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Rolling Stone Profiles Chase Whistleblower

The article calls her the bank's 'worst nightmare'
By Elizabeth Armstrong Moore,  Newser Staff
Posted Nov 7, 2014 5:15 AM CST
Rolling Stone Profiles Chase Whistleblower
   (Rolling Stone)

(Newser) – Matt Taibbi, an American freelance journalist the New York Times describes as having an "avid following," is known for writing critically of Wall Street. Some may recall his 2010 Rolling Stone feature "The Great American Bubble Machine," in which he describes Goldman Sachs as "a great vampire squid wrapped around the face of humanity." Now, Taibbi is out with another scathing article in the magazine, this one a profile of Alayne Fleischmann. The former JPMorgan Chase transaction manager got her start as a securities lawyer and soon found herself, as Taibbi puts it in the latest issue of Rolling Stone, witnessing what she says was "massive criminal securities fraud"—and Taibbi writes the bank would prove willing to pay a $9 billion fine to keep what she knew from the public's ears.

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"My closest family and friends don't know what I've been living with," Fleischmann says of what the past several years have been like. "Even my brother will only find out for the first time when he sees this interview." Read the 6,000-word profile at Rolling Stone, which describes how she was "blocked at every turn." A sampling:

  • "...by asleep-on-the-job regulators like the Securities and Exchange Commission, by a court system that allowed Chase to use its billions to bury her evidence, and, finally, by officials like outgoing Attorney General Eric Holder, the chief architect of the crazily elaborate government policy of surrender, secrecy, and cover-up. 'Every time I had a chance to talk, something always got in the way,' Fleischmann says."
(In 2012 Taibbi accused Obama of signing a bill that will nearly "legalize fraud" in the stock market.)

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