do leaping lords, French hens, swimming swans, and especially the partridge who won't come out of the pear tree have to do with Christmas?

A childhood friend thinks this is the answer to that question: 

From 1558 until 1829, Roman Catholics in England were not permitted to practice their faith openly. Someone during that era wrote this carol as a catechism song for young Catholics. It has two levels of meaning: the surface meaning plus a hidden meaning known only to members of their church. Each element in the carol has a code word for a religious reality which the children could remember:

-The partridge in a pear tree was Jesus Christ. 

 -Two turtle doves were the Old and New Testaments. 

 -Three French hens stood for faith, hope and love.

 -The four calling birds were the four gospels of Matthew, Mark, Luke & John. 

-The five golden rings recalled the Torah or Law, the first five books of the Old Testament. 

 -The six geese a-laying stood for the six days of creation. 

-Seven swans a-swimming represented the sevenfold gifts of the Holy Spirit--Prophesy, Serving, Teaching, Exhortation, Contribution, Leadership, and Mercy. 

-The eight maids a-milking were the eight beatitudes.

 -Nine ladies dancing were the nine fruits of the Holy Spirit--Love, Joy, Peace, Patience, Kindness, Goodness, Faithfulness, Gentleness, and Self Control. 

The Rich get richer

A study by Americans for Tax Fairness and the Institute for Policy Studies that appeared in Forbes recently showed that the 651 richest billionaires have increased their wealth by a trillion dollars since the start of the pandemic in March. The stock market surge has had a lot to do with it. 

The richest people are familiar - Jeff Bezos of Amazon, Bill Gates of Microsoft, Mark Zuckerberg of Facebook and Elon Musk of Tesla. They are now being called “centi-billionaires” as they are now worth over $100 billion each. And this is a time when a lot of people are having a very hard time just trying to survive each day.

Some basics of climate change

Tuesday, December 08, 2020

Some questions about the Covid vaccine in England

Vaccine info

 



How it's distributed



And now a question
Why didn't Operation Warp Speed (OWS) accept Pfizer's offer to purchase 200 million doses last summer? OWS signed up for 100 million doses. Now, Pfizer can't offer us more until the summer as they've sold them to foreign countries

A quote from Utah Senator Mike Lee, chair of the Joint Economic Committee and member of the Judiciary Committee

 

“Democracy isn’t the objective; liberty, peace, and prosperity are. We want the human condition to flourish. Rank democracy can thwart that.” A Twitter posting on October 8.

Monday, December 07, 2020

An Australian beach is changing

 

The Faded Silver Ball

I wrote this in what now seems prehistoric times - 2004.

It’s just a ball of rolled up gum wrappers. It’s not very big. Nowhere near the huge balls of aluminum foil we rolled during World War II. But, every time I pick it up I recall the first stages of my life. Since Pearl Harbor is my very first memory, the war was really the beginning of time for me.

World War II was a totally different war than all we have fought since. First of all, everyone knew, really knew, in their innermost selves that we were at war – and knew it virtually every waking moment. There was no way to avoid it; the newspapers, magazines, radio, movies were full of it (think of CNN on steroids). We all used ration books and, most importantly, we all had brothers, uncles or cousins in the armed forces.

For a kid removed from any possible physical danger the war was an exciting time. The movies, which included newsreels that reported the US view of the war, were filled with gallant Americans fighting the evil enemy. Movie stars were dragooned into the war; some saw combat, many sold war bonds. Daily entertainment was largely over the radio. “The FBI in Peace and War” and similar programs warned us constantly of the chicanery of the enemy. Posters, such as the famous “Loose lips sink ships”, appeared in many places. But thoughts of death and mutilation were far from my mind until the brothers of kids down the street came home damaged or dead. Still the excitement remained. They were not family. I was not close to them.

Even the newspapers were exciting: the huge headlines, the maps of places with exotic names, photos and stories of the heroes in combat. My reading skills and knowledge of geography improved considerably during the war.

What could be more exciting to a little kid than an air raid drill? The sirens blaring, the closing of the curtains, the dowsing of the lights. But, maybe because you were a kid, you knew it was only a drill. It couldn’t be real; the enemy was very far away. Wasn’t he? Whether he was or not, when the horns blew, my father, an air raid warden, put on his helmet, picked up his flashlight and went to check that there were no lights shining from any homes or businesses in the neighborhood.
My little faded silver ball most immediately recalls the long summer days my cousins and I spent rolling the aluminum foil into a giant ball. Where this ball went I know not, but it was a patriotic thing to do. As it was patriotic for my sisters to knit sweaters and assemble bandages.

Despite our being 3000 miles from the front, the war was our life then. It was our constant companion. It so captured America’s imagination, thoughts, fears and dreams that even kids did their bit to help. It united America as little has since. As I roll the ball slowly in my hand, I dream of a day when our country will be similarly united in a peaceful cause as equally just and right as the bellicose cause history calls World War II.

Thursday, December 03, 2020

A new material for clothing

A different kind of adoption

Have you heard of the National Embryo Donation Center (NEDC)? It is a non-profit in Knoxville that stores frozen embryos that in vitro fertilization patients decided not to use and chose to donate instead. There are an estimated one million frozen human embryos stored in the US right now, according to the NEDC. It has been doing this since 2003, and has facilitated more than 1,000 embryo adoptions and births. It now conducts around 200 transfers each year. Similar to a traditional adoption process, couples can decide if they would like a "closed" embryo adoption or an "open" one - allowing for some form of contact with the donor family.

Embryos can stay frozen for a long time. When Molly Gibson was born in October of this year. Her embryo was frozen in October 1992, and stayed that way until February 2020, when she was adopted. The NEDC believes that Molly set a new record for the longest-frozen embryo to have resulted in a birth, breaking a record set by her older sister, Emma.



Tuesday, December 01, 2020

Penguins on the go

 

Group travel

There are thousands in this flock of starlings. There are various reasons why these flocks are so large. Some contend that they do this to ward off and confuse predators, adopting a “safety in numbers” strategy. Others believe that starlings engage in this behavior to stay warm. Still another theory states that the birds could be coming together to share information on roosting sites.



Courtesy of a Duncaster resident

The virus among the poor

Giving Tuesday

Did you know that today Tuesday — the first Tuesday after Thanksgiving - is Giving Tuesday? It is a world-wide event as the day to contribute to charity. It was started by the 92nd Street Y in New York and the United Nations Foundation in 2012. 

This Tuesday was chosen as its special day because the founders hoped that the interest in Black Friday and Cyber Monday, which generated big sales and rampant consumption, would also lead to interest in giving back. 

And, they were right. #Giving Tuesday went viral almost immediately. Last year it generated $511 million in online giving. Note that you do not donate to Giving Tuesday itself; you donate to your favorite charity. 

The day is becoming more popular. In one survey Giving Tuesday is recognized by 54 percent of consumers, up 17 percent from 2019.

Does this happen to you?

Sunday, November 29, 2020

Where's the $340 billion?

In March Congress passed the CARES Act, which provided $454 billion to be distributed by the Treasury to the Federal Reserve to be used for emergency lending programs to save businesses and jobs during the pandemic and keep credit flowing to the economy.
 
But for months now, the Federal Reserve’s weekly financial statements have indicated that all the Fed has received from Treasury for its emergency lending facilities was $114 billion, leaving $340 billion unaccounted for. Yet, since March 98,000 businesses have permanently closed while this money, intended for economic relief, went missing. 

Now, Mnuchin has told the Fed that he wants all the remaining money back so that he can put it to better use. He had taken some money back earlier this year. He bought $11 billion of US securities and deposited another $20+ billion with foreign governments. 

Meteor

Saturday, November 21, 2020

Attacking pollution

Your cell phone may help you fight Covid-19

About 100 million Americans now have the ability to get pop-up notifications from local health authorities when they’ve personally spent time near someone who later tested positive for the coronavirus. Connecticut has this capability. Check it out here. Once you set it up, you can forget it until you, or someone you’ve been around, gets a positive coronavirus test.

For a deeper analysis go here.

Wednesday, November 11, 2020

Why not Fireman's Day?

 When I was a kid in the 1940s, it was pretty obvious that this nation was at war. Everyone was involved in some activity to help the war effort. I and my friends collected aluminum foil. My sisters knitted. We went to the market with ration book in hand. Every so often we prepared for an air raid. My brothers served in the Battle of the Bulge and other combat. All of my male cousins and most of the men I knew were drafted. I learned to read via the headlines and the lead stories of the war that the newspapers carried every day. I practiced my writing by writing letters to my brothers. All of the men in East Cambridge were drafted. It was pretty obvious why we should celebrate their efforts. Hardly anyone was against the GI Bill. I can fully understand why in the '50s and '60s Armistice Day was a big deal. And, I can readily understand why Eisenhower renamed Armistice Day to Veterans Day in 1954. 


However, I find it very hard to understand the brouhaha that is now made of Veterans Day. When Nixon abolished the draft in 1973, people now had a choice as to whether they wanted to join the military or not, as they always had a choice whether they should join the police, become a teacher, practice medicine, fight fires, etc. There are many professions where the goal is not making a dollar. Soldiers are not the only ones risking their lives. Police and firefighters also risk their lives. The military is not the only important profession that keeps this country whole. Where would we be without teachers or policemen? Why don't we have a teacher's day or a policemen's day?  


The fact of a volunteer army makes us more susceptible to go to war, especially because we know so few of the volunteers. As I said above, many of the people I knew in the '40s were drafted and risked their lives defending this country. Some of my relatives served in Korea. Friends served in Vietnam or moved to Canada. Coffins landed in the military base in Bedford, MA, almost every night. We were all involved in these wars and realized their cost. The President didn't tell us to avoid the fact that we were at war, we were all helping the war effort. That was our duty as citizens, no matter our age or circumstances. 

It is interesting that most of the politicians that will be speaking on Veterans Day have not served in any capacity in the military. I'll end with a comment from Aaron O'Connell, a professor at Annapolis, "Uncritical support of all things martial is quickly becoming the new normal for our youth. Hardly any of my students at the Naval Academy remember a time when their nation wasn’t at war."

(This is the fourth year I have posted the above.)

Is there a meaning here?

What's wrong with us



The above chart is from Our World In Data. Here are their comments

 “Why do Americans have a lower life expectancy than people in other rich countries, despite paying so much more for health care? The short summary is that Americans suffer higher death rates from smoking, obesity, homicides, opioid overdoses, suicides, road accidents, and infant deaths. In addition to this, deeper poverty and less access to healthcare mean Americans at lower incomes die at a younger age than poor people in other rich countries.”

Tuesday, November 10, 2020

Mandate the Mask?



I'm a little leery about this chart. It lists Connecticut as a state where masks are mandated. I didn't know that was the case and I live in Connecticut.

A post-campaign video

Thursday, November 05, 2020

Your coat and Covid-19

The virus is affecting animals, the mink being one example. Denmark, the home of more than 15,000,000 minks, is a major supplier of mink furs to the world.


Well, the country thinks that a mutation in the novel coronavirus has infected and could possibly interfere with the effectiveness of a vaccine for humans. Hence, the government will slaughter millions of mink at more than 1,000 farms.

Mink problems are not unique to Denmark. The minks in Utah are also infected. Mink on two farms have become the first in the United States to test positive for the coronavirus, state and federal officials state. Five animals on the two farms tested positive for the virus, but many more are believed to be infected because of a recent upswing in the number of mink deaths on the farms.

Viewing our election from overseas

Wednesday, November 04, 2020

The Police and Armed Groups

Monday, November 02, 2020

Try to Remember from "The Fantasticks"

 



Try to remember the kind of September 
When life was slow and oh so mellow 
Try to remember the kind of September 
When grass was green and grain so yellow 

Try to remember the kind of September 
When you were a young and a callow fellow 
Try to remember and if you remember 
Then follow--follow, oh-oh 

Try to remember when life was so tender 
That no one wept except the willow 
Try to remember when life was so tender 
That dreams were kept beside your pillow 

Try to remember when life was so tender 
That love was an ember about to billow 
Try to remember and if you remember 
Then follow--follow, oh-oh 

Deep in December it's nice to remember 
Although you know the snow will follow 
Deep in December it's nice to remember 
Without a hurt, the heart is hollow 

Deep in December it's nice to remember 
The fire of September that made you mellow 
Deep in December our hearts should remember 
Then follow

Simon & Garfunkel

 

Popular Music from 1954

A childhood friend of mine sent me this link
http://thenostalgiamachine.com/
You can listen to popular music from 1951 to 2015 at that site.


Rosemary Clooney


Perry Como


The Four Aces


Dean Martin


Tony Bennett
Kitty Kallen

Is this the country we want?

Tuesday, October 27, 2020

A failed bank robbery

Two raccoons broke into a California bank this week. They did so when the bank was closed. They climbed an outside tree to the roof of the bank and managed to crawl through the air ducts before falling through the ceiling tiles. They were discovered by a man who had been using the ATM machine outside of a Chase Bank after business hours.



The raccoons broke several ceiling tiles, and knocked papers around and even a computer over. “Thankfully the raccoons were not injured during their morning escapade, and to our knowledge, they didn’t abscond with any money,” said the bank manager. However, the raccoons had eaten a tin of almond cookies from the employee break room. 

Another senior doing good

Thursday, October 22, 2020

Some good news?

The death rate from COVID-19 may be lowering. Two new peer-reviewed studies show a sharp drop in mortality among hospitalized COVID-19 patients. The drop is seen in all groups, including older patients and those with underlying conditions. One study in New York looked at 5,000 hospitalized patients, a second looked at 21,000 in England.

The NY study found that mortality dropped among hospitalized patients by 18 percentage points since the pandemic began. Patients in the study had a 25.6% chance of dying at the start of the pandemic; they now have a 7.6% chance, which is still very high. The England study also found a similarly sharp drop in the death rate.

Obviously, there is a possibility that the rates were lower because, as one researcher says, "The people who are getting hospitalized now tend to be much younger, tend to have fewer other diseases and tend to be less frail than people who were hospitalized in the early days of the epidemic." 

But the studies were adjusted for factors including race, age and other diseases, such as diabetes, to rule out the possibility that the numbers had dropped only because younger, healthier people were getting diagnosed. They found that death rates dropped for all groups, even older patients by 18 percentage points on average. 

The researchers don’t think that there is one reason for the decline. There are many factors. 

For example, the data strongly suggest that keeping hospitals below their maximum capacity also helps to increase survival rates. When cases surge and hospitals fill up, "staff are stretched, mistakes are made, it's no one's fault — it's that the system isn't built to operate near 100%," he says. 

Doctors have gotten better at quickly recognizing when COVID-19 patients are at risk of experiencing blood clots or debilitating "cytokine storms," where the body's immune system turns on itself. This “makes it much easier to deal with the complications that occur because you already have protocols in place." 

Doctors have developed standardized treatments that have been promulgated by groups such as the Infectious Diseases Society of America. 

The researchers believe that mask-wearing may be helping by reducing the initial dose of virus a person receives, thereby lessening the overall severity of illness for many patients.

This sounds good. But the lowered rate of 7.6% dying is still very high. As one researcher says, "A lot of my patients are still complaining of shortness of breath," she says. "Some of them have persistent changes on their CT scans and impacts on their lung functions."

Here's something you always wanted to know



Courtesy of our Florida correspondent

Dancing Doctor

Monday, October 12, 2020

The next Tiger Woods?

He's 6-years-old

 



Courtesy of a childhood friend

The Patron Saint of the Internet

Carlo Acutis, who died at 15 in 2016, took the first step toward becoming a saint in the Catholic Church. The Church believes that he interceded from heaven in 2013 to cure a Brazilian boy who was suffering from a rare pancreatic disease. One more miracle and he will be declared a saint. Last weekend he was beatified in 2020 at a ceremony in Assisi. He may become the Church’s first millennial saint.


"Carlo used the internet in service of the Gospel, to reach as many people as possible," Cardinal Agostino Vallini said at the ceremony. Acutis took care of websites for local Catholic organizations and also created some of his own.

The teenager was also involved in charity work and spent his own money on helping disadvantaged people in his local area. He also volunteered at a soup kitchen in Milan. And, his mother says, "With his savings, he bought sleeping bags for homeless people and in the evening he brought them hot drinks."

Thursday, October 08, 2020

Barbara and Judy

Science publications and Trump

The New England Journal of Medicine and Scientific American have been around for quite a while, the Journal for 208 years. The publications have never supported or condemned a political candidate - until now. In the latest edition of The Journal its 34 editors - all of them, which is only the fourth time this has been done - signed a letter that said the Trump administration had responded so poorly to the coronavirus pandemic that they “have taken a crisis and turned it into a tragedy.” Last month the Scientific American endorsed Biden.

The Journal had a number of concerns:

The political leadership has failed Americans in many ways that contrast vividly with responses from leaders in other countries.
In the United States there was too little testing for the virus, especially early on. There was too little protective equipment, and a lack of national leadership on important measures like mask wearing, social distancing, quarantine and isolation.
There were attempts to politicize and undermine the Food and Drug Administration, the National Institutes of Health and the Centers for Disease Control and Prevention.

Furthermore, the editorial castigated the Trump administration’s rejection of science, writing, 
“Instead of relying on expertise, the administration has turned to uninformed ‘opinion leaders’ and charlatans who obscure the truth and facilitate the promulgation of outright lies.”
“When it comes to the response to the largest public health crisis of our time, our current political leaders have demonstrated that they are dangerously incompetent. We should not abet them and enable the deaths of thousands more Americans by allowing them to keep their jobs.”

A girl and her python

 

The S&P since the Depression

Wednesday, October 07, 2020

Where's the money?

In March Congress passed the CARES Act. The act enabled the Treasury to hand over $454 billion of taxpayers’ money to the Federal Reserve. The Fed, in turn, was to leverage the money by 10 times to approximately $4.54 trillion to keep the economy moving, credit flowing, workers employed and businesses alive until the pandemic had been brought under control. But, in the seven months that have gone by the Treasury has handed only $114 billion of the $454 billion to the Fed. What has happened with the other $340 billion allocated by Congress?

In the seven months that have elapsed 97,966 businesses have permanently closed. Could some have been saved with some of the $340 billion? One problem with the plan is that the act established a minimum loan amount. A business has to borrow at least $250,000, which, for many small businesses is a heck of a lot of money. The minimum is not a burden for others. Why haven't they gotten some?

Tuesday, October 06, 2020

Finding a mate

Match, Tinder or a similar web application was not used when Harris' partner, Apricot, died. Harris couldn't do so, because he was an otter. But otters naturally live in pairs and the managers at Cornish Seal Sanctuary in Cornwall, England, thought that Harris had been a very good partner to Apricot; he deserved a second chance at love. So, they developed an ad to try to find a female partner for him.


One excerpt from the ad "I am very attentive, I love a cuddle, and I am a very good listener. I will love you like no otter."

He got a hit. There was an otter named Pumpkin at Sea Life Scarborough sanctuary, who had recently lost her own elderly partner named Eric. They got together and eventually Harris moved in with Pumpkin.

Courtesy of our Florida correspondent

That feels good

Saturday, October 03, 2020

Do you have an extra $400?

If so, you can buy a swan from the city of Lakeland, Florida, which is currently supporting - with food and medical care - 80 swans living in Lake Morton. The swans were donated by Queen Elizabeth in 1957. For the past forty years the town has had the  Annual Swan Round-Up so that it can closely monitor the health and vitality of Lakeland’s swan population. 

The town feels that there are more swans than it can care for. The swans fight over space in the lake and surrounding areas, and they roam onto streets and into traffic. This year two were killed by motorists. So, the town wants to lower the population by half.


Courtesy of a Florida friend.

Friday, October 02, 2020

Want a free ride in Shanghai?

The tech and retail giant Alibaba is testing autonomous cars. The following was filmed in Shanghai. They are not charging a fee, but are testing only in a small area of Shanghai.

Wednesday, September 30, 2020

But Trump is gaining friends



Courtesy of a Duncaster resident

We're losing our friends



Courtesy of a school teacher friend

He shouldn’t be president of anything!

Of course, I’m referring to ‘our’ president, Mr. Trump. I can’t remember when I last saw him perform for more than a few minutes. So, I wasn’t prepared for last night’s travesty. It reminded me of when we were kids and had these stupid, egocentric battles. But, we usually ended the battle that day and reconciled our differences for a reasonable length of time.

I can’t understand how anybody could work for him or hire him. But, I also fear he will be reelected by people who have a hard time realizing how far this country has sunk in the past 3+ years.


Monday, September 28, 2020

Murdoch likes Trump

I wager that you've seen many references this weekend to the NY Times breaking of a truly major story. The Times has been able to gather enough information about Trump's financial dealings over the years to summarize his current financial status thusly: “Financial pressure on the president is only growing. Mr. Trump has reported losses at many of his signature properties, including $55.5 million at his Washington hotel since it opened in 2016, and $315.6 million at his prized golf resorts since 2000. He appears to have sold off most of his stocks and has relied heavily on debt. More than $300 million in loans he personally guaranteed will soon come due.”

Almost every news site I've seen today has highlighted the Times article. I say 'almost' because references to the article are quite muted in the Murdoch chain - Wall Street Journal, NY Post and Fox News. Why is that?

An audience of 1

Get rid of your car?

Thursday, September 24, 2020

It's time for the Three Tenors

Is a picture worth a thousand words?

Apparently not for the mass media, according to Wall Street on Parade. They assert that the mass media (including the Times and the WSJ) have not reported on the thievery of the big banks. And this thievery is in the trillions.

According to the International Consortium of Investigative Journalists (ICIJ), and its review of the FinCEN Files, this is the amount disclosed  in suspicious activity reports by the largest banks. 

Deutsche Bank                           $1,310,771,379,656 
JPMorgan                                   $514,206,745,666 
Standard Chartered                    $166,139,835,277 
Bank of New York – Mellon        $64,109,417,780 
Barclays                                       $21,677,582,233

Tuesday, September 22, 2020

JPMorgan Chase accused of criminality

Or so thinks the International Consortium of Investigative Journalists (ICIJ), which recently published a report on money laundering at some of the biggest banks on Wall Street. The report is based on secret documents leaked from FinCEN, the Financial Crimes Enforcement Network, a unit of the U.S. Treasury. The banks mentioned are JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon. The comments are by Pam Martens, of  Wall Street on Parade; I've followed here for a while and she seems to know what she is talking about.

While her primary concern is that the NY Times and Wall Street Journal have not really done much with this information, she does lay out a case against JPMorgan Chase. 

JPMorgan Chase has pleaded guilty to three criminal felony counts brought by the U.S. Department of Justice since 2014; she also brings up several examples of JP being involved in moving funds illegally, one example being for Paul Manafort. Furthermore, she writes "In February of this year, the Financial Secrecy Index named the United States as the second worst country, behind only the Cayman Islands, in helping individuals hide their finances from the rule of law. The report noted that the U.S. “has yet to sign up to the Common Reporting Standard, which currently has 105 signatories.”

She points out a number of shady cases involving JP. It's a good - but disturbing - read.