JPMorganAfter today’s market close, and ahead of tomorrow morning’s 9:30am Senate hearing on JPM’s London While IG9 trades that cost the firm upwards of $10 billion, the Senate Permanent Committee on Investigations has released a 300 page document titled JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses in which the Senate Committee accuses JPMorgan and Jamie Dimon in particular of lying to and intentionally deceiving regulators, investors, and the public regarding the extent of the derivatives losses the firm sustained as Bruno Iksil nearly took down the ship in early 2012.

Full senate report is below:

 

REPORT – JPMorgan Chase Whale Trades (3!15!13)2

 

 

  1. If only the Senators would actually ask JPM to explain under oath why they have a massive silver short position and perform market manipulation on a daily basis….
     
    Na … I’ll just keep stacking, its not going to happen till long after everything crashes to the ground that we’ll learn why and how such illegal activities came to be condoned.

  2. Who me ? Look here, my chum the pres’ (flash cufflinks again) says you need to look forward with this sort of thing. Im no liar! I just have to say those words and i’m not! Move on, nothng going on here.

  3. Rob a bank with a gun, Go directly to jail, do not pass go, do not collect $200. Rob a bank with a computer, Do not go to jail, Collect a big fat bonus, move your piece to park place drink, apple martinis and laugh at screwing the little guy, while the govt provides the lube. I just want to know when we will see some jail time for the scum bags!

    • “I just want to know when we will see some jail time for the scum bags!”
       
      Probably about the same time that they offer one of us the snow cone concession in Hell.

    • Bart IS doing his job.  It’s just not the job that he is SUPPOSED to be doing.  All of these CFTC people came from the big banks and to them they will return someday.  Praise and bennies will be lavished upon them for the excellence of their “government service”, all the while they were really just serving the financial needs of these same banks.  Different day, same p00p.

  4. And nothing will be done other than a slap on the wrist and telling them “don’t do this again”, if that happens time to remove a bunch of congress and replace them with someone who is honest. I think randomly picking people who have at least some college education and are past 45 years old would result in better laws.

  5. Well of course they would do that because they are part of the Wall Street criminals! By deceiving the regulators, the investors and the public, it makes them lose their confidence over banking system which only accelerates the big financial collapse.

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