How Big Banks Make Big Bucks From Russian Dark Money

Over the past two decades, American corporations have rightly earned a reputation for capitulating to China — turning a blind eye to human rights atrocities committed by the Chinese government so they can benefit from the Asian superpower’s emerging consumer economy.

For example, Jamie Dimon — the longtime CEO of JPMorgan Chase and the world’s most powerful banker — apologized profusely after making a mild joke about the Chinese Communist Party last year. The reason for the mea culpa was evident. Months earlier, Chinese authorities granted JPMorgan Chase permission to assume full control of a securities business — the first foreign company to be offered such an opportunity.