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I expected this a lot more than being shocked
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Nothing will happen as both JP and Blackrock own the FED.
- The Federal Reserve bought Mortgage-Backed Securities (MBS) after the 2008 financial crisis.
- JPMorgan Chase was chosen to hold these MBS securities.
- JPMorgan Chase has been charged with multiple criminal activities related to MBS and issued over 1 trillion in fines.
- Despite these charges, the New York Fed has not switched custodians.
- The New York Fed has become less forthcoming about their relationship with JPMorgan Chase over the years.
- There needs to be congressional investigation into this relationship.
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