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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 | 1975358 ABG LINE
ABG LINE's picture

LoL!

 

Tue, 12/13/2011 - 15:58 | 1975399 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 | 1975427 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 | 1975464 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 | 1975483 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 | 1975548 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 | 1976269 Hard1
Hard1's picture

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

Tue, 12/13/2011 - 19:32 | 1976474 J 457
J 457's picture

Great call ZH.

Tue, 12/13/2011 - 22:01 | 1976969 Papasmurf
Papasmurf's picture

That was a key consideration in this planned takedown.

Tue, 12/13/2011 - 16:31 | 1975557 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 | 1975679 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 | 1975726 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 | 1975821 Haddock
Haddock's picture

He said 'investigating' - so I junk you

Tue, 12/13/2011 - 17:53 | 1976027 Doña K
Doña K's picture

Then why did I get junked?

Tue, 12/13/2011 - 18:32 | 1976235 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 | 1976204 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 | 1977799 StychoKiller
StychoKiller's picture

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

Tue, 12/13/2011 - 17:21 | 1975794 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 | 1975485 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 | 1977384 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 | 1977385 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 | 1977567 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 | 1975406 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 | 1975441 LawsofPhysics
LawsofPhysics's picture

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

Tue, 12/13/2011 - 16:44 | 1975614 sullymandias
sullymandias's picture

did you mean "macasitic"?

Tue, 12/13/2011 - 22:38 | 1977080 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 | 1976415 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 | 1975451 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 | 1975476 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 | 1975551 fuu
fuu's picture

Good call.

Wed, 12/14/2011 - 01:20 | 1977607 Tijuana Donkey Show
Tijuana Donkey Show's picture

longpig! Roast some long pig!

Tue, 12/13/2011 - 16:31 | 1975556 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 | 1977722 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 | 1975360 ZDRuX
ZDRuX's picture

Man, this was an exciting day...

Tue, 12/13/2011 - 15:54 | 1975364 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 | 1975555 tekhneek
tekhneek's picture

Come on. Don't be FAZetious.

Tue, 12/13/2011 - 15:54 | 1975366 prains
prains's picture

oops somebody dropped the soap

Tue, 12/13/2011 - 16:02 | 1975425 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 | 1975367 digitlman
digitlman's picture

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

Tue, 12/13/2011 - 15:54 | 1975368 junkyardjack
junkyardjack's picture

Ruh Roh Rhaggy

Tue, 12/13/2011 - 15:57 | 1975393 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 | 1975506 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 | 1975813 tocointhephrase
tocointhephrase's picture

oh it has to be a +1

Tue, 12/13/2011 - 15:54 | 1975369 walcott
walcott's picture

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

Tue, 12/13/2011 - 17:09 | 1975707 MsCreant
MsCreant's picture

Bastards probably shorted themselves.

Tue, 12/13/2011 - 15:56 | 1975372 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 | 1975389 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 | 1975712 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 | 1976139 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 | 1977616 Tijuana Donkey Show
Tijuana Donkey Show's picture

And Wall Mart.....

Tue, 12/13/2011 - 16:09 | 1975454 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 | 1977108 smiler03
smiler03's picture

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

Tue, 12/13/2011 - 17:27 | 1975840 tocointhephrase
tocointhephrase's picture

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

Tue, 12/13/2011 - 16:01 | 1975376 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 | 1977801 StychoKiller
StychoKiller's picture

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

Tue, 12/13/2011 - 15:55 | 1975378 Hicham
Hicham's picture

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

Tue, 12/13/2011 - 16:26 | 1975531 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 | 1975381 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 | 1975473 astoriajoe
astoriajoe's picture

Are those the only choices I get?

Tue, 12/13/2011 - 15:56 | 1975382 Hippocratic Oaf
Hippocratic Oaf's picture

Fuck em!!!

Tue, 12/13/2011 - 15:56 | 1975385 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 | 1975386 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 | 1975709 Oztralian
Oztralian's picture

ha, bye bye premium.

Wed, 12/14/2011 - 05:49 | 1977879 ucsbcanuck
ucsbcanuck's picture

would sell as soon as you hit your price target. 

Tue, 12/13/2011 - 15:57 | 1975390 Conax
Conax's picture

Some retaliation on the PM markets also.   BTD.

Tue, 12/13/2011 - 17:11 | 1975718 MsCreant
MsCreant's picture

War is hell.

Tue, 12/13/2011 - 15:57 | 1975396 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 | 1975413 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 | 1975599 LawsofPhysics
LawsofPhysics's picture

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

Tue, 12/13/2011 - 16:01 | 1975417 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 | 1975419 ebworthen
ebworthen's picture

 

 

$1.50, $1.50!? 

Do I hear $1.25, $1.25!?

Tue, 12/13/2011 - 16:02 | 1975424 Frank N. Beans
Frank N. Beans's picture

tvix acting poorly lately, still down even today!!

 

Tue, 12/13/2011 - 16:38 | 1975588 Frank N. Beans
Frank N. Beans's picture

oh, never mind.

Tue, 12/13/2011 - 17:09 | 1975711 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 | 1975445 chistletoe
chistletoe's picture

GS is down more than JPM ....

Tue, 12/13/2011 - 16:07 | 1975449 Dr. Engali
Dr. Engali's picture

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

Tue, 12/13/2011 - 16:08 | 1975453 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 | 1975458 sitenine
sitenine's picture

Probed? We want prosecutions!

Tue, 12/13/2011 - 17:17 | 1975763 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 | 1977621 Tijuana Donkey Show
Tijuana Donkey Show's picture

gaping damages..

Tue, 12/13/2011 - 16:10 | 1975461 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 | 1975465 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 | 1975533 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 | 1975657 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 | 1975468 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 | 1976987 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 | 1975470 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 | 1975491 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 | 1975492 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 | 1975590 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 | 1975471 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 | 1975894 tocointhephrase
tocointhephrase's picture

Better on a g string!

Tue, 12/13/2011 - 16:14 | 1975478 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 | 1975490 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 | 1975499 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 | 1975501 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 | 1975507 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 | 1975510 SilverRhino
SilverRhino's picture

ASHO.TA is having one hell of a run though

Tue, 12/13/2011 - 16:22 | 1975513 YesWeKahn
YesWeKahn's picture

No worry, Dimon got connections.

Tue, 12/13/2011 - 16:41 | 1975602 earleflorida
earleflorida's picture

yeah,... early retirement

Tue, 12/13/2011 - 16:24 | 1975520 digalert
digalert's picture

Corzine-Dimon cellmates?

Tue, 12/13/2011 - 17:36 | 1975903 tocointhephrase
tocointhephrase's picture

Who is going to be the bitch!

Tue, 12/13/2011 - 16:28 | 1975539 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 | 1975540 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 | 1975670 junkyardjack
junkyardjack's picture

BAC is reacquainting itself with $5

Wed, 12/14/2011 - 05:51 | 1977881 ucsbcanuck
ucsbcanuck's picture

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

Tue, 12/13/2011 - 16:32 | 1975561 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 | 1975563 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 | 1975594 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 | 1975637 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 | 1975666 fuu
fuu's picture

Someone lost money on gold?

Tue, 12/13/2011 - 17:15 | 1975750 zenon
zenon's picture

Yeah. like most people on this board, unfortunately.

Tue, 12/13/2011 - 17:20 | 1975783 fuu
fuu's picture

Any evidence you can provide for that statement?

Tue, 12/13/2011 - 17:39 | 1975921 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 | 1976005 fuu
fuu's picture

So no.

Tue, 12/13/2011 - 18:04 | 1976086 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 | 1976218 fuu
fuu's picture

Which would describe more of the ZH population.

Tue, 12/13/2011 - 18:55 | 1976357 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 | 1975797 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 | 1975564 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 | 1975586 PaperBear
PaperBear's picture

Ouch, ouch, ouch.

Tue, 12/13/2011 - 16:43 | 1975612 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 | 1975629 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 | 1975636 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 | 1975642 Mark701
Mark701's picture

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

Tue, 12/13/2011 - 17:04 | 1975655 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 | 1977082 navy62802
navy62802's picture

death throws.

Tue, 12/13/2011 - 16:58 | 1975665 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 | 1975686 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 | 1975668 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 | 1975669 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

jpm tanks sector lol

Tue, 12/13/2011 - 17:01 | 1975674 Fish Gone Bad
Fish Gone Bad's picture

JPM == Just Pay Me (now bitch).

Tue, 12/13/2011 - 17:01 | 1975677 Sutton
Sutton's picture

Where there's smoke, there's fire.

We're gonna get you, Jamie.

Tue, 12/13/2011 - 17:03 | 1975685 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 | 1975690 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 | 1975752 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 | 1975897 paul_Liu
paul_Liu's picture

Great.

I made 6k with JPM today.

 

Thanks ZH

Tue, 12/13/2011 - 17:37 | 1975913 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 | 1976298 Dre4dwolf
Dre4dwolf's picture

I hope JP Morgan gets Probed.

 

Tue, 12/13/2011 - 18:49 | 1976335 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 | 1976459 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 | 1976577 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 | 1976592 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 | 1976739 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 | 1985488 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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