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Keyword: jpmorgan

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  • Judge reopens FOIA case on Hillary Clinton aide Abedin (Huma)

    06/20/2015 8:23:41 AM PDT · by PROCON · 15 replies
    politico ^ | June 19, 2015 | JOSH GERSTEIN
    Reacting to the disclosure that Hillary Clinton exclusively used a private email account during her tenure as secretary of state, a federal judge agreed Friday to reopen a conservative group's Freedom of Information Act lawsuit seeking details about the employment arrangements of top Clinton aide Huma Abedin. However, U.S. District Court Judge Emmet Sullivan declined — for now — to address claims from Judicial Watch that Clinton's use of the private account and server led State Department officials to commit a fraud on the court by certifying they had turned over all responsive records.
  • HSBC Joins JPMorgan: Prepares To Unveil Up To 20,000 Job Cuts

    06/01/2015 12:03:13 PM PDT · by SeekAndFind · 4 replies
    Zero Hedge ^ | 06/01/2015 | Tyler Durden
    The banking system must be doing great... just days after JPMorgan announced mass layoffs, SkyNews reports that HSBC is preparing to announce a revised headcount target, which insiders said that it was likely to be between 10,000 and 20,000 job cuts. As Sky News reports, HSBC will next week set out plans to cut thousands more jobs across its global workforce as it tries to reassure shareholders that its focus on costs remains undiminished after a series of reputational crises. Sky News understands that Stuart Gulliver, HSBC's chief executive, will set out a revised target for headcount reductions that will be...
  • Why Is JP Morgan Accumulating The Biggest Stockpile Of Physical Silver In History?

    04/28/2015 8:59:46 AM PDT · by SeekAndFind · 30 replies
    TEC ^ | 04/28/2015 | Michael Snyder
    Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great investment. But in recent times, the price of silver has actually fallen quite a bit. As I write this, it is sitting at the ridiculously low price of $15.66 an ounce. So up to this point, JP Morgan’s investment in silver has definitely not...
  • Billionaires Dumping Stocks, Economist Knows Why

    02/26/2015 12:18:13 PM PST · by Citizen Zed · 52 replies
    newsmax ^ | 2-26-2015
    A handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Buffett’s holding company, Berkshire Hathaway, has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold...
  • JPMorgan to close 5% of its bank branches

    02/25/2015 1:31:46 PM PST · by SeekAndFind · 10 replies
    CNBC ^ | 02/25/2015
    JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs. The closures are part of a $1.4 billion cost-cutting plan the bank announced for this year. The latest developments were revealed during the bank's annual investor day conference Tuesday. Online and mobile banking have become increasingly popular and that trend is expected to continue. The shift online has begun to make brick-and-mortar branches less necessary and, frankly, expensive. Tellers handled only 42 percent of all bank deposits last year,...
  • Another JPMorgan Banker Dies After Murder-Suicide: Chokes Wife, Stabs Himself To Death

    02/09/2015 3:11:33 PM PST · by dynachrome · 60 replies
    Zero Hedge ^ | 2-9-15 | Tyler Durden
    By now, there have been so many banker-related suicides that it has become a moot point of i) tracking them all or ii) trying to find a pattern. And yet, one name continues to stand out: JPMorgan. The bank which has been most prominent among the list of "suicided" bankers notched one more casualty over the weekend when "a JPMorgan Chase & Co. employee strangled and stabbed his wife to death before turning the knife on himself, according to police who are treating the couple’s death in Bergen County, New Jersey as a murder-suicide."
  • The Rigging Triangle Exposed: The JPMorgan-British Petroleum-Bank Of England Cartel Full Frontal

    12/31/2014 9:21:04 AM PST · by Nachum · 10 replies
    zero hedge ^ | 12/31/14 | tyler durden
    The name Dick Usher is familiar to regular readers: he was the head of spot foreign exchange for JPMorgan, and the bank's alleged chief FX market manipulator, who was promptly fired after it was revealed that JPM was the bank coordinating the biggest FX rigging scheme in history, as initially revealed in "Another JPMorganite Busted For "Bandits' Club" Market Manipulation." Subsequent revelations - which would have been impossible without the tremendous reporting of Bloomberg's Liam Vaughan - showed that JPM was not alone: as recent legal actions confirmed, virtually every single bank was also a keen FX rigging participant. However,...
  • Azealia Banks goes on Twitter rant, calling for $100 trillion in reparations

    12/26/2014 7:28:46 PM PST · by GrandJediMasterYoda · 87 replies ^ | 12/26/14 | BY MOLLY FRIEDMAN
    Azealia Banks goes on Twitter rant, calling for $100 trillion in reparations The hip hop star says African Americans are owed 'major bucks' by JP Morgan, Chase and American families. She incites violence against descendants of the DeWolf family: 'They should all have their houses burned and their finances seized.' Azealia Banks says major corporations made bank off slave labor. And now she wants them to pay it back. The hip hop star published a series of accusatory tweets on Friday, arguing that major corporations owe African Americans “major bucks” - up to $100 trillion - after profiting from slavery...
  • Connecticut life insurance executive stabbed to death running near her home: cops (VIDEO)

    11/24/2014 11:08:41 AM PST · by george76 · 59 replies
    NEW YORK DAILY NEWS ^ | November 24, 2014 | JASON MOLINET
    A popular bike path became the scene of a gruesome murder late Thursday when a life insurance executive was killed while running near her Connecticut home. Melissa Millan, 54, a triathlete and mother of two, was found stabbed at about 8 p.m. in the Hartford suburb of Simsbury, Conn. Police have stepped up patrols of the bike path and scoured the area on Saturday, but no suspect has been named and the murder weapon has not been recovered, WFSB reported. Millan, a senior vice president who had been with MassMutual Financial Group since 2001, was transported to an area hospital,...
  • The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare (Fake Story)

    11/08/2014 9:50:08 AM PST · by Bigun · 14 replies
    Rolling Stone ^ | November 6, 2014 | Matt Taibbi
    Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking By Matt Taibbi | November 6, 2014 "It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'" Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing. Back in 2006, as a...
  • The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare [Satire]

    11/08/2014 6:09:57 AM PST · by outinyellowdogcountry · 56 replies
    Rolling Stone ^ | November 6, 2014 | Matt Taibbi
    She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn't take it anymore. "It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'" Fleischmann is a tall, thin, quick-witted securities lawyer in her late thirties, with long blond hair, pale-blue eyes and an infectious sense of humor that has survived some very tough times. She's had to struggle to find work despite some striking skills and qualifications, a common symptom of a not-so-common condition...
  • JPMorgan Chase Says More Than 76 Million Accounts Compromised in Cyberattack

    10/02/2014 2:35:28 PM PDT · by dynachrome · 17 replies
    A cyber attack this summer on JPMorgan Chase compromised more than 76 million household accounts and seven million small-business accounts, making it among the largest corporate hacks ever discovered. The latest revelations, which were disclosed in a regulatory filing on Thursday, vastly dwarf earlier estimates that hackers had gained access to roughly one million customer accounts. The new details about the extent of the hack — which began in June but was not discovered until July — sent JPMorgan scrambling for the second time in just three months to contain the fallout.
  • Eric Holder Takes $77 Million Job With JPMorgan Chase

    09/28/2014 1:09:28 PM PDT · by Nachum · 119 replies
    the daily currant ^ | 9/26/14 | staff
    Just after announcing his resignation as U.S. attorney general, Eric Holder has accepted a top job with Wall Street finance giant JPMorgan Chase. Starting in early November, Holder will serve as JPMorgan Chase’s chief compliance officer, where his responsibilities will include lobbying Congress on the company’s behalf and ensuring it “gets the best deal possible” from any new proposed financial regulations. Holder will also fetch morning coffee and breakfast orders for CEO Jamie Dimon and board members. For his efforts, Holder will earn an annual salary of $77 million plus bonuses for a job well done. In a statement, Holder...
  • Holder’s Justice Dept Uses Bank Settlements to Fund Democrat Nonprofits

    08/30/2014 12:29:28 PM PDT · by Kaslin · 49 replies ^ | August 30, 2014 | Michael Schaus
    Once again, our Chicago-style Attorney General has proven that corruption is the basic foundation upon which the modern Democrat Party is built. Eric Holder, the nationÂ’s top extortionist officer, has been running around the financial sector suing banks for anything (and everything) he can get away with. Ally Bank paid millions for alleged racist lending practices (an allegation the DOJ made without ever looking at loan portfolios), JP Morgan has shelled out billions for various anti-Obama comments regulatory infractions, and Bank of America just paid a $16.6 billion fine for their government-mandated role in the financial crises of 2008.Aside from...
  • JPMorgan, RBC Capital consider Jersey City offices (Crony Capitalism)

    08/09/2014 4:55:13 AM PDT · by mgist · 8 replies
    The Real Deal ^ | 5/15/2014 | Mark Maurer
    JPMorgan, RBC Capital consider Jersey City offices New Jersey board to vote on request for millions in subsidies May 15, 2014 JPMorgan Chase and Royal Bank of Canada Capital Markets are seeking incentives from the New Jersey Economic Development Authority in an effort to open offices in Jersey City. RBC Capital wants $7.9 million in tax incentives, while JPMorgan is asking for $22.5 million over a decade. Last week, the Bank of New York Mellon said it is considering moving the company’s Wall Street headquarters in the first quarter to either a 2.7 million-square-foot tower at 225 Liberty Street, or...
  • GE Credit: A 'mickey mouse' company?

    07/28/2014 1:17:47 AM PDT · by topher · 15 replies
    Use of GE Credit | 28-July-2014 | vanity
    I have a credit card issued by GE credit. I have some problems because of the Mickey Mouse nature of this credit card (by GE credit). One of the several reasons for calling GE Credit a 'Mickey Mouse' outfit is the password on my account. There are so many restrictions of what you can use and the length of the password, that it makes one account vulnerable... Since GE was founded by a Robber Baron maybe it is easier to 'rob from people's accounts directly. After all, why not honor the legacy of J.P. Morgan... I did complain to my...
  • After Asking Employees to Reveal Personal Beliefs, Chase Faces Boycott

    07/26/2014 11:24:02 AM PDT · by SoFloFreeper · 14 replies
    Daily Signal ^ | 7/18/14 | Kelsey Harkness
    Over 4,000 Americans have signed a petition to boycott Chase bank over a company survey that probed employees about their sexual orientation and personal beliefs. The National Organization for Marriage’s campaign, “Void Chase,” urges customers across the globe to take their banking business elsewhere until JPMorgan Chase apologizes and promises “never again to invade the privacy of your employees in this way.” The effort is the result of what critics call an invasive survey that asked whether Chase employees identify themselves as lesbian, gay, bisexual or transgender, or as an “LGBT ally.”
  • Banker Suicides Return: JPMorgan Executive "Blasts Wife, Kills Self" With Shotgun

    07/10/2014 5:25:18 PM PDT · by Nachum · 31 replies
    Zero Hedge ^ | 7/10/14 | Tyler Durden
    With Russia and China having briefly taken over the hub of global executive suicides, the sad trend has returned back to America. In what appears to the 15th financial services executive suicide this year, yet another JPMorgan Director took his own life. As IBTimes reports, Jefferson Township (New Jersey) police report that the Global Network Operations Center Executive Director, "Julian Knott, age 45, shot his wife Alita Knott, age 47, multiple times and then took his own life with the same weapon." They are survived by 3 teenage children... As IB Times reports, JP Morgan executive director Julian Knott blasted...
  • How Chase Bank and other Corporations Coerce and Bully Christians

    07/04/2014 12:40:12 PM PDT · by NYer · 27 replies
    Crisis Magazine ^ | July 4, 2014 | AUSTIN RUSE
    How would you feel if your boss came into your office one day and asked if you are supportive of the “LGBT community”?Maybe you are sympathetic to gays who face discrimination but you do not support the overall agenda. Maybe you are a faithful Catholic who accepts the teaching of the Church on homosexuality, that it is disordered and if acted upon, mortally sinful. Maybe you are simply bone weary of the LGBTs jamming their message into your face and the faces of your children all day long.And there is the man who holds your job in his hands...
  • Ted Cruz Leads GOP's Fight Against IMF Expansion in Ukraine Aid Package

    03/24/2014 1:43:33 PM PDT · by SoConPubbie · 5 replies
    Heritage "The Foundry" ^ | March 22, 2014 at 3:51 pm | Rob Bluey
    Senate Majority Leader Harry Reid (D–Nev.) is facing a revolt among Republicans for adding controversial language to an aid package for Ukraine.The Senate is expected to vote on the Ukraine measure next week. The controversial provisions, which have support of the Obama administration and liberals from both parties, would increase U.S. financial support to the International Monetary Fund.A growing number of Republicans warn that attaching the IMF language would reduce U.S. power while expanding Russia’s influence on the global stage in the wake of its annexation of Crimea.>>> Q&A: Why Do Conservatives Oppose the IMF Reform Package?Yesterday, Sen. Ted Cruz...
  • What’s behind epidemic of financial industry suicides?

    03/24/2014 6:31:13 AM PDT · by SeekAndFind · 17 replies
    New York Post ^ | 03/24/2014 | Michael Gray
    A rash of eight financial-industry suicides so far in 2014 has mental-health professionals trying to understand what’s behind it. In late winter many people suffer from depression, but for bankers this is usually offset by finding out how large their bonuses will be. However, compensation across the entire financial sector is down from years past as large firms deal with new rules pinching their bottom lines. The other, more pressing matter for mental health pros is: Why are such a large proportion of these self- murders public affairs? While there are no definitive theories on suicide location, many in the...
  • 28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides

    03/18/2014 8:18:11 AM PDT · by Nachum · 27 replies
    Zero Hedge ^ | 3/18/14 | Tyler Durden
    Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top chief investment officer with JPMorgan, works on risk exposure valuations. Several John Bellando emails were cited during testimony at the Senate Finance Committee’s inquiry into the bank’s losses during the infamous London Whale trade fiasco. Kenneth Bellando — who grew up in Rockville Center, LI, and was a Georgetown graduate — worked as a summer analyst at JPMorgan while in school. Upon graduation in 2007, he was hired as an investment...
  • Banker leaps to his death in finance world’s 8th suicide this year

    03/18/2014 5:43:16 AM PDT · by Tolerance Sucks Rocks · 68 replies
    The New York Post ^ | March 17, 2014 | Michael Gray
    A 28-year old Manhattan investment banker has died after an apparent suicide, police sources said. Kenneth Bellando, who worked at Levy Capital since January, was found dead on the sidewalk outside his East Side building on March 12, after allegedly jumping from the sixth-story roof, sources said. Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top Chief Investment Officer with JPMorgan, works on risk exposure valuations.
  • Another Sudden Death of JPMorgan Worker: 34-Year Old Jason Alan Salais

    03/05/2014 7:33:13 AM PST · by Renfield · 37 replies
    Wall Street On Parade ^ | 2-23-2014 | Pam Martens and Russ Martens
    On the evening of Sunday, December 15 of last year, six weeks before the onset of the latest rash of tragic deaths of young men in their 30s employed at JPMorgan, the Pearland, Texas police received a call of a person in distress outside a Walgreens pharmacy at 6122 Broadway in Pearland. The individual in distress was Jason Alan Salais, a 34-year old Information Technology specialist who had worked at JPMorgan Chase since May 2008. A family member confirmed to Wall Street On Parade that Salais died of a heart attack on the same evening the report of distress went...
  • JP Morgan To Lay Off 17,000 Mortgage Bankers In 2013 And 2014, Because The "Housing Recovery"

    02/25/2014 8:53:01 AM PST · by SeekAndFind · 20 replies
    Zero Hedge ^ | 02/25/2014 | Tyler Durden
    The last time JPMorgan had an investor day, Jamie Dimon explained to Mike Mayo why he is richer than him (and pretty much anyone else). This year, Jamie will be more focused on explaining to 8,000 JPM workers why after firing 16,500 people in consumer and mortgage banking, the bank will now let go another 2K and 6K in those same two groups (which will bring total mortgage and consumer banking headcount reductions between 2013 and 2014 to at least 17K and 7.5K, respectively). This may be tricky especially in the context of, you know, the housing and economic...
  • Does The Trail Of Dead Bankers Lead Somewhere?

    02/24/2014 5:27:39 PM PST · by ilovesarah2012 · 47 replies ^ | February 18, 2014 | Michael Snyder
    What are we to make of this sudden rash of banker suicides? Does this trail of dead bankers lead somewhere? Or could it be just a coincidence that so many bankers have died in such close proximity? I will be perfectly honest and admit that I do not know what is going on. But there are some common themes that seem to link at least some of these deaths together. First of all, most of these men were in good health and in their prime working years. Secondly, most of these "suicides" seem to have come out of nowhere and...
  • Madoff said JPMorgan executives knew of his fraud: lawsuit

    02/20/2014 5:30:20 PM PST · by Red in Blue PA · 20 replies
    NEW YORK (Reuters) - Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had "direct knowledge" of his Ponzi scheme. The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews. "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them," the...
  • 33-year-old banker leaps to his death from JPMorgan’s Hong Kong headquarters, latest in string....

    02/18/2014 9:15:33 AM PST · by BRK · 83 replies
    JPMorgan banker jumps from Hong Kong headquarters A 33-year-old man jumped to his death from the skyscraper roof of U.S. investment bank JPMorgan Chase & Co’s Asia headquarters on Tuesday, police said. JP Morgan has confirmed that the man who jumped was an employee at the firm with the last name Li. He was a junior investment banker.
  • Second JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader

    02/18/2014 7:09:28 AM PST · by Nachum · 28 replies
    zero hedge ^ | 2/18/14 | Tyler Hedge
    The banker suicide wave that started in late January has now become an epidemic, and it seems to be focusing on one bank: JP Morgan. After the first suicide that took place in JPM's London headquarters, ending the life of 39 year old Gabriel Magee, a vice president in the investment bank’s technology department, next it was 37 year old Ryan Crane, an executive director in the firm's program trading division, who died under still unknown circumstances. Moments ago a third JPMorgan banker committed suicide, this time at the JPMorgan Charter House Asia headquarters in central Hong Kong, where a...
  • Former JP Morgan manager: The business world could learn a lot from Pope Francis

    02/16/2014 7:49:41 AM PST · by mgist · 6 replies
    Gazette ^ | 2/16/14 | Gannon
    Jorge Bergoglio, the archbishop of Buenos Aires widely considered to be the runner-up in 2005 when Pope Benedict XVI was elected to lead the Catholic Church, didn't hang around the Vatican and plot a political strategy that would eventually lead to him becoming Benedict's successor. Instead, the future Pope Francis quietly returned to his ministry on the streets of Argentina and then emerged as somewhat of a surprise pick last March after Benedict's retirement. To Chris Lowney, that's a stroke of leadership worthy of a case study. "He went totally off the radar. ... That to me was totally compelling,"...
  • Jamie Dimon, CEO of JP Morgan, is the companies biggest majority shareholder?

    02/14/2014 1:30:36 PM PST · by mgist · 21 replies
    Yahoo finance ^ | 2/14/14 | self
    I need help with this, James Dimon, CEO of JP Morgan, is the company's biggest shareholder? As reported by yahoo, he has 1.9 million shares of JP Morgan stock. If the stock is worth $58 a share, doesn't that give him around $11 BILLION worth of stock? wtf?
  • JP Morgan's suspect hiring of Venezuelans (Money laundering)

    02/14/2014 10:14:17 AM PST · by mgist · 10 replies
    Infodio ^ | 8/20/10 | Alex Boyd
    JP Morgan's suspect hiring of Venezuelans [UPDATED] Submitted by Alek Boyd on Tue, 20/08/2013 - 19:19 Forget about Tiny Rowland and his African adventures as imperialist entrepreneur and dealmaker. The unacceptable face of capitalism has morphed into its XXI century iteration: bankers. This meme of bankers as the world’s worst has been appropriated and “occupied” by the Left. And the argument has been set up as one between “capitalism” and the power of the state. It may seem odd for someone like me to bash capitalism and entrepreneurship, but seeing what some “capitalist” bankers and banks are doing these days,...
  • Digusted with JP Morgan (what was going on a little over a year ago)

    02/14/2014 9:52:37 AM PST · by mgist · 3 replies
    MSN Investing ^ | 7/16/12 | Jim Jubak
    The stock ran up despite its huge trading loss -- a flashing neon sign that world's global banks are too big to manage and too addicted to risk Shares of JPMorgan Chase (JPM -0.33%, news) rose almost 6% on Friday on news that the bank's loss from its London Whale trade was just $5.8 billion and that revenues of $22.89 billion were above the Wall Street estimate of $21.7 billion. Frankly, I find the jump in JPMorgan Chase stock deeply disturbing. It's yet one more sign, if you need one, of exactly how cynical Wall Street has become and of...
  • DId JP Morgan really take a $10 Billion financial hit for Uncle Sam?

    02/14/2014 8:38:40 AM PST · by mgist · 13 replies
    Nation of Change ^ | 2/14/14 | Eskow
    Even in these tempestuous times, some things are still predictable. Bank CEOs still plead poverty after receiving billion-dollar favors from the government. And there are apparently still reporters who take their word for it. Recently a lawsuit was filed against JPMorgan Chase which details massive investor fraud at Bear Stearns, the firm it acquired at the government’s request - and at considerable public expense - during the 2008 crisis. And right on time, JPM CEO Jamie Dimon ran to reporters to claim that his bank really lost money on that extraordinarily cushy deal. Such is the credulousness of our journalistic...
  • Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

    02/14/2014 5:32:47 AM PST · by mgist · 7 replies
    Zero Hedge ^ | 2/12/14 | durden
    Ordinarily we would ignore the news of another banker's death - after all these sad events happen all the time - if it wasn't for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan - a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based...
  • JP Morgan Vice President's Death in London Shines Light on Banks close Ties with CIA

    02/12/2014 4:17:39 PM PST · by mgist · 4 replies
    Wall Street on Parade ^ | 2/12/14 | martens
    The nonstop crime news swirling around JPMorgan Chase for a solid 18 months has started to feel a little spooky – they do lots of crime but never any time; and with each closed case, a trail of unanswered questions remains in the public’s mind. Just last month, JPMorgan Chase acknowledged that it facilitated the largest Ponzi scheme in history, looking the other way as Bernie Madoff brazenly turned his business bank account at JPMorgan Chase into an unprecedented money laundering operation that would have set off bells, whistles and sirens at any other bank. The U.S. Justice Department allowed...
  • Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

    02/12/2014 9:39:11 AM PST · by Nachum · 82 replies
    zero hedge ^ | 2/12/14 | Tyler Durden
    Ordinarily we would ignore the news of another banker's death - after all these sad events happen all the time - if it wasn't for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan - a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based...
  • Chinese Official Made Job Plea to JPMorgan Chase Chief

    02/10/2014 4:15:11 AM PST · by Red in Blue PA · 3 replies
    The executive suites of JPMorgan Chase in Midtown Manhattan may seem a world away from the politically connected Chinese job applicants who landed on the bank’s payroll. But a confidential email has emerged that shows a top Chinese regulator directly asked Jamie Dimon, the bank’s chief executive, for a “favor” to hire a young job applicant. The applicant, a family friend of the regulator, now works at JPMorgan. Mr. Dimon met the applicant in June 2012, according to interviews and the previously unreported email, one of several documents that JPMorgan recently turned over to federal authorities as part of an...
  • JP Morgan Holds Highest Amount Of Physical Silver In History

    02/05/2014 7:48:13 AM PST · by blam · 16 replies
    Market Oracle ^ | 2-5-2013 | GoldSilverWorlds
    JP Morgan Holds Highest Amount Of Physical Silver In History Commodities / Gold and Silver 2014 Feb 05, 2014 - 06:48 AM GMTBy: GoldSilverWorlds Commodities While everyone is focused on the massive outflows in COMEX registered gold inventories and the gold ETF, GLD, it seems that an important evolution in silver is passing unnoticed. In what follows, Ted Butler, precious metals analyst specialized in COT analysis, reveals a remarkable insight in the physical silver market. Butler’s calculations show that JPMorgan (JPM) has piled up the largest holding of physical silver in modern world. Since the silver price peak in May...
  • Third Banker, Former Fed Member, "Found Dead" Inside A Week

    01/31/2014 10:43:06 AM PST · by RightGeek · 96 replies
    Zero Hedge ^ | 1/31/2014 | "Tyler Durden"
    <p>If the stock market were already crashing then it would be simple to blame the dismally sad rash of dead bankers in the last week on that - certainly that was reflected in 1929. However, for the third time in the last week, a senior financial executive has died in what appears to be a suicide. As Bloomberg reports, following the deaths of a JPMorgan senior manager (Tuesday) and a Deutsche Bank executive (Sunday), Russell Investments' Chief Economist (and former Fed economist) Mike Dueker was found dead at the side of a highway in Washington State. Police said the death appeared to be a suicide.</p>
  • Two top American bankers commit suicide in London as one jumps 500ft to his death...and another....

    01/28/2014 6:15:58 PM PST · by 1 spark · 94 replies
    Two top American bankers commit suicide in London as one jumps 500ft to his death from JP Morgan skyscraper and another hangs himself in luxury home •Gabriel Magee, a 39-year-old JP Morgan bank executive, died this morning after he threw himself off the top of the bank's European headquarters •On Sunday, former Deutsche Bank senior manager, William 'Bill' Broeksmit, 58, was found hanging in his home in South Kensington •Both deaths have been ruled non-suspicious by the Metropolitan Police •Magee had lived in London for seven years after transferring from the Unites States with JP Morgan •Broeksmit had been in...
  • Weekly COMEX Gold Inventories: Huge Gold Withdrawal From JPMorgan Warehouse Headed East

    01/26/2014 4:22:12 PM PST · by Red in Blue PA · 46 replies
    Last week, as many of gold investors may already know, we saw the largest one-day withdrawal in over a year as the JPMorgan (JPM) warehouse withdrew a stunning 321,500 ounces of gold (10 tonnes). Additionally, we also saw a large withdrawal from the Scotia Mocatta warehouse, which brings the total withdrawal for the week to almost 5% of all COMEX gold stocks. .... As investors can see, last week's action finally saw a rise in registered gold by a small 5,002 ounces. But that was paired with a huge 350,968 ounce withdrawal from eligible gold stocks - the vast majority...
  • JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever

    01/24/2014 1:09:19 PM PST · by Nachum · 29 replies
    zero hedge ^ | 1/24/14 | Tyler Durden
    Curious why over the past few months JPM has quietly been accumulating a substantial amount of eligible physical gold (even as its registered gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn - keep that date in mind for a few minutes)? This may have something to do with it: moments ago the daily Comex gold vault report confirmed what many expected, namely that the JPM accumulation was merely in advance anticipation of major withdrawals. How major? Well, on January 23, JPM saw 321,500...
  • JPMorgan boosts CEO Dimon’s Pay to $20 Million

    01/24/2014 12:06:56 PM PST · by lbryce · 6 replies
    AP via Washington Post ^ | January 24, 2014 | Staff
    JPMorgan Chase almost doubled Chairman and CEO Jamie Dimon’s pay for 2013, rewarding the executive for settling probes against the bank. Dimon will receive total compensation of $20 million in 2013, consisting of $18.5 million in stock options and a base salary of $1.5 million, the bank said in a statement Friday.
  • Report: JPMorgan set to give Dimon pay hike despite legal woes

    01/24/2014 9:06:03 AM PST · by Olog-hai · 1 replies
    CNN Money ^ | January 24, 2014: 8:31 AM ET | Chris Isidore
    JPMorgan Chase boss Jamie Dimon is set to get a raise, even though the bank was forced to pay billions in fines and settlements last year. The New York Times reported that the board of JPMorgan Chase has approved the increase for 2013, although it did not give any details on the amount of the increase. […] Dimon, CEO and chairman, had his 2012 pay slashed by about half to $11.5 million after JPMorgan suffered estimated trading loss of nearly $6 billion during the year attributed to a London trader known as the London Whale. …
  • JPMorgan CEO Dimon says government cases were 'unfair'

    01/23/2014 5:15:21 AM PST · by Red in Blue PA · 6 replies
    (Reuters) - JPMorgan Chase & Co (JPM) Chief Executive Officer Jamie Dimon said on Thursday that government legal cases, including those over mortgage securities the company settled for more than $13 billion, were "unfair". Dimon, speaking on CNBC in a pre-recorded interview from Davos, Switzerland, said most of the government claims against the company were for dealings that took place at companies before JPMorgan bought them in the financial crisis. "I think a lot of it was unfair, but I am not going to go into the details," Dimon said in the television interview.
  • J.P. Morgan to pay $2 billion over Madoff case

    01/07/2014 11:28:05 PM PST · by chessplayer · 17 replies
    U.S. prosecutors and regulators are expected to announce this week that J.P. Morgan Chase & Co. will pay slightly more than $2 billion in penalties for alleged failures to warn about Bernard L. Madoff's massive fraud, said people familiar with the negotiations.
  • On Defensive, JPMorgan Hired China’s Elite

    12/30/2013 2:46:50 AM PST · by Cincinatus' Wife · 5 replies
    New York Times ^ | December 29, 2013 | BEN PROTESS and JESSICA SILVER-GREENBERG
    In a series of late-night emails, JPMorgan Chase executives in Hong Kong lamented the loss of a lucrative assignment. “We lost a deal to DB today because they got chairman’s daughter work for them this summer,” one JPMorgan investment banking executive remarked to colleagues, using the initials for Deutsche Bank. The loss of that business in 2009, coming after rival banks landed a string of other deals, stung the JPMorgan executives. For Wall Street banks enduring slowdowns in the wake of the financial crisis, China was the last great gold rush. As its economy boomed, China’s state-owned enterprises were using...
  • The JPMorgan Shakedown Includes Acorn-Style Kickback

    12/04/2013 10:16:55 AM PST · by SeekAndFind · 4 replies
    IBD ^ | 12/04/2013
    Extortion: Just when we thought its post-crisis probe of banks couldn't get more corrupt, the Obama administration has cut radical Democrat groups in on the record $13 billion JPMorgan Chase subprime loan deal. On Page 5 of "Annex 2" of the recently released consent order, you'll find this little gem: The Justice Department mandates that JPMorgan fork over any unclaimed or unpaid consumer damages to a nonprofit group that finances Acorn clones and other shakedown groups. They stand to reap millions. The "consumer relief" portion of the deal by itself totals $4 billion. If the government "determines that a shortfall...
  • JPMorgan Will Pay Record Breaking $13 Billion Justice Dept Fine (Holder strikes?)

    11/22/2013 5:13:27 AM PST · by Liz · 32 replies ^ | 0ct 19, 2013 | Connor Simpson
    JP Morgan Chase has agreed to pay a record breaking fine to the Justice Department to settle federal and state lawsuits over the bank's mortgage-backed securities business at the height of the financial collapse, according to multiple reports. This is everything we know so far. The Wall Street Journal reports J.P. Morgan Chase lawyers reached a tentative agreement late Friday night for a record breaking $13 billion settlement with the Justice Department that would relieve the bank from many state and federal lawsuits and investigations, after weeks of heated negotiations between lawyers representing both sides. This is the largest settlement...