JPMorgan Chase

Tyler Durden's picture

Blythe Masters Withdraws From CFTC : Furious Twitter Backlash Blamed





Following our post yesterday which included the occasional F-bomb, the reaction was sharp and severe. So severe in fact that less than 24 hours later, Blythe Master has withdrawn from the CFTC. The culprit for Masters' resignation in just 24 hours? A very angry Twitter.

 
Tyler Durden's picture

Frontrunning: February 7





  • Here is why AAPL bounced off $500: Apple Repurchases $14 Billion of Own Shares in Two Weeks (WSJ)
  • German Court Refers OMT Decision to Europe's Top Court (WSJ)
  • Inflation Fuels Crises in Two Latin Nations (WSJ)
  • U.S. job growth seen snapping back from winter chill (Reuters)
  • Google to own $750 million Lenovo stake after Motorola deal closes: HK exchange (Reuters)
  • Frigid Winter Spells Trouble for U.S. Economy (BBG)
  • Winter Games to open, Putin keen to prove doubters wrong (Reuters)
  • Regulators Ready to Proceed on Bank Leverage Limit (WSJ)
  • Abe Eyes Window for Biggest Military-Rule Change Since WWII (BBG)
 
Tyler Durden's picture

The Farce Is Complete: Blythe Masters Joining CFTC





We thought today's newsflow and "market action" ranked pretty high on the absurd surrealism scale. And then we saw this.

BLYTHE MASTERS TO JOIN CFTC GLOBAL MARKETS COMMITTEE
JPMORGAN’S BLYTHE MASTERS TO JOIN CFTC ADVISORY COMMITTEE

It's almost as if they are explicitly telling the handful of people who still care about this entire charade a resounding "fuck you."

 
Tyler Durden's picture

Frontrunning: February 5





  • Goldman to Fidelity Call for Calm After Global Stock Wipeout (BBG)
  • Turnabout on Global Outlook Darkens Investor Mood (Hilsenrath)
  • EU Said to Weigh Extending Greek Loans to 50 Years (BBG)
  • Second Storm Hitting Northeast Halts Planes, Schools (BBG)
  • Small Banks Face TARP Hit (WSJ)
  • As Sony prepares PCs exit, pressure mounts for reboot on TVs (Reuters)
  • IBM Uses Dutch Tax Haven to Boost Profits as Sales Slide (BBG)
  • ECB faces dilemma with inflation drop (FT)
  • London Subway Strike Snarls Traffic as Union Opposes Cuts  (BBG)
 
Reggie Middleton's picture

My SEC Warning Regarding RBS Prescient As Biggest Loss Since Crisis on Mortgages Provision





I predicted this clearly, with loads of evidence, last spring. I even tipped the SEC/UK authorities. Tthe chickens come home to roost. Let it be known, Wall Street's margin IS my business model!!!

 
Tyler Durden's picture

Frontrunning: January 29





  • Obama warns divided Congress that he will act alone (Reuters)
  • Fed Decision Day Guide From Emerging Markets to FOMC Voter Shift (BBG)
  • Fed poised for $10 billion taper as Bernanke bids adieu (Reuters)
  • Bernanke’s Unprecedented Rescue Unlikely to Be Repeated (BBG)
  • Argentina Spends $115 Million to Steady Peso (WSJ)
  • Billionaires Fuming Over Market Selloff That Sinks Magnit (BBG)
  • SAC’s Counsel Testifies at Insider Trading Trial in Unexpected Move by the Defense (NYT)
  • Automakers Fuel Japan’s Longest Profit Growth Streak Since 2007 (BBG)
  • Turkey Crisis Puts Jailed Millionaire at Heart of Gold Trail (BBG)
  • Ukraine expects $2 billion tranche of Russian aid soon (Reuters)
 
Tyler Durden's picture

Turkish Lira Soars Over 1000 Pips In Hours On Central Bank Intervention Suspense





As we noted earlier, the "surprise" factor of the Turkish Central Bank's (CBT) emergency meeting is seeming to have the desired effect as the Lira has rallied over 1000 pips since the announcement. Officially there has been no intervention and, despite Erdogan's political pressure on the CBT not to raise rates (because of the "interest rates lobby"), Barclays (as we noted here) and most other banks are expecting more conventional dramatic interest rate hikes (since everyone knows the FX reserves are running dry):

*TURKEY NEEDS TO RAISE O/N RATE 300BPS FOR MKT EFFECT: JPMORGAN

However, JPMorgan adds that it "strongly doubts this will regain investors confidence" and Finansbank warns it has "significant doubts" that the CBT will deliver. And this is what the rest of the market thinks...

 
Tyler Durden's picture

Frontrunning: January 27





  • Emerging sell-off hits European shares, lifts yen (Reuters) - but not really if you hit refresh since the latest central bank bailout announcement
  • Apple’s Holiday Results to Show Whether Growth Is Back (BBG)
  • Israel attacked Syrian base in Latakia, Lebanese media reports (Haaretz)
  • Abenomics FTW: Japan Posts Record Annual Trade Deficit as Import Bill Soars (BBG)
  • When all else fails, Spain's hope lie in a 16th century saint: Saint “might help Spain out of crisis,” says interior minister (El Pais)
  • Global Woes Fail to Send Cash Into U.S. Stocks (WSJ)
  • IMF's Lagarde sees eurozone inflation "way below target" (Reuters)
  • Minimum wage bills pushed in at least 30 states (AP)
  • AT&T Gives Up Right to Offer to Buy Vodafone Within 6 Months (BBG)
 
Tyler Durden's picture

Jamie Dimon Gets Pay Raise After Raking Up $25 Billion In Legal Fees





Earlier this week we reported that at JPMorgan, the many will pay for the crimes of the few, after the bank revealed that compensation for most workers would be flat with 2012, and no raises were planned for the bank's employees as a result of the massive, $20+ billion legal bill the bank has raked up in recent months as one after another market manipulation, fraud and malfeasance by current and former JPM workers has been revealed. One person, however, will be exempt from this blanket punishment: the firm's CEO Jamie Dimon, of course. Because there is always a reason Jamie is richer than you...

 
Tyler Durden's picture

Frontrunning: January 24





  • Emerging market sell-off raises specter of contagion (Reuters)
  • China Bank Regulator Said to Issue Alert on Coal Mine Loans (BBG)
  • Argentina to Ease FX Controls After Peso Devaluation (BBG)
  • Pimco's Gross problem: who can succeed the 'Bond King'? (Reuters)
  • Ukraine protesters seize building, put up more barricades (Reuters)
  • Mideast Turmoil Dominates Gathering of Business Elite (WSJ)
  • Central Banks Withdraw Dollar Funding (WSJ) - oh really?
  • Samsung warns of weak earnings growth this quarter (FT)
  • Three explosions rock Cairo, killing 5 (USA Today)
 
Tyler Durden's picture

Frontrunning: January 23





  • Gross Told El-Erian ‘Hell No’ Seeking to Stop Departure (BBG)
  • How Caterpillar got bulldozed in China (Reuters)
  • Davos Bankers Struggle to Convince Elite That Markets Are Safer (BBG)
  • Lucrative Role as Middleman Puts Amazon in Tough Spot (WSJ)
  • Arctic Air Blankets Northern U.S. as Texas to Get Snow (BBG)
  • Lenovo buys IBM's server business in China's biggest IT acquisition (Reuters)
  • SEC judge bars "Big Four" China units for six months over audits (Reuters)
  • U.S. Accuses Security Background Check Firm of Fraud (WSJ)
  • RIP BOE forward guidance: Bank of England rate rise is 'still some way off' - Fisher (Reuters)
 
Tyler Durden's picture

Frontrunning: January 22





  • Winter Storm Expected to Make Northeast Commutes Harder  (BBG)
  •  Invasion of Spanish Builders Angers France Struggling to Compete  (BBG)
  • Toronto mayor, caught ranting on video, admits drinking a 'little bit" (Reuters)
  • IBM's Hardware Woes Accelerate in Fourth Quarter (WSJ)
  • Sharp Divisions Come to Fore as Peace Talks on Syria Begin (NYT)
  • Afghanistan cracks down on advertising in favor of U.S. troops (Reuters)
  • Microsoft CEO Search Rattles Boards From Ford to Ericsson (BBG)
  • Banks Sit Out Riskier Deals (WSJ)
  • Netflix Seen Reporting U.S. Web Users Reach 33.1 Million (BBG)
 
Tyler Durden's picture

China's Epic Offshore Wealth Revealed: How Chinese Oligarchs Quietly Parked Up To $4 Trillion In The Caribbean





"Close relatives of China’s top leaders have held secretive offshore companies in tax havens that helped shroud the Communist elite’s wealth, a leaked cache of documents reveals" the ICIJ's latest offshore weawlth expose begins. In addition to the usual list of who, what, where, why and when, we learn that once again the two largest Swiss banks are about to be embroiled in yet another money laundering scandal, this time involving the parking of wealth belonging to China's aristocracy - including its princelings - in various Caribbean, mostly British Virgin Island, tax havens. What is notable, if not unexpected, is just how pervasive the parking of offshore capital has been, and confirms that it is not inflow of money that the PBOC has to be afraid of when its internationalizes the Yuan, it is the outflow that will be far more worrysome. But the biggest stunner is the sheer size of the wealth transfer: according to ICIJ estimate, up to $4 trillion in "untraced assets" may have left China since 2000. These are truly epic numbers.

 
Tyler Durden's picture

Frontrunning: January 13





  • Full onslaught 1: New Jersey Gov. Chris Christie's Aides Pressed Hard for Endorsements (WSJ)
  • Full onslaught 2: Feds investigating Christie's use of Sandy relief funds (CNN)
  • Iran nuclear deal to take effect on January 20 (Reuters), Iran to get first $550 million of blocked $4.2 billion on February 1 (Reuters)
  • Sen. McCaskill didn’t want to be in same elevator with Hillary Clinton (Hill)
  • The banks win again: Basel Regulators Ease Leverage-Ratio Rule for Banks (BBG)
  • Ireland's Rebound Is European Blarney (NYT)
  • Democrats prove barrier for Obama in quest for trade deals (FT)
  • Federal Reserve Said to Probe Banks Over Forex Fixing (BBG)
 
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