This page has been archived and commenting is disabled.
JP Morgan Stock Breaks Down On News Company's Role As MF Global Lender To Be Probed
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.
»
- 19478 reads
- Printer-friendly version
- Send to friend
- advertisements -
LoL!
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.
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).
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.
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"
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.
JPM found the MF pinata was really full of candy to stuff themselves.
Great call ZH.
That was a key consideration in this planned takedown.
Why isn't anyone investigating if rehypothecation played a role in the missing MF Global funds
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.
I junked him because it was brought up at least 4 seperate times in the Senate hearing today.
He said 'investigating' - so I junk you
Then why did I get junked?
Because the guy you junked junked you back. That's how it works here. Go figure..
Senate questioning doesn't count as an investigation anymore? I mean I doubt they find anything interesting but it is an investigation.
Even R.M. Nixon survived a so-called "investigation." Eyewash, ALL eyewash!
There's only one Tyler Durden, Wuuuuuuuuuuuuuuuuuun Tyler Durden, walking along, singing a song, walking in a Tyler wonderland! Merry Christmas ZH!
Well, if there is any sizable impact, we know we'll be the ones paying for it.
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
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
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.
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.
Thank God. I know the irish are a bit masacistic, but enough already.
did you mean "macasitic"?
@ Ahmeexnal
Great link, love it. The Irish may yet save the world from the devils spawn, aka the EU.
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.
Erect the gallows, lads. Once a century or so, it becomes obvious its time to use them again.
I say we follow Theodoric and slay them in half as he did with that slimy treacherous german Odoacer.
Good call.
longpig! Roast some long pig!
No need to investigate JP Morgan or anybody. We already know what happened at MF Global:
http://bit.ly/tk1vLa
JP Morgan seems to have their grubby little fingers in everything!
http://ericsprott.blogspot.com/
Man, this was an exciting day...
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.
Come on. Don't be FAZetious.
oops somebody dropped the soap
$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).
Weeeeeeeeeeeee!!!!!!!!!!!!!!!!
Ruh Roh Rhaggy
And they would have gotten away with it if it weren't for you meddling kids!
Showing your age, ya old rascal (or mine, since I used that quote here first).
oh it has to be a +1
Crashing themselves. After they bought the living dog out of copper and silver.
Bastards probably shorted themselves.
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?
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.
I'd support your argument about a depression. I'd also argue that it will soon get much worse.
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.
And Wall Mart.....
Central banks selling gold because they:
They aren't selling anything. They are manipulating. But I know nothing. (Fawlty Towers?)
Er, come walk past my office and you will find it there!
Couldn't have happened to a nicer bunch. As the bully says on "The Simpsons" - Ha Ha
Hopefully the "probing" will be anal.
Guess you've never experienced the joys of a penile swab...
I'm looking at you, FAZ....
Oh FAZ- is it too much to ask for you to be solidly green 2 days in a row?
ain't that a shame. You wonder if Eric Holder is an attorney general or statue. We are going to find out.
Are those the only choices I get?
Fuck em!!!
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
This just made my day. I am sitting on 5 puts for June 2012 at 33. I am going to be rich.
ha, bye bye premium.
would sell as soon as you hit your price target.
Some retaliation on the PM markets also. BTD.
War is hell.
Dimon's confidence comes from the belief that the masses are too ignorant and will never catch on to their fraudulent ways.
The sell off in financials should be far faster and worse than it is. Did QE just go full stealth?
Yes. Notice that OIL is not selling off by the way. Another war tell.
Alright made it to 3pm w/o a crash!
All clear to go long!
Sarc off/
$1.50, $1.50!?
Do I hear $1.25, $1.25!?
tvix acting poorly lately, still down even today!!
oh, never mind.
nope, finished down. So volatility went down today if I am reading this correctly. geez.
GS is down more than JPM ....
Anybody seen Robotroll? Wasn't he pushing JPM not too long ago?
Nice Tylers.........Now everybody go out and buy an ounce of silver right now and let's crash this Morgue bitch...
Probed? We want prosecutions!
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.
gaping damages..
JPM moved fast on the MF owned LME and also won the bid for RBS Sempra
We know how this ends
JPM pays a $50 fine, admits it did nothing wrong, and done.
Bob - you need to type "SPOILER ALERT" at the front of your message if you are going to tell how something ends.
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.
Can we hold this Probe meeting in the JPM Comex vault? I'm sure there's lots of room.
The purpose of the takedown was to keep the amount of space available in comex vaults private.
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.
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.
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.
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?
question of the day: Where is the money...??
Can ZH print that on a t-shirt..
Better on a g string!
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?
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.
isn't JPM the government? if JPM goes, what will A-HOLE oBLAHma do? i'll go get the rope!
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
"calm down you guys it was only 100 million we steal more than that every day"
ASHO.TA is having one hell of a run though
No worry, Dimon got connections.
yeah,... early retirement
Corzine-Dimon cellmates?
Who is going to be the bitch!
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!
BAC is also getting slammed. Seems the financials don't care too much for the Bernanke's statement this afternoon.
BAC is reacquainting itself with $5
yeah, but won't drop below. One of the anointed banks.
JPM Morgan saw they were over leveraged and exposed and took them down
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..
Saved people some laughs more likely. People here hold physical, no sellers here, pal. Back to your GLD silly trader....
How the fuk do you know asshat? When did u first buy gold? 2010? Or is that a bit early?
Someone lost money on gold?
Yeah. like most people on this board, unfortunately.
Any evidence you can provide for that statement?
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).
So no.
Look, you and I know that anyone who is bullish is most likely long. Unless perhaps he's not an active.
Which would describe more of the ZH population.
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.
You may not know this board. Many of us are longs and bought in most of our stash a long time ago.
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)
Ouch, ouch, ouch.
Paper gold/silver getting a good thrashing ... $1,625/oz down $39 and $30.50/oz down $0.78.
Look there, the Dow is starting the last ditch ramp up before closing..
must. reach. 12000.. must reach. 12000..
I see you had huge positions in EUS>USD today. Also played dirty launching roomers.
Oh, my. That's gonna leave a mark.
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.
death throws.
Tyler....just want to thank you in advance for the site before the Feds pull the plug on you.
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*
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.
jpm tanks sector lol
JPM == Just Pay Me (now bitch).
Where there's smoke, there's fire.
We're gonna get you, Jamie.
Some nice manipulation at the close today. Down 103... No wait fix that. Down 68!!
OK boys - everybody form a circle. Face the center. Raise your weapons. Ready. Aim. Fire.
i would have prefered the letter bomb approach...
but, i'll wait to see how this plays out first.........
Great.
I made 6k with JPM today.
Thanks ZH
I think the missing Money leads to JPM. I would bet my bottom dollar that is where it is.
I hope JP Morgan gets Probed.
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."
Nice thought, but the only court any JPM executive will see is the food court at their corporate office...
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?
Oh SNAP !!!!
What if it's determined they commingle this shit with the money set-aside for food stamps?
what better way to starve off a population than
to defraud the farmer who feeds them?
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.