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What a giant game for monopoly money.
GS still wants to win though.
Jamie to HR Head: We need a scapegoat NOW!!! give me a list of all the former JP workers who were 10 feet or closer to a CDO deal in 2007.
I'm sure it was just a rogue element (1, maybe 2 people at the most) within the completely innocent bank who had no idea that there was gambling in Casablanca. The bank will get a fine (perhaps $100K if we really want to send a message, less otherwise) for failure to supervise. Jail time for the rogues.
JPM: "It's the new [Lehman]."
Until and unless they charge and convict the Corporations that housed (mandated) these activities, its all for nothing.
They have to take these banks out - permanently.
That is the reset.
In a perfect world.
The lawyers and bankers kill each other off, so that their numbers werer trivial...
Time to pay your membership fees Jamie!
When are we going to see JPMorgans booked loss on it's silver short exposure, eh?
Harvey Organ notes today that the banksters threw massive amounts of paper metal to keep the price of Gold and Silver in check.
These cocksuckers will be brought down. Patience and fortitude is what is needed. That and someone like Bart Chilton speaking publicly about this ongoing fraud.
Speaking of the CFTC where's the news on the position limit progress? I find nothing in the news today.
What the CFTC or SEC needs to do is:
1. Ban naked short selling of commodities
2. Show which banks are short what precious metals
3. Make it illegal to short more than the physical metal on hand at the vaults.
4. Weekly and surprise audits of the metals ETFs and COMEX and LBMA vaults. If you don't agree to the audits you can't administer an ETF.
5. Position limits. 1500 contracts max.
PS Hearst they didn't do squat. Bait and switch about something else.
Is this too much to ask? It seems to me at least for copper and silver that JPM is trying to corner the market like the Hunts. Well long copper, short silver.
Unfortunately, I didn't see the word "criminal" in front of fraud.
...which means a nuisance fine and handsmacks. Jamie and Barry will work it out by tee time. Barry needs a billion campaign bucks for '12.
Can you get an individual conviction for criminal fraud when the defense is that the fraud is institutional?
Llodra was only with JPM from '06-'08, so High Kommand can easily label him an incompetent mercenary rogue....which might be exactly the job function they were looking for when they hired him. Insulation is at the core of all organized criminal activity.
Did you think he was implying "legal" fraud?
The legal system has a criminal side and a civil side. When charged wtih criminal fraud, the penalty is jail time. The penalty for civil fraud is a fine.
Mary doesn't do criminal, that's Eric and "his people" who apparently can't even contemplate matching their evil predescesssors' tiny but successful record of imprisoning bosses who cut checks to the campaign.
Sweet! This news, coupled with LOLing at the company's fake earnings report tomorrow, is going to make my day! I'll be looking for some serious Durden color on those loan loss reserv.....er.....earnings.
Do you suppose J. Dimon will let fly with another of his classic "It is hard to be a millionaire banker" rants? Well, I sure hope so...I HEART J. Dimon most when he is whining....
Pretty much a non-event.
Everyone has forgotten about 2008.
Some big wig will pay a paltry fine and things will move on as usual.
They are more focused on what is happening right now, not 3 years ago.
- When will Kim Kardashian gain 40 lbs. and be booted of the celebrity circuit?
- Will Donald Trump run for president?
- Who is going to win American Idol this year?
- Who is going to win the NBA finals this year?
Thanks for not insulting the group's intelligience with "Who's going to win the World series this year?"
'cause hopefully everybody already knows.....
Another Dog and Pony Show. Look what happened to the slimeball Cuomo after he stopped looking around. Made him Governor Slimeball. No one is buyin this
Was thinking the same. Throw someone with an impressive title under the bus to "save the firm, the industry, and to juice QE3 for the good of all banksters . . . and their wives - ala Mrs. Mack and TALF". Maybe they can get a little bit of that going again.
At least they have a sense of humor. Great names. Llodra. Isn't Lladro famous porcelain? Breakable? Fab Torre - a great name!
LOL - Time to raise the debt ceiling lickety-split so the rich and elected can keep it going.
Something is always better than nothing but at the end of the day its still just a little fish in a big pond..I waiting for them to bag that elephant...
As noted previously, Fab Tourre received a Wells Notice (which was not disclosed contrary to Finra regulations) in late 2009. Had it been filed and intercepted, most would have likely said nothing would come out of it. Well, for the most part, most would have been right. But yes, a dog and pony show is most certainly coming.
Intriguing timing also..
indeed. "is that an election i hear coming?" of course "careful what you ask for, you just might get it." clearly "2008 is forgotten" vis a vis "who rescued who." some would argue "the government was the only good guy in this whole deal."
Seeing how the judges already decided and are on one side, let the ponies gallop into the arena.
Unbelievable, another bank in on "the big short."
Just in time for Obama (2012 Change & Hope Roadtour) to show the nation how tough he is on Wall Street!! Or at least those members of the Wall Street Gang who aren't already in his Cabinet or other key positions in his "hope and change" administration.
Is this like Mexican Police? Does DOJ or SEC call their victim and tell them how much it will cost them to settle this as a civil manner and then they pocket the fine in cash, or does the victim have to sort it out into envelopes to be distributed to all the peoples in the SEC.
The finest government money can buy, USA, USA, USA,USA
I wonder how long before Daily and the bamma-boy put the kibosh on this??
interesting, but until we see handcuffs and perp walks of people like jamie....who cares?
frankly jamie should get 20 to life for what's gone on.....
book 'im dano and throw him in a cell with lloyd. and the two broads we found out today stole 220 million .....
Boy, ain't that a kick right square in Jamie's mosquito balls...
Jamie & LloydIf it wasn't for fraud as a business model, Jamie & Lloyd would be Amerika's shoe shine boys...
JPM up 24 cents after hours.
By far, the strongest bank stock in the group.
Probably gap up on earnings when they come out.
They have been building new branches like crazy out here in L.A.
Same in NorCal, though branding most branches CHASE.
are JPM branch building on the back of high profits and volumes in food stamps?
because their retail reputation ain't worth shit in the public domain after the mortgage fraud business is over and how they treat Joe Public
Dewd, John Lennon is spinning in his grave right now. Those mofo's at JP Morgan have no right to use his song in their California commercials. It is wrong and should be criminal. I mean seriously, JP Morgan Chase and John Lennon ??? They are playin' you people in Cali.
Blame it on Ono. JPM/Chase paid someone for the rights to use it. And yes, they're playing us - we're suckers for feel good songs - think Beach Boys. They're clever those JPMs. Rebranding as cool blue Chase (out here very few people get the connection to Chase Manhattan - if they even know that name from the past). Do a cute radio spot too where a desperate mother learns her daughter has a new relationship with Chase and is so excited, bragging to her friends, until daughter says Chase is a bank - but a really good one. Barf!
she's a bitch. McCartney was right. I listened to her response to Fukushima--heartless.
You're from L.A. - o.k., now I understand, thank you. Also, they haven't been building branches out in L.A. cause we have been building branches out in L.A. - but its all good till it isn't.
Can we just quit the dog and pony show and start the hanging. Cheap fast and above all clean up this mess fast and swiftly. Go after all the assets and every CEO homes and wealth. Take back the country folks.
Weakiki Leaks is gonna unload it's secrets any day now...
We need an online data base that joins;
Board of Directors of the top 500 corporations and think tanks with Names and addresses.
Hooked to Google Earth to zoom down on the property with driving directions.
Like a "Homes of the Rich and Famous" meets 'Child Molesters" website.
Just so the average person who just lost his/her job, Medical Coverage and Retirement Pension can just sort of drive up and knock on the door and say 'Thank you' in their own special and imaginative way.
Let me know when someone goes to jail or self-immolation happens.
Is he going to have to give up 1 of his 3 international vacation homes? His yearly safari hunt? The golden dildo he uses on his wife?
A CNBC talking head today tried to call the defences case in the Chumbawambamerithuian (!) insider trading case "disingenuous" for receiving a call (played on CNBC) about a possible Arab investment going ahead. Only problem was the Arab funds shareholding was public domain having been reported widely and weeks before in the Press!
I've a feeling this SEC prosecution has enough holes in it to pass for a Swiss cheese and they're going to rack up another 'fail'
next time a butcher gets 'insider info' (ie. a mobile phone call) from a farmer pork bellies will be more expensive next month will butchers get raided by these midget porn surfing clowns at the SEC ?
WTF are advance order taking (tracking) computer programs if not insider dealing? Why hasn't the SEC pounced on those firms?
The regulatory farce (and failures) are mounting by the day.. who needs an argument against regulators and regulation, they do such an excellent job of proving to everybody what a huge expensive fuking waste of space they are ...load gun, take aim, shoot yourself in the foot!!!
Full real time disclosure of all stock trades by anyone. This information should be publicly available even if you buy one share.
All the money wasted on regulation could be.put to better use.
money is wasted on regulation, only when there isn't frequent and meaningful enforcement and actual criminal penalties. Jail time is the only thing that brings a tear to the eyes of the oligarchy and their minions.
We don't need regulation, just like we don't need traffic signs and traffic laws and paved roads and all those other disturbing features of an actual civil society.
Regulations aren't the problem, regulations are meant to address the problem, but they are only 1 element of a 3 sided pyramid (regulation, enforcement, criminal penalties). Financial crimes are not civil crimes, they are criminal in that they cheat the entire country and destroy faith in institutions and create an atmosphere of cronyism. Criminals go to jail. or we wind up with our financial markets full of criminals who pay fines and continue to break laws and steal,cheat,swindle,lie - you know the song and dance, its been playing on Wall Street for decades.
You are kidding? Regulations are the ogligarchy. Who do you think brings regulations into being other than the establishment? Do you think regulations drop from heaven? They come from the ogligarchy passed by their bought and paid for crones in DC and enforced at taxpayers expense to screw their rivals and keep the fat rotten cats atop their throwns.
Business has existed for thousands of years without laws, lawyers, Govt or any need for contracts
The addition of Govt financial regulations is exactly like the Govts laws, signs and graffiti all over our roads: a bloody clown show
No Law works. Period.
....let the free market prevail (no Govt, law or regulators required)
"little is known about Magnetars as they occur far from earth."
Until a year or two ago, I didn't think the government even could charge you with fraud without it being a criminal offense.
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