The American Empire in a Changing World


Tuesday, June 19, 2012

''JPMorgan Tells Other Bankers About a Pending 4 $Trillion Public Pension Bomb that is About to Explode, Keeps Public in the Dark''

From 'Against Crony Capitalism'

''JPMorgan recently circulated a “strictly confidential” report among leaders at the bank and with trusted hedge fund allies outside of the bank which details an impending public pension crisis. And we mean big time nastiness.

Massive cuts in services will have to happen, or massive tax increases will have to happen, or both, to keep many pensions and municipalities from going over a cliff. The politicians know that disaster is coming. JPMorgan and their hedge fund buddies know that its coming. The public, though it has a sense of impending doom, still doesn’t grasp the avalanche that is headed toward states and cities in the very near future.''

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