It was back in 2006 when Dawn Kopecki reported in BusinessWeek Online in a piece titled, Intelligence Czar Can Waive SEC Rules,

"President George W. Bush has bestowed on his [then] intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye."

What this means folks, is if J.P. Morgan is deemed to be integral to U.S. National Security - they could be "legally" excused from reporting their true financial condition.

The significance of the "movement" of this authority from the President’s office to the Intelligence Czar’s office is HIGHLY suggestive that this law – EXISTING SINCE 1934 – originally designed to allow the President to exempt companies working on certain top-secret defense projects – had MORPHED and was indeed "in play" for opaque but opportunistic and practical reasons [cover-ups].

Just trying to add some clarity,
Best,
Rob Kirby