Over the last week and a half, high level JP Morgan executives have dumped over $6 million in shares in what experts have described as ‘unusual activity’.
Anyone believe JPM’s October 12th earnings report which beat expectations?  Looks like accounting BS engineered to dump legacy positions on the general public.

A chorus of high-level executives inside JPMorgan (JPM) are selling down their stakes in the company, in what some experts are citing as “unusual” activity within the nation’s largest bank by deposits.

CNBC reports that JPM execs have dumped $6 million in the past 10 days!:

In sum, executives on JP Morgan’s operating committee have reaped proceeds greater than $6 million since October 15th — a move that appears uncharacteristic for the bank, according to Ben Silverman, director of research at InsiderScore.com, which tracks insider buying and selling activity.

“This is an unusual cluster of sales in that we typically don’t see this many insiders at the company [JPMorgan] selling at the same time,” Silverman said. “We look at events like this as a negative event for the stock.

Every exec but Blythe and Jamie are dumping the stock:

On Oct. 19, Mary Erdoes, CEO of JP Morgan Asset Management, sold 40,000 shares at $42.46 each, for roughly $1.7 million in proceeds.

On Oct. 17, John Donnelly, director of human resources, sold 40% of his JPM stock in his first insider transaction: Cashing in $1.1 million in shares at $43.29 apiece.

Two days earlier, executives across investment, consumer and mortgage banking made big sales. On Oct. 15 – the first business day post-earnings – Michael Cavanagh, the newly installed co-CEO of the investment bank, sold 40,000 at $42.00, cashing in roughly $1.7 million. Gordon Smith, Chase co-CEO of Consumer & Community Banking, cashed in 28,300 shares in a sale totaling $1.2 million. Frank Bisignano, the bank’s co-COO and head of JPM’s Mortgage Banking unit, sold $844,900 worth of stock at $42.25.

Perhaps Bill Murphy was merely a little early on his timing and JP Morgan is in fact facing major imminent losses?

  1. It wouldn’t surprise me to learn that ALL bank insider ‘stock’ is being off-loaded into government agency retirement accounts. This recently discussed ‘Chicago Plan’ to issue government-direct Plantation Scrip, ties in perfectly for such a flim-flam. In the post-collapse environment, the interest ‘earned’ on much higher rates would ‘redeem’ that ‘stock’ in no time. As has been said, leave them (the gang, that is … government, banking and monopoly industrialists) the power of creating ‘money’ from their printing presses and ‘with the flick of a pen’ they’ll buy back all they’d lost. 

  2. Max Keiser speculated that hedge funds on Wall St. would be going after the Morgue with naked short selling in the aftermath of the London Whale fiasco. This may be that or worse. Since the Morgue is TBTF the Fed may come to the rescue and stick us with the bill again!

    • Any just why would the Fed not do that?  After all, JPM and the other big NY banks OWN the Fed, so when it does their bidding it is no more than any servant would do.

      What we are witnessing these days is nothing less than the systematic looting and pillaging of the US Treasury.  This IS the greatest heist of all time and it is happening right before our very eyes.  What these banks really need is a taste of the Spanish bank runs to settle them down a bit.  That and some torches and pitchforks, of course.


  3. This is probably one of, if not the most powerful bank in the world. They lost 6 billion and still their stock went up. I wouldn’t tap dance on their graves over a story about some bosses selling shares.  They own the press.  No truth gets out.

  4. Maybe JP Morgan is on the verge of bankruptcy so the executives are now dumping JP Morgan’s stocks. If that bank is gone, then silver’s price is going to go very high at once since it is manipulated by them. Also, maybe that’s why Citibank became the new silver manipulator.

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