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Criminal Inquiry Shifts To JPMorgan's Mispricing Of Hundreds Of Billions In CDS: Is Dimon The Next Diamond?
On the last day of May, when we first learned via Bloomberg that there was even the scantest likelihood that JPM may have been massaging its CDS marks within the (London-based of course) CIO organization - the backbone of hundreds of billions in notional exposure, and thus a huge counterfeited benefit to trader bonuses and corporate earnings - we wrote, "The Second Act Of The JPM CIO Fiasco Has Arrived - Mismarking Hundreds Of Billions In Credit Default Swaps" in which we explained precisely how this activity would and did take place, precisely why other traders caught doing the same are on the verge of being thrown in jail, precisely why everyone else does it, and precisely why the biggest CDS self-reporting and client/banker owned-organization (this is where images of Libor should appear), MarkIt, may well be implicated in everything - very much in the same way that the BBA is the heart of Lie-borgate. Because unlike all other allegations of impropriety, most of which rely on Level 2 and Level 3 assets whose valuations are in the eye of the oh so very sophisticated beholder (in this case JPM) who has complex DCFs and speaks confidently when explaining marks to naive, stupid outsiders (in other words baffles with bullshit), when it comes to one of the last places where Mark to Market is still applicable and used: the OTC CDS market, and where daily P&L records are kept, it will take any regulator, enforcer, or criminal investigator precisely 1 minute to find out if there was fraud, or gambling, going on here.
Then lo and behold, none other than JPM admitted minutes before releasing its Q2 earnings that it had been doing precisely what Zero Hedge accused it of doing nearly 2 months earlier (but of course Jamie Dimon had no idea, no idea, what the media accused his firm of doing), and in doing so exposed itself to just as much litigation risk as Barclays in the Lie-borgate scandal, while further throwing a monkey wrench into the CDS market, where all the other banks (who had been doing just the same), will no longer be able to pick off the bid/ask spread in the process crushing CDS trader bonuses, and resulting in billions in foregone imaginary profits.
Most importantly, it opened up the firm to a criminal investigation. Which as Reuters reports, is precisely what has now happened.
From Reuters' Matt Goldstein and Jennifer Ablan:
Before last week's disclosure, the criminal probe largely had focused on the personal trading of some CIO traders, two of those sources said. The authorities were looking for evidence that some in London may have sold shares of JPMorgan in advance of the firm's May 10 disclosure that it could lose a minimum of $2 billion on the derivatives trades gone awry.
Now the investigation is focused on whether three JPMorgan employees in London committed fraud in reporting on their transactions. The bank is cooperating with authorities.
Obviously, nobody at the top had any idea of anything that was going on...
JPMorgan's chief executive, Jamie Dimon, and some of his top lieutenants did not learn about the potential misconduct by some CIO employees until early last week, said these sources, who were not authorized to speak publicly on the matter
Maybe he should have been reading Zero Hedge? Because said otherwise, as JPM is allegedly to its CIO traders, so Goldman Sachs is to Fabrice Tourre. Remember him - he was the only person who in 2006-2008 was singlehandedly masterminding Goldman's CDO fraud, which the firm settled for a then record sum. Nobody else: it was just him. Well, if the glove fits, JPM will do the same, and is about to throw some of its heretofore most profitable traders under the bus.
In fact, some of these traders who will have been "discovered" to be mismarking their books will most likely be the same people who have already lost their jobs and are in the process of clawing back pay:
So far, the trading loss has cost a number of people their jobs, including Ina Drew, the former head of the CIO, who resigned in May. Also gone from the bank are three traders in London, Bruno Iksil -- who gained fame as the "London Whale" for his large trades -- Achilles Macris and Javier Martin-Artajo.
Lawyers in London for Iksil and Martin-Artajo did not return phone calls or email seeking comment. A lawyer in New York for Macris declined to comment.
A lawyer in New York for Drew did not return request for comment. A family member who answered the phone at Drew's home said she was not available for comment.
Here's the problem: nobody will be stupid enough to believe for one second that the marks on hundreds of billions in securities passed from the front office straight to JPM's 10-Q without vetting by middle office, back office, Treasury office, and even in some cases, counterparties. In other words, if JPM is indeed stupid enough to attempt to pull a "Fabrice Tourre" on CIO, it won't work.
Actually scratch that: it may work, but it will involve a "fine", i.e., a bribe of about $1 billion to the SEC, and countless promises of perpetual campaign donations to all the other corrupt members of congress and the senate. Which if this fraud flies by unscathed will mean all of them.
Ironically, if only JPM had indeed been honest, and told the public that not only did it have a loss, but it had discovered "material lapses in internal control" back on May 10 when the story hit, it would be a non-event by now. Instead, with the phased in revelations of events that even the most inexperienced trader knows full well all took place at the same time, it is becoming very obvious that Jamie Dimon and crew are merely hiding more and more revelations in some dark corner.
And what is scariest is that all this excludes the liability that the bank will with absolute certainty have as a result of Liborgate, and that it is one of the only three US members of the USD Libor fixing committee at the British Banksters Association.
We will leave the final words to our good friend from Bloomberg Jonathan Weil, who said that "It was once inconceivable that Dimon might someday wind up like Barclays CEO Bob Diamond, who resigned last week after that company's Libor scandal broke wide open. It's not anymore."
It certainly is not.
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How's that silver market investigation going??
But, but, but... Dimon's part of the NY Fed.
Looks like he'll be wearing those "POTUS" cuff links again soon.
The teflon coated bankster, how do you get rid of such a thing?
Silver bullets!
JHP
It's a long and Transitorily unwinding road. Drivers wanted.
http://www.huffingtonpost.com/janet-tavakoli/jpmorgan-raises-fraud-que_b...
Yes, Dimon might be shamed to forgo 80% of his bonus, too - like Diamond. Poor, poor Dimon. The day he is known as "Jimbo" to his cellies at Leavenworth will be the day chickens fly South for the Winter.
He'll have to give up his day job, because suddenly, the emporor has no clothes....
Jamie Dimon overheard talking to Ben Bernanke in the hallway. "I think we can work out a plea bargain."
Blythe is pulling out a midnight raid on silver. Since she (and her boss) are going to jail the guillotine, they might as well just bring silver to $5 per ounce....if only for a brief moment. Time to buy with both hands.
You said it, Ahmeexnal. They can't afford to admit years of silver manipulation at this point. So they can't let the price go. On top of that it is a good income stream, and they will definitely get away with slamming it down hard one more time.
Here is JPM's SarbOx certification. The question is, at the time, was the information contained in this 10Q a fair representation, in all material respects, of the financial condition and results of operations of JPM?
Dimon attested that it was. This was arguably a false certification.
Section 906 of the Sarbanes-Oxley Act of 2002 requires CEOs and CFOs to certify that their company’s periodic financial reports comply with applicable requirements and fairly present, in all material respects, the financial condition and results of operations of the company. See 18 U.S.C. § 1350(a), (b). Any person who “knowingly” provides a false certification can be fined up to $1,000,000 and/or imprisoned for not more than ten years. See 18 U.S.C. § 1350(c)(1). Any person who “willfully” provides a false certification can be fined up to $5,000,000 and/or imprisoned for not more than twenty years. See 18 U.S.C. § 1350(c)(2). In one criminal prosecution, the government stated that for a defendant’s conduct to violate this provision “[h]e must not only know that the periodic report contains materially false information, he must falsely certify . . . that the report is materially accurate, he must do so knowing that such a false certification is forbidden by law, and he must do so with the specific intent to violate the law.” United States v. Scrushy, 2004 U.S. Dist. LEXIS 23820, at *14-15 (N.D. Ala. Nov. 23, 2004). As described above, some courts may require a less stringent showing of culpability to meet the definition of “willful,” requiring only that the defendant knew his conduct was wrongful, not that he knew it was unlawful.
Exhibit 32
JPMorgan Chase & Co.
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of JPMorgan Chase & Co. on Form 10-Q for the period ended March 31, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of JPMorgan Chase & Co., certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.
The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of JPMorgan Chase & Co.
Date:
May 10, 2012
By:
/s/
James Dimon
James Dimon
Chairman and Chief Executive Officer
Date:
May 10, 2012
By:
/s/
Douglas L. Braunstein
Douglas L. Braunstein
Executive Vice President and Chief Financial Officer
This certification accompanies this Form 10-Q and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that Section.
A signed original of this written statement required by Section 906 has been provided to, and will be retained by, JPMorgan Chase & Co. and furnished to the Securities and Exchange Commission or its staff upon request.
"Sarbanes-who? Who gives a shit!"
JD
JHP...at close range. Fixed it for you. Thank me later.
To world_debt_slave: Garlic, a cross, and a mirror at dawn.
Stop Dimonizing the man !!!
It aint gonna happen. Corzine is still on the loose, no way they even question him.
Remember, just-us.
@kahuna: Exactly. We need to apologize as a nation to our bankster heroes. What we put them through! And they do it all for one reason: to keep us safe. Makes me tearful and I'm a macho alpha-type.
Grand Idea in the Tradition of our Messiah Apologizing ti the Rest of the World for Being Everything Possible Under the Sun.
The New Humility.
"I hate myself."
imo dimon will resign before the election occurs.
imo that would be bullish for silver so i'm talking my book.
Nah, Dimons are Forever.
But I'm holding onto my silver anyway.
Yada, yada, yada..... So he will have to throw a few more millions around D.C, chump change.
If they keep throwing the only traders who make them money under the bus, what kind of balance sheet are they going to end up with? Who is going to want to go to work for a company that treats its employees as human sacrifices to Congressional hearings? Serves 'em right... all of 'em.
Many years ago, in what seems now like another life altogether - I worked as a market maker on the IRS desk at a TBTF Bank.
The mark to market farce worked like this:
Trader tells junior where to mark book outstandings.
Junior does so and signs p&l update forms.
Sometimes an auditor would question an entry or two: Auditor would genearly be baffled with bulshit until he went away, a favourite was along the lines of "the benchmark security was changed as the one used at trade inception is now off the run and no longer represantative"
The more senior you were, the less likely you were to have your signature anywhere near anything even questionable.
So the issue is not
If they keep throwing the only traders who make them money under the bus, what kind of balance sheet are they going to end up with?
But: given the awful internal practices and accounting standards used by Banks, how do they even know themselves who their profit making traders are? the answer would seem to be, they dao not. And they certainly make a lot less trading than they have come to believe.
Very good. Thanks for the insider view. My trust has just taken yet another down-tick.
For the thinking of the FED sharks on this, U2 said it well:
"I'm no dope I'll give you rope, here's the rope, here's the rope..........
...................SWING AWAY............................
The "White Hats" will be pulling in to town real soon.
Problem is, they'll be riding in from the East. And I don't mean Long Island.
They'll clean up the town and then they'll take it over.
Hope I'm wrong, bet I'm right.
Arrest Bernanke too.
Actually, the LIBOR scandal and the CDS P/L manipulation guarantee that no regulator will investigate the silver market. Three mega frauds within a month at a single bank might reveal to the public that the regulators are utterly incompetent (or still watching porn) and that all of the financial reform window dressing / Dodd Frank grandstanding since 2008 has been a political farce.
Besides, JPMorganWamuBear is TBTF.
If we regulators consacred the half hour between wiping their d!cks off and going for the daily after lunch walk on probing on any one of the above mentioned fraud cases, no major financial institution would be still standing today.
These issues are generating a lot of mistrust in the general public and investors. All this must be investigated and punished if they determine responsibilities. However, I believe that we should not contribute to worsen this situation. We will need the capital market to exit this crisis.
All we are going to be left with when this is over is the barter market. The capitol market? How is that working out for us so far. Regulated it might work well, but when will it ever in the history of mankind
with his greediness ever reach that pinaccle of being regulated "correctly" so as to work.
TBTA. Too big to arrest.
Commercials are now net long gold in last week's COT, silver... not yet?
Told ya Jaime. Meet Kharma, she is pissed, you are done.
Probably held up due to the Corzine investigation. Or maybe the BP spill investigation. Or maybe (fill in the financial crime) investigation.
What do you expect investigators to do with so much porn on the web to watch?
I don't know. Is there such a thing as Chapstick for the Dick?
Hey, maybe the wars are a fraud too?
and ObamneyCare, and "No Child Left behind" and the Dream Act, Dodd Frank, Social Security, Homeland Security, TSA etc etc etc etc.................It's like the Russian taxi driver said "Amerika is a boollshit country"
The entire financial system is composed of unadulterated fraud.
Every single aspect of it is riddled with lies, manipulations, and criminal activity.
Send in the drones................
At this point I ask: Is there anything that isn't fraud in the financial system?
There are some honest sandwich delivery guys on Wall Street, I believe.
that would depend on how you define "fraud"
these are not the drones you're looking for,...
They have, they've been working there now a long time... OH! you mean those weaponized ones that are unconstitutional...
Just throw a few small fry traders under the bus. How much of this CDS crap floating around...something like $700 TRILLION? That's a lot of claw backs. They know this house of cards has to remain propped up by any means.
In what other industry can you get a large cash bonus for simply reporting fake profits or just baffling with bullshit?
The auto industry, apparently...
So why do you all on this site hate Occupy Wall Street so much? Why not join them and grow the revolution. You might want to ask the Bin Laden family to stop funding Bush and the Taliban and start getting them to fund civil law suits. Lets get the Taliban to get their drug cartels to turn on the Banksters.
Occupy is right for the wrong reasons, and as such is extremely dangerous.
Only the RESPONSE to Occupy is dangerous.
Their B.O is dangerous
I don't believe B.O. likes them either. They've been asking him a lot of embarrassing questions.
I've never seen an amerikan protest group strangled so effectively in its cradle...thanks Wall Street owned MSM and State "security forces"
For now. What happens when the pols give in to their demands, or worse, they are given direct power (in some imaginary world)? They make things worse by applying "solutions" that don't address the actual problems. We get bankers in chains, and the chains are held by the central bankers (just like today, but now moreso). We get higher taxes that lower total revenues. We get a trade war with our supplier of consumer goods, and more regulations on our own manufacturers.
Learning the wrong lesson can often be worse than learning nothing at all.
Wrong - who says we hate them. I cheer them on.
Lets get the Banksters to get their drug cartels to turn on the Taliban.
mission accomplished
So why do you all on this site hate Occupy Wall Street so much?
Occupy started out great as a grassroots John Galt-type movement
Then it was hijacked by Sorosian communists
The whole 1%/99% mantra is designed to instigate a class war necessary for communist reforms
The group no longer talks about the Fed being the source of corruption & manipulation.
That is why we hate it
The OWS crowd knows they've been screwed somehow and a few are aware of the issues with fractional reserve banking and financial repression, but a lot of them are just Marxist retreads that still worship at the altar of the state. There's a huge cognitive dissonance in that movement and it was easily led astray.
Amen. Now what do we do about it. Stop whining and take action.
Yes, even that fucker Soros said " all of financial history is one lie and deceit after another". Not even afraid to admit it openly. No one in government has the balls to go after them. It would mean the end of all those whores, coke, limo rides, fine dining and free money in Washington. They know what side their bread is buttered on....
Agree totally. But what about our politicians then? If we, the people, are aware of all this, our politicians with their Wall Street associations MUST be even more aware.
So they are either guilty and complicit as hell, or totally incompetent. Either way... it's all looking pretty bad isn't it?
If Congress is not already the dumbest bunch of people alive, how do they look now after their questioning of Dimon turned into them begging Dimon to tell them what he would recommend they do to fix the industry?
Uh, try bought, paid for and scripted in advance?
They're not that stupid - cunning is the right word, and if you think otherwise you are naive.
these are not the cunning linguist you're looking for
nor the Master Debaters it would appear either.
Ned...
Finally some reason on this thread.
If there is an "criminal investigation" and Reuters reports it, it is definitely bought, paid for, and scripted.
Let's see, could it be to assist with maintaining the illusion that fractional reserve banking is an honest business that requires oversight?
.
Seriously? Is that what you think happened there? That was just code for "Please tell us how to fix this mess for you Mr. Dimon so we can be sure to collect on the millions from your three thousand strong loby. We sure don't want to do anything to screw that up."
Atlas Shrugged is what we are living through here in 2012. Written in 1957, it described the U.S. in 2016.
Amazing. Simply amazing.
Who is Ron Paul?
Yes, I recently heard Dear Leader Obama say:
John Galt
i think we can call it a script by now
Xtra, maybe that is because it is a Luciferian blueprint, dictated by Rothschild himself, for exactly what is happening, which is conpsiracy to create world government.
"Who is Ron Paul?"
A politician. I don't care what he promises, if he tried to do what he's promising he would be sleeping with the fishes faster than you can say "Hi."
Politics is a rigged game. It is not a solution.
The only thing you would get by putting Mr. Paul in, say, the White House, would be the disgust of seeing him solding you down the river, or if that didn't happen, I'm sure a Kennedy could be pulled.
The only thing you can try to do against the state is to try to hedge against its collapse.
Hey Jamie Dimon......GAMMISIS SOU !!!
Looks like the rat-finks Dimon and GHeithner, at long last, are going to the big house for some back-door swaps.
Don't bet on it or count on it. There always seems to be a way.
Please Oh Please Oh Please... That first hit is always the best.
Talk like this is like a giant crack pipe of Hopium. Remember these people have gotten away with so much already, it is hard to believe their tools will do more then throw some low level red shirt to the crowd.
#41
Seriously. The Jew banker will find a Jew lawyer to find a Jew judge to let him off the hook. If that doesn't work they'll throw more money at the bought and paid for Senate banking committee.
hey man, Biederman's a jew...so were Larry Moe Curly and Dylan...
Corzine? No jew.
Bush? Paulsen? Romney? Obamma? Geethner? Blythe? Holder? Mozillo? Lewis?
jew free.
Keep some perspective.
Um,,, I think they just join up.
The smart banksters are cooking the books and transferring reserves to off-shore accounts. Hollow out the banks and investment accounts and then dump the losses on the government and the taxpayers.
Remember Too Big To Fail is still in play. It's good for another bailout by Obama, Bernanke and Turbo Timmy. Fraud and finanical criminal behavior is the game to play these days.
Nobody big goes to jail. Dimon is just going to read the script in the TBTF dog and pony show presented to the masses.
Dimon will follow Angelo Mozilo and thousands of others laughing all the way to their vast wealth!
In the case of Bob Diamond..yes. In the case of Jamie Dimon...no friggin way. He's put his whole Presidency in the hands of defending the current Presidency...hard to tell if this is the whole thing blowing up. Certainly President Obama did more than just "bend an ear." Given the absolute lack of prosecutions he clearly bent over backwards for the industry. "And now this." Made to order for Mitt Romney...hellllo! Mitt Romney! Anyone home? No? "No Mayor of New York City ever went beyond that job"...and none ever will i might add. Besides they feel more at home when you hate them. Anywho the days of "winging in on the Lear Jet and telling Congress how things are gonna get done around here" are clearing behind us now.
http://www.youtube.com/watch?v=PvHN3QkkYFY&feature=related
Yogi, I wish I had more than one up arrow for that one.
It will be as it always is: Nothing will happen.
http://www.youtube.com/watch?v=Hl_ir1y3Akk&feature=related
WTF?
Look, in the name of recovery and job growth, the government will forgive all fraud from these large banks. Free Madoff!!!
"Free Madoff!" That's freakin' hilarious. Ought to be a bumper sticker. I'm stealing it.
all a storm in a teacup...nothing to see hear folks please move along>
Bullish for bullshit and lawyers...Hand in glove.
I don't desire to stoop to the levels that so many of these CEOs all the way to the POTUS in their behavior and total disregarrd for the average citizen in America and countless other countries.
No, I don't want to see them murdered, hung, or thrown in jail.....
Throw them without ID and credit cards, strip them of all their assets, in Detroit or New Orleans, two cities which have been listed as in the top ten of the most dangerous cities in the world and let them see for themselves how the bottom 5% live.
Scary stuff indeed!
http://www.theglobeandmail.com/globe-investor/investment-ideas/the-case-...
The case for a new gold rushIt is sort of funny watching them begin to turn on themselves, in a surreal type of way. Looks like they are going to have a hard time playing nice from here on out. That little snowball on the horizon is beginning to grow...
From what time to what time?
"Most importantly, it opened up the firm to a criminal investigation. Which as Reuters reports, is precisely what has now happened."
From the article:
"A federal prosecutor assigned to the investigation...
A U.S. Securities and Exchange Commission attorney overseeing the matter..."
C'mon, TD...
Yer kidding, I know you are.
There is no "criminal investigation."
It is an important fact that we're stuck on the "B" side... and there are more important truths.
The "A" side is a defunct Congress.
We need to stop analyzing the symptoms.
THESE fucks won't prosecute THOSE fucks, but at least the TD's are providing a pretty comprehensive list of THESE and THOSE for game time.
No argument there, Gooch,
but your concept of compiling a list for game time,
while neglecting the most important issue,
is not only akin to admitting defeat but
gives a pass to the largest and most powerful set of
now-perpetrators
the world has ever known.
Once this little arrangement is gone,
it is not coming back.
There is nothing wrong with the arrangement.
So you might want to think there is something wrong
with those charged to interpret it, on your behalf.
Nothing of note will happen to him.
Jamie will be sent to grass in some tropical paradise.
Far too many elected officials have reached office with the help of his contributions.
Dimon going to be first ever to get a 1 billion severance.
Let's have an experiment, let's have Jamie Demon put in the top floor of JPM headquarters and have a 747 smash headfirst into the middle of the building and see if he gets out ok. This will be completely kept secret of the US gov't.
Ten bucks says him, and 90% of the fucking criminals he works with get out alive.
Fuck 'em all 2012. Get the rope.
So JPM will pay a fine (licensing fee) admit no wrongdoing and drive on to the next crisis.
It is amusing that less than 3 months ago Blythe was suggesting that JPM really was just doing it for the good of humankind:
WELL, WE'VE BEEN INVESTING IN THE COMMODITIES BUSINESS. AND IT'S IMPORTANT TO
REALIZE THAT OUR COMMODITIES BUSINESS IS NOT ABOUT BETTING ON COMMODITY PRICES.
IT'S ABOUT ASSISTING CLIENTS IN EXECUTING, MANAGING THEIR RISKS.
And after CIO we all believe this crap right?
IF YOU SEE ONLY THE HEDGES AND OUR ACTIVITY IN THE FUTURES MARKET, BUT YOU
AREN'T AWARE OF THE UNDERLYING CLIENT POSITION THAT WE'RE HEDGING, THEN IT WOULD
SUGGEST INACCURATELY THAT WE'RE RUNNING A LARGE DIRECTIONAL POSITION. IN FACT
THAT'S NOT THE CASE AT ALL. WE HAVE OFFSETTING POSITIONS. WE HAVE NO STAKE IN
WHETHER PRICES RISE OR DECLINE. RATHER WE'RE RUNNING A FLAT OR RELATIVELY MATCH
BOOK.
One hopes they choke on their lies in the future. One believe they won't. The system is 1000% leveraged long to their and all the TBTF lies. Should have changed after 2008 - didn't. Shoulda, Woulda, Coulda.
teapot in a tempest.. or was that..
What about Blankfein and GS? Can't they get them while they are at it. Where's Bill Blank. Someone call in Black. This is getting interesting.
Wait. What if this is the planned collapse and takeover by the NWO as preached by Alex Jones.
I'm not ready yet.
Ok go ahead.
I'm ready now.
it will take any regulator, enforcer, or criminal investigator precisely 1 minute to find out if there was fraud, or gambling, going on here.
Ah, if only there were a regulator, enforcer or criminal investigator to be found anywhere in North America, Europe, Asia or Australia.
Mark this comment up [infinity].
I just found a criminal investigator willing to take this on.
Oh shit, he apparently just strangled himself.
The body of Christopher Dymond, 52, was discovered in a secluded car park in Herongate, Essex, after his family had reported him missing.
A post-mortem revealed Mr Dymond died from self-inflicted stab wounds to his chest and cuts to his arms.
His grieving father, Denis Dymond, told an inquest: "Our over-arching point of view is that Chris's death came about because of intense anxiety which was work-related.
"He was let down in the duty of care by his employers."
The father-of-three had been reported missing by his concerned family at around 10.30pm on April 21 this year after they were unable to contact him.
Police launched a full-scale search and discovered the body early the following morning four miles from the family home in a car park at Herongate Athletic Football Club.
A note was found addressed to his wife, Sharon, with whom he lived at the family's home in Shenfield, Essex.
Coroner Mrs Caroline Beasley-Murray said there were no suspicious circumstances and recorded a verdict of suicide at an inquest held in Chelmsford, Essex.
She said: "It is patently clear from what Mr Dymond expressed in the note that he was suffering extreme anxiety about work-related matters."
Mr Dymond is believed to have been heavily involved in the transfer of responsibility and power for bank regulation from the Financial Services Authority to the Bank of England in the weeks leading up to his death in his role managing IT services.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9376436/...
Thank the gods we have Zero Hedge - now if the Tylers only had a morning show on MSNBC.
To wake everyone the fuck up, that's why.
zh hit every single cylinder in this article - i have no criticism except for this:
"...it will take any regulator, enforcer, or criminal investigator precisely 1 minute to find out if there was fraud, or gambling, going on here. ..."
bbbwwwwaaahahahhahahahhahahahhhhhhaaaaaahhahhahahahhahah! regulators downloading porn don't have time to catch anything except a nice piece of snatch....
and zh hit the bullseye in questioning that cock and bull story about dimon's feigned ignorance.....his "ignorance" is arrogant lying.....his sycophantic minions inform of everything thing of substance especially when covering their butts for illegalities.....
dimon would do well to resign now rather than face the continuing meltdown of irswaps in the towering inferno of perpetual debt.
"regulators downloading porn don't have time to catch anything except a nice piece of snatch"
Tranny porn may not be nice, and it may not be snatch. Just sayin'...
Careful where you point that snatch, it might be loaded!
I'd like to see someone at the federal level back in to the trades and actually determine what the marks should have been instead of plucking a "smoking gun" email and suggesting it was evidence. But they're federal prosecutors, they don't actually know shit about this stuff. If you're a JPM trader involved in this write this letter: "dear C student at bullshit state school, suck it. Love, your mother"
Here's the problem: nobody will be stupid enough to believe for one second that the marks on hundreds of billions in securities passed from the front office straight to JPM's 10-Q without vetting by middle office, back office, Treasury office, and even in some cases, counterparties. In other words, if JPM is indeed stupid enough to attempt to pull a "Fabrice Tourre" on CIO, it won't work.
Sarbanes-Oxley, what was the point?
Family Guy Safety Dance
http://www.youtube.com/watch?v=zS1g3IVGiYQ
I am getting the sense that Jamie may indeed be forced to resign. TPTB need a scapegoat, and he's perfect.
It's not like he doesn't richly deserve his fate.
Paterno. Same thing - no difference - the arrogance pf power. Hubris our friends the Greeks called it.
Maybe, just maybe. We can hope.
This new batch of hopium gets us hella high, bro!
The world is mismarked
Just ask private equity
Could christmas come early. No way, regulatory capture, Atlas continues to shrug. Got physical?
I am so fucking sad to agree.
At this point, I think Atlas needs a truss.
Lest we forget that most of Dimon's fraudulent dealings and manipulations are prescribed and at the discretion of the US Treasury... but still...
I'm sure that Jamie would look quite the buffoon in a tailored orange suit!
Buy physical gold and silver.
He looks like a buffoon now.
In an unrelated JPMorgue Scandal...
JPMorgan Attempts Takeover of FDIC
Don't ask, don't tell, throw Jamie Dimon down the well.
Don't fuck with folks that deal in concrete. He's not heavy, he's wearing our shoes.
Worst nightmare ever for metal heads and gold bugs.
If they take away the ability to "manipulate" the CDO, LIBOR, Treasury, or whatever other paper markets there are....
Then that means the crooks at JPM will be further emboldened to manipulate the gold and silver markets in an even more flagrant, "in your face" manner.
Because nobody, I mean nobody is going to do anything about investigating the manipulating the PM markets.
Any wonder why investors are piling into Treasuries and "Fed-Approved" equities like Simon Property Group?
Not even trying Robo? Your getting too many positive votes!
Robo has admitted gold is manipulated. This is progress.
It's getting close to the election. The SEC investigator will be investigating the hookers Dimon sent over. A big jump for the SEC investigator, going from spending all day viewing porn to actually having the real thing.
All players in this show know their parts. Corzine, Dimon and the rest of criminal financial cartel all know they may have to participate in an occasional dog and pony show. An occasional two-bit fall -guy goes to jail.
A Jewish cesspool! ..... or should I say, ANOTHER Jewish Cesspool?
Your comment might be a tad less ignorant if Jamie Dimon was actually Jewish. He is not.
He's jewish at heart........
Hee Haww, Hee Haaawww.
Dimon is an Anglicized version of Diamond which is a very common Jewish name.
Name was originally Diamondes or something close. He's Greek.
Figures...
Diamondes is Greek for Diamond which is a very common Jewish name. There are Greek Jews you idiot.
"Your comment might be a tad less ignorant if Jamie Dimon was actually Jewish. He is not."
Maybe he's not, but it's (International) Jews (banksters) signing Dimon's paychecks. Bet me?
Besides you gonna tell me there were no Jews in Greece throughout history? Personally I think Dimon is of Greek Jewish heritage, but he's not the 'right' kind of Jew...in other words he's not an Ashkenazi.
To the junker...I suppose you'd have me believe the Bank of England is under Anglo-Saxon(WASP) control?
The Bank of England and the Federal Reserve System
American Exceptionalism – Serious Distortions of the New Economic Era
Montagu Norman and Benjamin Strong in the 20s
is lizzy36 jewish?? if so lizzy should state such.
Me thinks Dimon is refusing to resign and they're doing to him what ECB did to Berlusconi in Italy.
No resign, we don't buy bonds, Silvio!
Does it ring a bell?
No resign, we start criminal inquiry Jamie!
Pure art.
Criminal inquiry. M'kay...
Oh, and remind me again, where is Jon Corzine tonight?
the big family "Land Whales",... and i'm not talking about some pos multi-billionaires -- i'm talking hundreds of billions too trillionaire's, have had enough of the bs, period!
they're going to reinstate glass-steagall and chop some heads off, literally and figuratively [remember kenny boy lay and his right hand committing suicide].
diamond and dimon made hogs of themselves divvying up Lehman and others, but still weren't satisfied. they got free bailouts,... and bonus buy-outs via wamu, bear sterns, and ml for penny's on the dollar (free... literally paid implicitly by the frb via sheeple) . citi was bailed, as was gs. why? how did aig do when they underwrote all the derivative ie., cds, cdo, cmo, abs, mbs, cmbs, and a cadre of mezzanine alt-A and tier3 illiquid contracts.
the only half decent character in the bunch is wf [wachovia], and their business is drug laundering money with half-ass citi south of the border. but that's ok, because the government condones it to pay for the wars and mic.
look for geithner and the bernak to do something drastic,... a red-herring to the rescue or bombs away ME
jmo