Matt Taibbi talks with Ring of Fire host Sam Seder about his recent article “The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare“. Taibbi published the article with Rolling Stone on November 6, 2014. It’s a bombshell, causing waves across the country over the sins of the financial industry and retells the story of Alayne Fleishmann, a “central witness in one of the biggest cases of white-collar crime in American history.”
Listen to Sam’s interview here.
According to Taibbi, Fleischmann was the reason that JPMorgan paid $9 billion dollars in one of the largest fines levied against the financial industry.
Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she described as “massive criminal securities fraud” in the bank’s mortgage operations.
Thanks to a confidentiality agreement, she’s kept her mouth shut since then. “My closest family and friends don’t know what I’ve been living with, she says. “Even my brother will only find out for the first time when he sees this interview.”
Fleischmann began as a bright-eyed and smart securities attorney. She had a genuine passion for securities law. “There was nothing shady about the field back then,” she told Taibbi. “It was very respectable.”
Read Taibbi’s full article here.