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JPM To Be Subpoenaed Over Defunct PFG's Missing Segregated Money

Tyler Durden's picture





 

The blunt trauma that JPMorgan was implicated in the missing millions from segregated accounts in Jon Corzine's bankrupt MF Global may have passed but the memory lingers, especially for all those whose cash is still locked up somewhere in vapor space. Yet one event that may tear the scab that patiently was healing, courtesy of a Copperfield market full of distractions such as JPM's CIO fiasco, Lieborgate, oh and, Europe, right off is the recent bankruptcy of Peregrine Financial, aka PFG, whose story we first broke, and which just as we suspected, has promptly become the second coming of MF Global, as at least $200 million has "evaporated." It is thus with little surprise that we find that the first party of interest is none other than JPMorgan, which together with various other banks, will be the target of a subpoena by the PFG trustee. How shocking will it be to find that Dimon's company is once again implicated in this particular episode of monetary vaporization.

From Bloomberg:

The trustee liquidating Peregrine Financial Group Inc. asked a judge for authority to subpoena the defunct futures brokerage’s banks including JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) for information about transfers from segregated accounts and proprietary accounts.

 

Citing a lawsuit by the U.S. Commodity Futures Trading Commission against the company and founder Russell Wasendorf Sr. over misappropriation of customer funds, the trustee said he needs records from “various financial institutions” to identify “abnormalities” in the company’s records.

 

The trustee liquidating Peregrine Financial Group Inc. asked a judge for authority to subpoena the defunct futures brokerage’s banks including JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) for information about transfers from segregated accounts and proprietary accounts.

 

Citing a lawsuit by the U.S. Commodity Futures Trading Commission against the company and founder Russell Wasendorf Sr. over misappropriation of customer funds, the trustee said he needs records from “various financial institutions” to identify “abnormalities” in the company’s records.

And while Jamie Dimon may have to spend another 2-3 hours before his muppets explaining how a few hundred million in PFG cash just may have ended up on his balance sheet, with nobody gaining anything, except for C-Span once again beating all other TV channels in the 10 am-12 pm block, the one definitive winner from this, and all the other unraveling financial fraud is more than clear:

[The trustee] asked the judge to set up procedures for paying his fees and expenses, and said he is seeking to hire as bankruptcy adviser Shaw Gussis Fishman Glantz Wolfson & Towbin LLC, the law firm where works, at rates of as much as $650 an hour.

This is money that ultimately would have gone to creditors and clients of the firm in liquidation. Instead it will go to funding yet another witch hunt which will achieve absolutely nothing, however it will, briefly, hopes of a few thousand traders and farmers who had entrusted their money to a criminal whom the CFTC could not catch for 20 years. All those hopes will, in the end, be dashed because if there is one thing the past 4 years have taught us, is that in America the bigger the crime, the greater the golden parachute.

 


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Tue, 07/31/2012 - 23:38 | Link to Comment tsx500
tsx500's picture

SUCK IT DIMON !!!

Tue, 07/31/2012 - 23:40 | Link to Comment HoofHearted
HoofHearted's picture

Fuck you, Jamie Dimon. In the ass, and with no lubrication.

Wed, 08/01/2012 - 00:10 | Link to Comment sitenine
sitenine's picture

It's actually us who are getting it up the ass.  Corzine and Dimon will never do a perp walk, and we will get no lubrication.  Why the fuck are we letting them get away with this shit?  When will we stop this madness?!?

Wed, 08/01/2012 - 00:12 | Link to Comment iDealMeat
iDealMeat's picture

Get to know them:  Primary Dealers of the FED

Wed, 08/01/2012 - 00:27 | Link to Comment flacon
flacon's picture

Thank God they purged MF Global. The rest are AAA+ rated. Whooo Hoooo!

Wed, 08/01/2012 - 00:31 | Link to Comment AldousHuxley
AldousHuxley's picture

even greedspan says “If they’re too big to fail, they’re too big,” Greenspan said today. “In 1911 we broke up Standard Oil — so what happened? The individual parts became more valuable than the whole. Maybe that’s what we need to do.”

 

“Failure is an integral part, a necessary part of a market system,” he said. “If you start focusing on those who should be shrinking, it undermines growing standards of living and can even bring them down.”

 

WE ARE SUBSIDIZING BANKSTERS WHO ARROGANTLY BELIEVE THEY'VE EARNED THEIR BONUSES

 

http://www.bloomberg.com/apps/news?pid=email_en&sid=aJ8HPmNUfchg

Wed, 08/01/2012 - 00:38 | Link to Comment JPM Hater001
JPM Hater001's picture

Hey Durden

There's an extra 5g's if you can score me front row seats,

Wed, 08/01/2012 - 00:41 | Link to Comment strannick
strannick's picture

You get enough tempests in enough teapots, and soon you have a problem

Wed, 08/01/2012 - 00:52 | Link to Comment AldousHuxley
AldousHuxley's picture

Top BUSH 2004 contributors

Morgan Stanley $603,480 Merrill Lynch $586,254 PricewaterhouseCoopers $514,250 UBS AG $474,325 Goldman Sachs $394,600 Lehman Brothers $361,525 MBNA Corp $350,350 Credit Suisse Group $326,040 Citigroup Inc $320,820 Bear Stearns $313,150

 

Top OBAMA 2008 contributors

University of California $1,648,685 Goldman Sachs $1,013,091 Harvard University $878,164 Microsoft Corp $852,167 Google Inc $814,540 JPMorgan Chase & Co $808,799 Citigroup Inc $736,771

 

Top ROMNEY 2012 contributors

Goldman Sachs $636,080 JPMorgan Chase & Co $502,874 Morgan Stanley $476,300 Bank of America $465,850 Credit Suisse Group $421,310 Citigroup Inc $345,265 Barclays $322,400 Kirkland & Ellis $295,042 Wells Fargo $276,700

 

You want change? election anyone who is not supported by the banks.

Wed, 08/01/2012 - 01:17 | Link to Comment nope-1004
nope-1004's picture

JPig already swallowed up those funds.  They're gone.  Sure, subpoena... put on a show.... make it look good.  But the truth is JPig already digested those funds and will never return them.  A pig is a pig, until death.

 

Wed, 08/01/2012 - 01:47 | Link to Comment Michael
Michael's picture

The only thing the mainstream media does is try to mind control and brainwash you into believing their corporate prescribed fantasy. That's why their ratings are at all time lows, people are seeing through their bullshit, thank God.

George Carlin : The game is rigged

George Carlin's Greatest Moment

http://www.youtube.com/watch?v=wV1lZMTCqf8&feature=player_embedded

Wed, 08/01/2012 - 05:11 | Link to Comment AldousHuxley
AldousHuxley's picture

I like George Carlin, but also Eddie Griffin...

Television Programing....

 

http://www.youtube.com/watch?v=Pv-GTna6VAY

Wed, 08/01/2012 - 06:15 | Link to Comment disabledvet
disabledvet's picture

You can't win. They give you cancer...then you die. Americans are happy people when they get cancer and die so...don't worry about it!

Wed, 08/01/2012 - 06:41 | Link to Comment zhandax
zhandax's picture

Wouldn't know; those of us who refuse to eat shit and drink fluoride haven't had it happen yet.....

Wed, 08/01/2012 - 07:40 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

In other news. JPM has announced a prolonged vacation....in France.

 

Wed, 08/01/2012 - 16:59 | Link to Comment Remington IV
Remington IV's picture

Hugo Chavez
Fidel Castro
Robert Mugabe

Wed, 08/01/2012 - 00:53 | Link to Comment Divine Wind
Divine Wind's picture

 

 

Trying to bribe Tyler?

With 5 grams of whiff?

With his busted ass, bell pepper boxing nose?

Sheeeeit.

Wait. You mean money?

Never mind.

Sorry T.

Wed, 08/01/2012 - 05:22 | Link to Comment malikai
malikai's picture

PBoC is missing from that list.

Perhaps it's time for the "Shadow PD list" to be created.

Wed, 08/01/2012 - 00:40 | Link to Comment Daily Bail
Daily Bail's picture

You might have already seen this, but calls for a Corzine Special Prosecutor are growing.  I'm not predicting his indictment just yet, but things are getting messier for Jon:

CORZINE CRONYISM BOMBSHELL - High Ranking DOJ Lawyers And AG Eric Holder Were Partners In Firm That Represented MF Global

Wed, 08/01/2012 - 01:08 | Link to Comment sitenine
sitenine's picture

Special Prosecutor?  Yeah, I heard that, but if Holder prosecutes Corzine, then he would be in deeper shit than Corzine.  Holder is still reeling back from the fallout on Fast and Furious.  Just say'n...

Wed, 08/01/2012 - 01:24 | Link to Comment Divine Wind
Divine Wind's picture

 

 

I am just spitballing here, but I think the list of Executive Pardons being signed by POTUS in the final days and hours in office will be long and controversial.

This is common for ALL administrations, but I get the feeling the Obama administration will be particularly prolific.

Entry on that list is incredibly expensive unless your need for a pardon happens to be related to a place the shadow of the USGOV falls and you are close enough to the Oval Office..

AG Holder and Corzine are made men. They know where the skeletons are.

Neither will prosecuted. Nothing will happen.

Unless Romney really blows it, Obama will be seeking a new challenge in just a few short months anyhow.

This is not enough time to get anything in DC accomplished.

 

 

Wed, 08/01/2012 - 02:01 | Link to Comment jeff montanye
jeff montanye's picture

it's not enough time to get anything useful accomplished.  

however as the last two administrations showed, in half a year you can

establish the outlines of a police state

or start a war or two

or transfer trillions to the masters of the greatest control fraud in history

or make it all bipartisan

or fill in those outlines in elaborate detail

or transfer trillions more

or pass legislation absolving them of crime.  

Wed, 08/01/2012 - 05:42 | Link to Comment malikai
malikai's picture

Everyone see now? Obama really did mean "Change".

Wed, 08/01/2012 - 07:42 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

He seems almost like a messiah........almost.

 

Wed, 08/01/2012 - 10:11 | Link to Comment blunderdog
blunderdog's picture

Really?  Looks like all the same shit to me.

Wed, 08/01/2012 - 08:57 | Link to Comment lightning
lightning's picture

I am not sure, but I think that you can't pardon someone who hasn't been convicted of an offense.  Obama has done such a good job at shielding his people, that if Romney wanted to look tough he could start prosecutions once in office and Obama couldn't do squat.  Mind you, I think Romney prosecuting people is as likely as flying pink pigs.

Tue, 07/31/2012 - 23:46 | Link to Comment dannyboy
dannyboy's picture

I think its more clients that are now sucking down dimon.. to the tune of $200mil

Tue, 07/31/2012 - 23:39 | Link to Comment Conman
Conman's picture

At this point its painfully obvious that banks should be broken up and reduced to utlities. Sandy Weill is right, not exactly the ideal spokesman,but late is better than never.

Wed, 08/01/2012 - 00:15 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

At this point, maybe it's best that they're just burned down.

Wed, 08/01/2012 - 00:31 | Link to Comment dolph9
dolph9's picture

I disagree.  Remember, repentance only comes to these folks when they are retired with hundreds of millions.  Then they magically "see the light."

You and I both know what needs to be done with them.  But it won't happen until the system collapses, and by that time they'll have farmland in Brazil and Argentina locked up.

Wed, 08/01/2012 - 00:35 | Link to Comment erik
erik's picture

French Transaction Tax starts tomorrow

http://in.reuters.com/article/2012/07/31/france-transactions-tax-idINL6E...

It will be very, VERY interesting to see how this turns out for the CAC 40.

Wed, 08/01/2012 - 06:19 | Link to Comment disabledvet
disabledvet's picture

this actually is news here. be interesting to see if it roils global markets actually. would be good news if it did of course.

Tue, 07/31/2012 - 23:43 | Link to Comment JohnKozac
JohnKozac's picture

Amusement for the Muppets & Sheeples, 'tis nothing more.

Wed, 08/01/2012 - 02:54 | Link to Comment JohnG
JohnG's picture

 

 

MFG/JPM STILL has 28% of MY MONEY.

I am NOT amused,  Neither are my attorneys,

Just lucky, I guess....that it was not transferred to PFG.  It could have been.

This is A LOT of margin money, and caused me a great deal of pain.  PAIN.

 

Wed, 08/01/2012 - 07:58 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Sorry to hear that.....you might want to consider a trip to France. I hear it's beautiful this time of year.

 

Tue, 07/31/2012 - 23:44 | Link to Comment Yen Cross
Yen Cross's picture

 J.P.M should be renamed area " 52 " ...

Tue, 07/31/2012 - 23:50 | Link to Comment Boilermaker
Boilermaker's picture

Absolutely nothing will come from this. Nada. Zilch.

Wed, 08/01/2012 - 00:08 | Link to Comment alien-IQ
alien-IQ's picture

Yup, And THAT"S the problem.

Wed, 08/01/2012 - 05:58 | Link to Comment Offthebeach
Offthebeach's picture

Wrong, they will be fined $100's of millions which means muppets stockholders will be butt prison raped by JPM . Lay down with Jammie, wake up with anal bleeding.

Wed, 08/01/2012 - 08:42 | Link to Comment spanish inquisition
spanish inquisition's picture

Worst case scenario is a small fine (1-4%) with no admittance of wrong doing settlement. We should apply the same system to armed robbery, that should help the crime rate go down.

 

Tue, 07/31/2012 - 23:53 | Link to Comment q99x2
q99x2's picture

Wars have been started over less.

Tue, 07/31/2012 - 23:55 | Link to Comment ebworthen
ebworthen's picture

Jamie Dimon behind closed doors with the Banking Subcommittee (Ron Paul absent - alllergic to assholes): 

"Listen boys and girls, I pay your way, I can make you or break you; blame the SEC and your fellow CONgresspeople's outside this committee or you end up grubbing for peanuts with the local news and real estate agents or scrubbing the bottom of the Hudson with your asses."

http://www.opensecrets.org/cmteprofiles/overview.php?cmteid=H05&cmte=HFIN&congno=112&chamber=H

If this isn't time for a revolution the clock must be broken.

Hang Jamie Dimon.

Wed, 08/01/2012 - 06:23 | Link to Comment disabledvet
disabledvet's picture

"don't worry, we can pay for that." eh. what can you do. Jamie Dimon is watching as the the wondrous bankster clique systematically dismantles his people and turns them into a bunch of raving lunatics slaughtering one another...so there can be more profit of course. I should say "government banking" actually because no true private sector bank would see what's going on in Greece as a victory for anyone. Anywho that could never happen in the USA...folks turning on each other like a bunch of wild animals "all in the name of show" of course "because some folks are so rich this is all they have for a life now." So far so good!

Tue, 07/31/2012 - 23:55 | Link to Comment moonstears
moonstears's picture

Lotsa sexual attraction to Dimon on this board tonight!!("suck", "fuck", Dimon etc) This will produce NOTHING, it's a ploy to CLEAR future Treasury Secretary, Dimon. Calm down.

Wed, 08/01/2012 - 04:01 | Link to Comment slaughterer
slaughterer's picture

Jamie is running for President of the USA 2016, not Treasury Secretary.  

Wed, 08/01/2012 - 05:16 | Link to Comment malikai
malikai's picture

A man of his class, sature, and respect should only be Emperor.

Tue, 07/31/2012 - 23:55 | Link to Comment valkir
valkir's picture

FYB,oh Jamie you too,Jon Corzine,little bastard you as well.But what i wish will not change anything.Tomorrow Benny will mumble,cartell will smash the gold,sheeple will go on vacations,and post office will go bankrupt.Nothing new...

Wed, 08/01/2012 - 00:04 | Link to Comment Lednbrass
Lednbrass's picture

Absolutely nobody could have seen this coming.

Wed, 08/01/2012 - 06:01 | Link to Comment Offthebeach
Offthebeach's picture

Now's a time to buy.

Wed, 08/01/2012 - 00:05 | Link to Comment patb
patb's picture

a 20 year fraud makes it impossible to track where the bad trades happened.

Now in MF Global, it was one illegal cover of a derivatives bet,  but at PFG?  what's the point.

 

just indict the top people

 

Wed, 08/01/2012 - 00:05 | Link to Comment alien-IQ
alien-IQ's picture

If someone were to chop Jamie Dimons' head off and use it as a soccer ball in Times Square, would more than 16% of Vanity Fair readers know his name then?

Wed, 08/01/2012 - 00:20 | Link to Comment sitenine
sitenine's picture

I highly doubt it.  Those who are tuned out so far as to be reading Vanity Fair have very little chance of waking up any time soon.

Wed, 08/01/2012 - 00:44 | Link to Comment Fail2Deliver
Fail2Deliver's picture

I would watch that soccer match

Wed, 08/01/2012 - 02:19 | Link to Comment James_Cole
James_Cole's picture

Stating the obvious - it wasn't a poll of Vanity Fair readers, it was a poll BY 60mins/ Vanity Fair of Americans.

As Dimon / JPM have been featured in a number of VF articles & letters from the editor over the past few years I'm sure most VF readers know who he is.

Wed, 08/01/2012 - 00:08 | Link to Comment tmosley
tmosley's picture

MF'd, bitchez.

Wed, 08/01/2012 - 07:55 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Yeah.....AGAIN!

 

Wed, 08/01/2012 - 00:14 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

the FED giveth, and the Fed (via JPM/Dimon) taketh away......

 

Seems fitting and keeps inflation low.....Fed creates money, loans it out, people invest it, then it just 'evaporates'....wahlah.

Wed, 08/01/2012 - 03:06 | Link to Comment JohnG
JohnG's picture

That's voila "lawyer."

Inflation is raging BTW.

Wed, 08/01/2012 - 00:20 | Link to Comment Dingleberry
Dingleberry's picture

How many times will we hear "I can't recall" in the deposition?  Is a  billion dollars really that much to JPM? They wipe their asses with more than that.  I guess their insatiable greed cannot be satisfied.

Wed, 08/01/2012 - 08:32 | Link to Comment icanhasbailout
icanhasbailout's picture

A billion here, a billion there, and soon you're talking enough to stuff in a wheelbarrow and buy a loaf of bread.

Wed, 08/01/2012 - 00:28 | Link to Comment dolph9
dolph9's picture

When do the Jews start turning on each other and abandoning the blacks is my question.

Was Madoff the precursor?

It'll be interesting to see if they try to run to Latin America and Asia.  Though I doubt they'll ever find anything as good as America was.

Wed, 08/01/2012 - 00:23 | Link to Comment StrawberryBlonde
StrawberryBlonde's picture

BUT, BUT, BUT...JPM doesn't ask its clients/depositors where their money is coming from (according to Dimon in his prior testimony).

Wed, 08/01/2012 - 00:34 | Link to Comment sitenine
sitenine's picture

Absolutely true.  Curious though, that if I deposited, say $50,000 cash, into my own account tomorrow morning, I would be asked where the fuck I got the money from; and if my answer was inadequate I would be immediately reported to the feds on suspicion of something or other.  Curious, indeed.  You smell that?  I think it's bull shit, and that Dimon fuck is covered with it.  I'm sick of these clowns getting away with grand larceny while us little guys are suffering the boot of financial oppression!  It isn't right, and it has to stop!

Wed, 08/01/2012 - 03:11 | Link to Comment JohnG
JohnG's picture

 

 

It's $3,000 now (recent change, was 10, then 5) and the bank would file a CCR anyway, and not tell you.  It is illegel for them to do so.

Don't use banks.

Wed, 08/01/2012 - 05:15 | Link to Comment same old story
same old story's picture

how are you going to cash a big check?

Wed, 08/01/2012 - 07:30 | Link to Comment PMakoi
PMakoi's picture

That's a good question!  Maybe we should all ask our paymasters if we can receive cash every week?  Why are we obligated to accept checks anyway??

Wed, 08/01/2012 - 00:26 | Link to Comment Dr. Engali
Dr. Engali's picture

Maybe Jamie can be called in front of congress for more investment and regulation advice.

Wed, 08/01/2012 - 00:30 | Link to Comment potlatch
potlatch's picture

I just tell myself, JPM is the table-running dude who yells "oooo too bad, snake eyes" as he rakes in the dice and all the dollar bills and chips on the table and everyone walks away a loser.

 

And then they come back for another toss.

 

this makes it ez to understand.  But I don;t get the whole "snake eyes" bit.  I think they just made it up.

 

 

Wed, 08/01/2012 - 01:06 | Link to Comment JuicedGamma
JuicedGamma's picture

I don't know what game you are playing, but last I checked snake eyes only loses for new money on the come line, etc. Sevens is where the "dude" rakes up all the money. Stay away from dice.

But Why quibble about a detail, snake eyes makes for a better story, A+ for taking artistic license.

Wed, 08/01/2012 - 00:35 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Forget about subpoenas for JPM pencil pushers... Obama, Brenanke, thousands of top traitors, and the majority of Congress are about to get indicited for dereliction of duty and crimes against the Constitution after the MASS ARRESTS take place... http://tinyurl.com/cd5cyjo/

Wed, 08/01/2012 - 00:37 | Link to Comment sitenine
sitenine's picture

+1 for the optimism

Wed, 08/01/2012 - 01:01 | Link to Comment Lednbrass
Lednbrass's picture

He says the same thing every time but I don't know where the positive attitude comes from- I seem to be watching a different country.

Good to know that someone is hopeful I guess.

Wed, 08/01/2012 - 03:59 | Link to Comment Haager
Haager's picture

Hopium, once more?

 

Or wouldn't it be more helpful to let the lower 50% know why they are in such a bad financial situation, telling them what they can do to overcome the situation?

Wed, 08/01/2012 - 10:14 | Link to Comment blunderdog
blunderdog's picture

Humor, ar ar!

Wed, 08/01/2012 - 15:25 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Let me guess... you've never shouldered a rifle and taken the oath to defend the Constitution.

Wed, 08/01/2012 - 00:46 | Link to Comment vincent
vincent's picture

"The Dime" will be exiting shortly.

It's already in the cards.

Wed, 08/01/2012 - 00:57 | Link to Comment Rick64
Rick64's picture

The banks are in the hot seat until the election is over, then 200M fine and all is forgotten.   Another dog and pony show courtesy of your bought and paid for politicians.

Wed, 08/01/2012 - 00:58 | Link to Comment OldE_Ant
OldE_Ant's picture

Here is one for Tyler to mull over, because this article is what inspired the thought/question/comment.

If one took a look at every piece of paper in the world, ask (question) how many times has that paper (and money associated with it) passed through the hands of the Morgan Stanley, Citibank Lehman, or whomever either via a derivative, or on it's own.

I'd bet some money that each company alone has directly or indirectly had their hands on virtually every paper product that is out there at one time or another, either through a trading desk, derivatives underwriting, purchasing or sales contract, rebundling, whatever..

What this means is that every foreclosure or bankruptcy coming up will invariably lead - guess where --->

to TBTF company books.

So no-one get suprised if we see more of this crap come up just because of the sheer magnitude of the TBTF hands on the worlds paper, and financial trails.

The TBTF are like the financial CPUs where all financial monies/data must be 'processed' (ahem skimmed) hence all trails will invariably lead to them.

I'm really curious though how much of the world paper passes through the TBTF hands - as well as the average number of times the 'same' paper repassed through the TBTF banks as this will tell us the odds any bankruptcy or foreclosure will lead to these kinds of headlines.

End of Line

Wed, 08/01/2012 - 01:22 | Link to Comment AgShaman
AgShaman's picture

It happens alot.....to alphabet agencies...

otherwise known as banks....otherwise known as govt

Wed, 08/01/2012 - 03:10 | Link to Comment Al Capowned
Al Capowned's picture

The tape worm strikes again, get the cuff links back out the drawer!

The world has never seen financial crime on this scale it's unreal !

Wed, 08/01/2012 - 06:16 | Link to Comment Racer
Racer's picture

All those hopes will, in the end, be dashed because if there is one thing the past 4 years have taught us, is that in America the bigger the crime, the greater the golden parachute.

Never a truer statement and in the meantime the rest of us get fleeced and criminalised for just breathing.. in the UK they have given powers to a company that allows them to take you to court if you fail to tell them you have done nothing on your own property!!!!!!! and you will have to pay the costs as well!!!!! That is a FACT!

Wed, 08/01/2012 - 07:15 | Link to Comment OneEyedJack
OneEyedJack's picture

They get the golden parachute

We get the  golden shower

Wed, 08/01/2012 - 06:28 | Link to Comment disabledvet
disabledvet's picture

600 million folks in India without power. Hmmmmm. HEY, THERE'S A PROBLEM TO SOLVE AMERICA! (buy GE folks...not everyone is a useless, lazy retard. Besides...if you thought our Government was the worst ever...APPARENTLY WE HAVE A COMPETITOR! I'm sure there's more waiting in the wings. "there's always another new low" as they say.)

Wed, 08/01/2012 - 10:18 | Link to Comment blunderdog
blunderdog's picture

600 million in India without power is kinda like 25 million Americans without cable.  Heh.

Wed, 08/01/2012 - 06:40 | Link to Comment negative rates
negative rates's picture

Bernie should never have turned hisself in, he could have simply claimed "vaporized profits" and walked away.

Wed, 08/01/2012 - 07:12 | Link to Comment fijisailor
fijisailor's picture

Expect an insignificant slap on the hand.

Wed, 08/01/2012 - 07:35 | Link to Comment dcb
dcb's picture

dimon: hear no evil, speak no evil, say , see no evil. fauad as a business modled in the fiancial idustry remain the norm/

Wed, 08/01/2012 - 07:53 | Link to Comment j0nx
j0nx's picture

Reelection campaigns don't finance themselves bitches. JPM just doing the messiah's work is all. Don't be hatin'.

Wed, 08/01/2012 - 08:27 | Link to Comment ZeroPoint
ZeroPoint's picture

How long will it be before JPMorgan steals from someone that has enough juice to take them down?

Wed, 08/01/2012 - 10:17 | Link to Comment Jim B
Jim B's picture

Have they talked to Corzine yet? I suspect not!  

 

It pays to be a connected crony! 

Wed, 08/01/2012 - 10:24 | Link to Comment Atlantis Consigliore
Atlantis Consigliore's picture

I smell blood in the water. (Lehman) Lets go F####K someone in the futures industry.

Wed, 08/01/2012 - 21:32 | Link to Comment papaclop
papaclop's picture

I'm so sick of JP Morgan getting away with all these financial crimes because they've got the politicians in their pockets.  JP Morgan is like a big fat tick on the ass of America's finances.

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