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JP Morgan Stock Breaks Down On News Company's Role As MF Global Lender To Be Probed

Tyler Durden's picture





 

Not an hour after we asked who gave permission to MF Global estate to sell Italian bonds to JPM (which was a lender to MF Global, discussed extensively here) at preferential terms and we get the following headline from Bloomberg:

JPMORGAN ACTIONS AS MF LENDER LIKELY TO BE PROBED: LIQUIDATOR

Needless to say, we are quite happy. Someone who isn't however, are JPM's shareholders, as the stock just took out the lows on the news.

Some more from Bloomberg:

The liquidator of the MF Global Inc. brokerage said that “certain” actions of JPMorgan Chase & Co. (JPM), a lender to the broker-dealer’s parent, “are likely to be the subject of investigation.”

 

The trustee, James Giddens, said he would “act with the respect to” those actions to recover money for brokerage customers if necessary. He didn’t specify what the actions were in a court filing yesterday.

 


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Tue, 12/13/2011 - 15:53 | Link to Comment ABG LINE
ABG LINE's picture

LoL!

 

Tue, 12/13/2011 - 15:58 | Link to Comment transaccountin
transaccountin's picture

Months later and these idiots still cant find the money? They know exactly where its at. But we dont punish the crooks, we reward them with interest free fiat money.

Tue, 12/13/2011 - 16:06 | Link to Comment dwdollar
dwdollar's picture

Nothing will happen. Hell, they were probably buying for their 'client' politicians. Now might be a time to load up if I still trusted the global Ponzi for even a millisecond (which I don't).

Tue, 12/13/2011 - 16:14 | Link to Comment Barbarous Relic
Barbarous Relic's picture

No reaction on WSJ publishing the story and an immediate response on ZH repeating it.

Same as with the Reuters rehypothecation story.

Congratulations, Tyler, you're officially the only credible news source left in the world.

Tue, 12/13/2011 - 16:17 | Link to Comment Doña K
Doña K's picture

Too many detailed accounts, too many loose ends (that can not be tied) of what happened. People will sing like canaries to bury him. TOAST ANYONE?

http://dealbook.nytimes.com/2011/12/11/a-romance-with-risk-that-brought-on-a-panic/

His only prayer is a pardon from an outgoing looser "Obumer"

Tue, 12/13/2011 - 16:29 | Link to Comment flattrader
flattrader's picture

Hopefully, some pissed off farmer, who can't put in a crop on time to feed America, because his so-called segregated account money vanished via MFG to cover JPM will turn the gun on Corzine rather than himslef.

Perhaps then, people will pay attention.

Tue, 12/13/2011 - 18:36 | Link to Comment Hard1
Hard1's picture

JPM found the MF pinata was really full of candy to stuff themselves.

Tue, 12/13/2011 - 19:32 | Link to Comment J 457
J 457's picture

Great call ZH.

Tue, 12/13/2011 - 22:01 | Link to Comment Papasmurf
Papasmurf's picture

That was a key consideration in this planned takedown.

Tue, 12/13/2011 - 16:31 | Link to Comment stocktivity
stocktivity's picture

Why isn't anyone investigating if rehypothecation played a role in the missing MF Global funds

Tue, 12/13/2011 - 17:02 | Link to Comment Doña K
Doña K's picture

Someone is guilty! Gave you thumbs down.

The answer is simple. Keep this word from the mainstream as to stop discussion and discovery. UNRAVELING IS UNDERWAY.   

Tue, 12/13/2011 - 17:12 | Link to Comment fuu
fuu's picture

I junked him because it was brought up at least 4 seperate times in the Senate hearing today.

Tue, 12/13/2011 - 17:25 | Link to Comment Haddock
Haddock's picture

He said 'investigating' - so I junk you

Tue, 12/13/2011 - 17:53 | Link to Comment Doña K
Doña K's picture

Then why did I get junked?

Tue, 12/13/2011 - 18:32 | Link to Comment gmrpeabody
gmrpeabody's picture

Because the guy you junked junked you back. That's how it works here. Go figure..

Tue, 12/13/2011 - 19:23 | Link to Comment fuu
fuu's picture

Senate questioning doesn't count as an investigation anymore? I mean I doubt they find anything interesting but it is an investigation.

Wed, 12/14/2011 - 03:25 | Link to Comment StychoKiller
StychoKiller's picture

Even R.M. Nixon survived a so-called "investigation."  Eyewash, ALL eyewash!

Tue, 12/13/2011 - 17:21 | Link to Comment tocointhephrase
tocointhephrase's picture

There's only one Tyler Durden, Wuuuuuuuuuuuuuuuuuun Tyler Durden, walking along, singing a song, walking in a Tyler wonderland! Merry Christmas ZH!

Tue, 12/13/2011 - 16:16 | Link to Comment chet
chet's picture

Well, if there is any sizable impact, we know we'll be the ones paying for it.

Wed, 12/14/2011 - 00:04 | Link to Comment constitutionalist
constitutionalist's picture

they run the treasury board anyhow, they're on it, so if they take the money back, theyll just print some more for themselves. nothing will happen unfortunetely. 1984

Wed, 12/14/2011 - 00:04 | Link to Comment constitutionalist
constitutionalist's picture

they run the treasury board anyhow, they're on it, so if they take the money back, theyll just print some more for themselves. nothing will happen unfortunetely. 1984

Wed, 12/14/2011 - 01:03 | Link to Comment Buck Johnson
Buck Johnson's picture

You're spot on, they know exactly where the money went and when it went.  They know that if they out where the money went the next question is why did you get that money and what for.  And if it shows that the money was sent when the money was pulled from the client accounts, then the next question would be what made it a guilt edge priority to steal money from your clients to pay someone else.  That isn't a mistake, it's a decision made and who made it.  They aren't even trying to hide the inept and simple criminality that is going on under the US govt. protection.

Tue, 12/13/2011 - 15:59 | Link to Comment Ahmeexnal
Ahmeexnal's picture

And the oligarchs plan hits a snag:
Irish opposition calls for referendum on eurozone:

http://www.irishtimes.com/newspaper/breaking/2011/1213/breaking32.html

The country’s main opposition party has insisted the Government must hold a referendum to ratify the European Union’s new plans for tighter fiscal union.

Fianna Fáil leader Micheál Martin said today the Irish people should be allowed to speak on “these new arrangements” through a referendum.

The so-called fiscal compact was agreed by every country in the EU, except Britain, at a summit in Brussels last week.

Tue, 12/13/2011 - 16:05 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Thank God.  I know the irish are a bit masacistic, but enough already.

Tue, 12/13/2011 - 16:44 | Link to Comment sullymandias
sullymandias's picture

did you mean "macasitic"?

Tue, 12/13/2011 - 22:38 | Link to Comment smiler03
smiler03's picture

@ Ahmeexnal

Great link, love it. The Irish may yet save the world from the devils spawn, aka the EU.  

Tue, 12/13/2011 - 19:11 | Link to Comment Henry Hub
Henry Hub's picture

So the Irish are finally sobering up from their ten year drunk and realizing they have been royal screwed. They were passed out when the banks dumped there "rehypothecation" crap on the taxpayers. Let's hope it's not too late.

Tue, 12/13/2011 - 16:08 | Link to Comment LeonardoFibonacci
LeonardoFibonacci's picture

Erect the gallows, lads.  Once a century or so, it becomes obvious its time to use them again.

Tue, 12/13/2011 - 16:14 | Link to Comment Ahmeexnal
Ahmeexnal's picture

I say we follow Theodoric and slay them in half as he did with that slimy treacherous german Odoacer.

 

Tue, 12/13/2011 - 16:40 | Link to Comment fuu
fuu's picture

Good call.

Wed, 12/14/2011 - 01:20 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

longpig! Roast some long pig!

Tue, 12/13/2011 - 16:31 | Link to Comment ilion
ilion's picture

No need to investigate JP Morgan or anybody. We already know what happened at MF Global:
http://bit.ly/tk1vLa

Wed, 12/14/2011 - 02:17 | Link to Comment Silver Bug
Silver Bug's picture

JP Morgan seems to have their grubby little fingers in everything!

 

http://ericsprott.blogspot.com/

Tue, 12/13/2011 - 15:53 | Link to Comment ZDRuX
ZDRuX's picture

Man, this was an exciting day...

Tue, 12/13/2011 - 15:54 | Link to Comment SeverinSlade
SeverinSlade's picture

Bullish because now CNBC can say JPM is "oversold" and is a strong buy as it's the strongest US bank out there.  Shit, sorry, my /sarc was still on.

Tue, 12/13/2011 - 16:31 | Link to Comment tekhneek
tekhneek's picture

Come on. Don't be FAZetious.

Tue, 12/13/2011 - 15:54 | Link to Comment prains
prains's picture

oops somebody dropped the soap

Tue, 12/13/2011 - 16:02 | Link to Comment CClarity
CClarity's picture

$300 million revolving lending facility inked at the end of June 2011.  Citi and BAML on board too.  What a tangled web all these oligarch bankers weave.  Goldman down hard too, so . . . their tentacles are in there somewhere too (maybe in a private facility with MF).

Tue, 12/13/2011 - 15:54 | Link to Comment digitlman
digitlman's picture

Weeeeeeeeeeeee!!!!!!!!!!!!!!!!

Tue, 12/13/2011 - 15:54 | Link to Comment junkyardjack
junkyardjack's picture

Ruh Roh Rhaggy

Tue, 12/13/2011 - 15:57 | Link to Comment redpill
redpill's picture

And they would have gotten away with it if it weren't for you meddling kids!

Tue, 12/13/2011 - 16:21 | Link to Comment DCFusor
DCFusor's picture

Showing your age, ya old rascal (or mine, since I used that quote here first).

Tue, 12/13/2011 - 17:25 | Link to Comment tocointhephrase
tocointhephrase's picture

oh it has to be a +1

Tue, 12/13/2011 - 15:54 | Link to Comment walcott
walcott's picture

Crashing themselves. After they bought the living dog out of copper and silver.

Tue, 12/13/2011 - 17:09 | Link to Comment MsCreant
MsCreant's picture

Bastards probably shorted themselves.

Tue, 12/13/2011 - 15:56 | Link to Comment CvlDobd
CvlDobd's picture

I had fun filling in for Robo yesterday so I'll do it again.

Gartman was right all along on gold.

Urban outfitters is blow torching shorts.

LA gas prices are only experiencing a short term spike due to Molotov usage but will crash as soon as riots are over.

Where is the recession?

Tue, 12/13/2011 - 15:57 | Link to Comment SeverinSlade
SeverinSlade's picture

Hmm...45+ million on government food stamps...Thanks to the neat little EBT card we don't have bread lines...I'd argue we've been in a depression all along...

The Fed needs a threat of deflation in order to move forward with further easing.  Launching QE3 with inflation skyrocketing, commodities soaring, etc. wouldn't be smart.

Tue, 12/13/2011 - 17:10 | Link to Comment WonderDawg
WonderDawg's picture

I'd support your argument about a depression. I'd also argue that it will soon get much worse.

Tue, 12/13/2011 - 18:13 | Link to Comment realitybiter
realitybiter's picture

is it really a recession or depression if you can't see it?  Just print $1.5 trillion, give 50 million folks, what 3,000 a year for food via the EBT card....what's that - only 10% of the 1.5 trillion....spread the rest around your banker buddies and those that work the govt corrupt biz gig....

I don't see no stinkin' depression.  quit your bitching you occupy jerks...

insane.

Wed, 12/14/2011 - 01:22 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

And Wall Mart.....

Tue, 12/13/2011 - 16:09 | Link to Comment ebworthen
ebworthen's picture

 

 

Central banks selling gold because they:

  1. Need the cash
  2. No QE3 from FED
  3. Are terrified that Gold will become an alternative to EURO bonds
Tue, 12/13/2011 - 22:47 | Link to Comment smiler03
smiler03's picture

They aren't selling anything. They are manipulating. But I know nothing. (Fawlty Towers?)

Tue, 12/13/2011 - 17:27 | Link to Comment tocointhephrase
tocointhephrase's picture

Er, come walk past my office and you will find it there!

Tue, 12/13/2011 - 16:01 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Couldn't have happened to a nicer bunch.  As the bully says on "The Simpsons" - Ha Ha

Hopefully the "probing" will be anal.

Wed, 12/14/2011 - 03:30 | Link to Comment StychoKiller
StychoKiller's picture

Guess you've never experienced the joys of a penile swab...

Tue, 12/13/2011 - 15:55 | Link to Comment Hicham
Hicham's picture

I'm looking at you, FAZ....

Tue, 12/13/2011 - 16:26 | Link to Comment homersimpson
homersimpson's picture

Oh FAZ- is it too much to ask for you to be solidly green 2 days in a row?

Tue, 12/13/2011 - 15:56 | Link to Comment Everybodys All ...
Everybodys All American's picture

ain't that a shame. You wonder if Eric Holder is an attorney general or statue. We are going to find out.

Tue, 12/13/2011 - 16:12 | Link to Comment astoriajoe
astoriajoe's picture

Are those the only choices I get?

Tue, 12/13/2011 - 15:56 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

Fuck em!!!

Tue, 12/13/2011 - 15:56 | Link to Comment No One
No One's picture

Quick, someone get the Settlement Officer at the SEC off the tranny porn site, and get him out to JPM with the following settelment offer:

JPM does not admit wrongdoing

JPM agrees to pay $75K in fines

 

Tue, 12/13/2011 - 15:57 | Link to Comment JPM Hater001
JPM Hater001's picture

This just made my day.  I am sitting on 5 puts for June 2012 at 33.  I am going to be rich.

Tue, 12/13/2011 - 17:09 | Link to Comment Oztralian
Oztralian's picture

ha, bye bye premium.

Wed, 12/14/2011 - 05:49 | Link to Comment ucsbcanuck
ucsbcanuck's picture

would sell as soon as you hit your price target. 

Tue, 12/13/2011 - 15:57 | Link to Comment Conax
Conax's picture

Some retaliation on the PM markets also.   BTD.

Tue, 12/13/2011 - 17:11 | Link to Comment MsCreant
MsCreant's picture

War is hell.

Tue, 12/13/2011 - 15:57 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Dimon's confidence comes from the belief that the masses are too ignorant and will never catch on to their fraudulent ways.

Tue, 12/13/2011 - 16:06 | Link to Comment slaughterer
slaughterer's picture

The sell off in financials should be far faster and worse than it is.   Did QE just go full stealth?

Tue, 12/13/2011 - 16:40 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Yes.  Notice that OIL is not selling off by the way.  Another war tell.

Tue, 12/13/2011 - 16:01 | Link to Comment CvlDobd
CvlDobd's picture

Alright made it to 3pm w/o a crash!

All clear to go long!

Sarc off/

Tue, 12/13/2011 - 16:02 | Link to Comment ebworthen
ebworthen's picture

 

 

$1.50, $1.50!? 

Do I hear $1.25, $1.25!?

Tue, 12/13/2011 - 16:02 | Link to Comment Frank N. Beans
Frank N. Beans's picture

tvix acting poorly lately, still down even today!!

 

Tue, 12/13/2011 - 16:38 | Link to Comment Frank N. Beans
Frank N. Beans's picture

oh, never mind.

Tue, 12/13/2011 - 17:09 | Link to Comment Frank N. Beans
Frank N. Beans's picture

nope, finished down.  So volatility went down today if I am reading this correctly.  geez.

Tue, 12/13/2011 - 16:06 | Link to Comment chistletoe
chistletoe's picture

GS is down more than JPM ....

Tue, 12/13/2011 - 16:07 | Link to Comment Dr. Engali
Dr. Engali's picture

Anybody seen Robotroll? Wasn't he pushing JPM not too long ago?

Tue, 12/13/2011 - 16:08 | Link to Comment Odin
Odin's picture

Nice Tylers.........Now everybody go out and buy an ounce of silver right now and let's crash this Morgue bitch...

Tue, 12/13/2011 - 16:09 | Link to Comment sitenine
sitenine's picture

Probed? We want prosecutions!

Tue, 12/13/2011 - 17:17 | Link to Comment MsCreant
MsCreant's picture

The Proctologist's union uses MF Global to hedge their petroleum/lube costs. They can't afford lube now, all their assets are frozen. They want a special probe and will make motions for discovery. They will be seeking damages.

Wed, 12/14/2011 - 01:24 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

gaping damages..

Tue, 12/13/2011 - 16:10 | Link to Comment SDRII
SDRII's picture

JPM moved fast on the MF owned LME and also won the bid for RBS Sempra

Tue, 12/13/2011 - 16:10 | Link to Comment bob_dabolina
bob_dabolina's picture

We know how this ends

JPM pays a $50 fine, admits it did nothing wrong, and done.

Tue, 12/13/2011 - 16:27 | Link to Comment Josh Randall
Josh Randall's picture

Bob - you need to type "SPOILER ALERT" at the front of your message if you are going to tell how something ends.

Tue, 12/13/2011 - 16:56 | Link to Comment NotApplicable
NotApplicable's picture

No way it'll be that harsh, as it creates a precedent.

My bet is the Dimon will state that they have full immunity as they were acting as an agent of the Treasury. Won't be the first time, nor the last.

Tue, 12/13/2011 - 16:11 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Can we hold this Probe meeting in the JPM Comex vault?  I'm sure there's lots of room.

Tue, 12/13/2011 - 22:06 | Link to Comment Papasmurf
Papasmurf's picture

The purpose of the takedown was to keep the amount of space available in comex vaults private.

Tue, 12/13/2011 - 16:15 | Link to Comment earleflorida
earleflorida's picture

seriously folks,... in todays money markets, etc., etc,. - a lousy ~ $1bn and no one wants to loan the cash to get this albatross off the financial sectors front page

just seems their are real problems a foot - setting up someone or some organization for a fall

reminds me of lehman , when paulson could have saved them, rather than giving them away to barclay's plc, and the banking side to rothschild's and assoc., and nomura holdings, inc.

Tue, 12/13/2011 - 16:20 | Link to Comment Dr. Engali
Dr. Engali's picture

It's called greed. Why would they pay out 1.2 bill to get rid of this when they can pick off the assets after the carnage for pennies on the dollar? Then they will bribe er I mean ...pay a small fine and admit no wrong doing.

Tue, 12/13/2011 - 16:18 | Link to Comment hooligan2009
hooligan2009's picture

its NOMURA, but yes you are right on the button..any institution could have survived as part of the multi-trillion dollar bail-out package that was handed around subsequent to the fall of Lehman..and Lehmans assets were carted around with scant regard for an equitable value or distribution amongst investors..from a US perspective a US$400m transfer of cash on the day prior was in the interests of Lehman shareholders, but most decidely not in the interest of European banks and the subsidiaries of US banks who found their money rhypothecated away to US shores. 

Tue, 12/13/2011 - 16:38 | Link to Comment earleflorida
earleflorida's picture

and in the same time-frame barclay's, bob diamond gives-up 'bgi' to larry fink's 'blk' ?

'robo-maximus' via [re]hypothecation cross-border - ummm,... doing the bidding for the frb?

Tue, 12/13/2011 - 16:15 | Link to Comment EZT
EZT's picture

question of the day: Where is the money...??

Can ZH print that on a t-shirt..

Tue, 12/13/2011 - 17:34 | Link to Comment tocointhephrase
tocointhephrase's picture

Better on a g string!

Tue, 12/13/2011 - 16:14 | Link to Comment loveyajimbo
loveyajimbo's picture

Hope jamie Dimon is probed with a cattle prod, that is the only way to get the truth out of that scumbag... might probe the silver manipulation too?  The relationship with MF and Gensler at the CFTC?  One can dream, eh?

Tue, 12/13/2011 - 16:17 | Link to Comment buzlightening
buzlightening's picture

jpig is the dead head fed.  Skunk works go round sniffing of this beastly monster entities bung hole, will come up roses.  How many tons of rotting pig men sausages being hid in this dead head fed burial ground? Probed with a wet noodle.  Marshmallows stacked upon the pigs back until the world has no more marshmallows.  This happens when its self evident the fiat ponzi is over.  By then, the porkin pig men of the beastly dead head fed, in conjunction with all western bankstering criminals will have every last farthing of we the sheeple.  We'll be pants down in room full of kingly & queenly dressed neoCONoplians, to do what the ilk please with every last one of us. International wafflers we are and we'll be pancaked by the criminal element called representative government.  Pass the syrup. 

Tue, 12/13/2011 - 16:19 | Link to Comment sabra1
sabra1's picture

isn't JPM the government? if JPM goes, what will A-HOLE oBLAHma do? i'll go get the rope!

Tue, 12/13/2011 - 16:20 | Link to Comment vegas
vegas's picture

Imagine that! JPM had a role as MF lender, and what a coincidence that Insider trader Soros gets a few Bil in Ital bonds 5% under the market. Man, so many coincidences.

 

http://vegasxau.blogspot.com

Tue, 12/13/2011 - 16:21 | Link to Comment unionbroker
unionbroker's picture

"calm down you guys it was only 100 million we steal more than that every day"

Tue, 12/13/2011 - 16:22 | Link to Comment SilverRhino
SilverRhino's picture

ASHO.TA is having one hell of a run though

Tue, 12/13/2011 - 16:22 | Link to Comment YesWeKahn
YesWeKahn's picture

No worry, Dimon got connections.

Tue, 12/13/2011 - 16:41 | Link to Comment earleflorida
earleflorida's picture

yeah,... early retirement

Tue, 12/13/2011 - 16:24 | Link to Comment digalert
digalert's picture

Corzine-Dimon cellmates?

Tue, 12/13/2011 - 17:36 | Link to Comment tocointhephrase
tocointhephrase's picture

Who is going to be the bitch!

Tue, 12/13/2011 - 16:28 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Boom Boom Bang.... Tyler is delivering punches to the financial system right now like a young Mike Tyson in his prime! Rip the fucking ear of MF Global LOL!

Tue, 12/13/2011 - 16:28 | Link to Comment navy62802
navy62802's picture

BAC is also getting slammed. Seems the financials don't care too much for the Bernanke's statement this afternoon.

Tue, 12/13/2011 - 17:00 | Link to Comment junkyardjack
junkyardjack's picture

BAC is reacquainting itself with $5

Wed, 12/14/2011 - 05:51 | Link to Comment ucsbcanuck
ucsbcanuck's picture

yeah, but won't drop below. One of the anointed banks.

Tue, 12/13/2011 - 16:32 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

JPM Morgan saw they were over leveraged and exposed and took them down

Tue, 12/13/2011 - 16:33 | Link to Comment zenon
zenon's picture

Tyler,

I wished you had published my article on Gold that I sent you over the weekend. It could of saved people some money. Just sain..

Tue, 12/13/2011 - 16:40 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Saved people some laughs more likely. People here hold physical, no sellers here, pal. Back to your GLD silly trader....

Tue, 12/13/2011 - 16:51 | Link to Comment zenon
zenon's picture

How the fuk do you know asshat?  When did u first buy gold? 2010? Or is that a bit early?

Tue, 12/13/2011 - 16:59 | Link to Comment fuu
fuu's picture

Someone lost money on gold?

Tue, 12/13/2011 - 17:15 | Link to Comment zenon
zenon's picture

Yeah. like most people on this board, unfortunately.

Tue, 12/13/2011 - 17:20 | Link to Comment fuu
fuu's picture

Any evidence you can provide for that statement?

Tue, 12/13/2011 - 17:39 | Link to Comment zenon
zenon's picture

While I'm not in the habbit of looking into people's bank accounts, everybody is bullish to the gills. It just to me like alot of newcomers. Most of these people I think bought over $1500 (when guys like Soros were selling). (I'm not talkingh about you McCreant).

Tue, 12/13/2011 - 17:50 | Link to Comment fuu
fuu's picture

So no.

Tue, 12/13/2011 - 18:04 | Link to Comment zenon
zenon's picture

Look, you and I know that anyone who is bullish is most likely long. Unless perhaps he's not an active.

Tue, 12/13/2011 - 18:29 | Link to Comment fuu
fuu's picture

Which would describe more of the ZH population.

Tue, 12/13/2011 - 18:55 | Link to Comment zenon
zenon's picture

Ok, enough of the hair splitting. i wote an article which I sent to Tyler on Saturday. Since it's not politically correct to recommend taking profits on gold, it was ignored. No hastle, to each his own.

Tue, 12/13/2011 - 17:22 | Link to Comment MsCreant
MsCreant's picture

You may not know this board. Many of us are longs and bought in most of our stash a long time ago. 

Tue, 12/13/2011 - 16:33 | Link to Comment Piranhanoia
Piranhanoia's picture

le JPMort has probes and dismissals priced in.  Can anyone old enough even imagine having something like this happen in the 60's or 70's?   The bank is now 5 or 10 deep in trials for crimes, has admitted they don't own anything they are supposed to, and their stock goes down a little bit upon news they are keeping money from rightful owners and the court of the US?    (Insert laugh track here)

Tue, 12/13/2011 - 16:38 | Link to Comment PaperBear
PaperBear's picture

Ouch, ouch, ouch.

Tue, 12/13/2011 - 16:43 | Link to Comment PaperBear
PaperBear's picture

Paper gold/silver getting a good thrashing ... $1,625/oz down $39 and $30.50/oz down $0.78.

Tue, 12/13/2011 - 16:49 | Link to Comment Conax
Conax's picture

Look there, the Dow is starting the last ditch ramp up before closing..

 must. reach. 12000.. must reach. 12000..

Tue, 12/13/2011 - 16:51 | Link to Comment Pretorian
Pretorian's picture

I see you had huge positions in EUS>USD today. Also played dirty launching roomers.

Tue, 12/13/2011 - 16:53 | Link to Comment Mark701
Mark701's picture

Oh, my. That's gonna leave a mark.

Tue, 12/13/2011 - 17:04 | Link to Comment Conax
Conax's picture

wooopsie- it ain't ramping up, backsliding to 11,920 hell. 

edit: those last 5 minutes were wild. JPM had dropped to 30.96 but in a matter of a few secs rose to 31.31. Spastic markets. Financial epilepsy.

Tue, 12/13/2011 - 22:38 | Link to Comment navy62802
navy62802's picture

death throws.

Tue, 12/13/2011 - 16:58 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Tyler....just want to thank you in advance for the site before the Feds pull the plug on you.

Tue, 12/13/2011 - 17:03 | Link to Comment NotApplicable
NotApplicable's picture

Don't worry, they'll keep him online to keep us all in one convenient honeypot, with sock-puppets to direct and monitor us all. As always, life is filled with both positive and negative consequences that cannot be avoided.

*adds additional layer of tinfoil to hat*

Tue, 12/13/2011 - 16:59 | Link to Comment NotApplicable
NotApplicable's picture

So.... I went and looked over my pension fund holdings to see if there was any exposure to MFG. While there was none (yay!) I did see large holdings of GS, JPM and waaaaay to many other non-productive companies.

Funny, I never thought I'd be racing to get old in order to realize some of the value of my retirement.

Tue, 12/13/2011 - 16:59 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

jpm tanks sector lol

Tue, 12/13/2011 - 17:01 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

JPM == Just Pay Me (now bitch).

Tue, 12/13/2011 - 17:01 | Link to Comment Sutton
Sutton's picture

Where there's smoke, there's fire.

We're gonna get you, Jamie.

Tue, 12/13/2011 - 17:03 | Link to Comment sheeped up
sheeped up's picture

Some nice manipulation at the close today.  Down 103... No wait fix that.  Down 68!!

Tue, 12/13/2011 - 17:04 | Link to Comment americanspirit
americanspirit's picture

OK boys - everybody form a circle. Face the center. Raise your weapons. Ready. Aim. Fire.

Tue, 12/13/2011 - 17:15 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

i would have prefered the letter bomb approach...

but, i'll wait to see how this plays out first.........

Tue, 12/13/2011 - 17:35 | Link to Comment paul_Liu
paul_Liu's picture

Great.

I made 6k with JPM today.

 

Thanks ZH

Tue, 12/13/2011 - 17:37 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

I think the missing Money leads to JPM.  I would bet my bottom dollar that is where it is.

Tue, 12/13/2011 - 18:42 | Link to Comment Dre4dwolf
Dre4dwolf's picture

I hope JP Morgan gets Probed.

 

Tue, 12/13/2011 - 18:49 | Link to Comment ucsbcanuck
ucsbcanuck's picture

http://finance.yahoo.com/blogs/breakout/fed-bankers-cannot-trusted-dick-bove-194940492.html

Wow Bove came right out and said it:

""It is clear that the bankers will never be honest with us," he says. "They will never get up and say, 'we are in trouble, you gotta help us;' therefore, you can't trust what bankers say."


Tue, 12/13/2011 - 19:27 | Link to Comment BudFox2012
BudFox2012's picture

Nice thought, but the only court any JPM executive will see is the food court at their corporate office...

Tue, 12/13/2011 - 20:07 | Link to Comment blindman
blindman's picture

what is all this shit talk of 72% and such
recoverable funds that were stolen? we can
easily have 100% recovered just by prosecuting the
fucking criminal bankers that stole the 100% and
perhaps selling their personal belongings. period.
they can exit with their heads, perhaps?

Tue, 12/13/2011 - 20:10 | Link to Comment Jumbotron
Jumbotron's picture

Oh SNAP !!!!

What if it's determined they commingle this shit with the money set-aside for food stamps?

 

Tue, 12/13/2011 - 20:50 | Link to Comment blindman
blindman's picture

what better way to starve off a population than
to defraud the farmer who feeds them?

Thu, 12/15/2011 - 19:44 | Link to Comment Mo Bius
Mo Bius's picture

Oh no!!! JPM ripped off MFGlobal??

See this:http://www.myspace.com/tom_heneghan_intel/blog

and this, from MadMax:http://maxkeiser.com/2011/12/07/mf-globals-bankruptcy-revelations-concer...

Can't be punished.

Lock and load.

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