Update: JPMORGAN SAYS IT DOESN'T HAVE MF GLOBAL MISSING MONEY. Ok, now we need to check with JT Marlin
Last week we heard of glitches which resulted in Germany finding $55.5 billion in missing "debt" and a €3.6 billion error in Irish debt. It was only a matter of time before MF Global also uncovered a "glitch"
- MF ACCOUNT WITH $658.8M IN CLIENT FUNDS SAID TO BE AT JPMORGAN
- MF GLOBAL'S MISSING CLIENT FUNDS SAID TO BE LOCATED AT JPMORGAN
Ignore the fact that MF admitted it had commingled and abused client funds. After all, the big boys take care of their own. And what is $660 million to JPM? Here's what - less than the taxpayer money profit the bank makes on one POMO.
And yes, absolutely nobody could have seen this coming: