Jamie DimonFederal US District Court Judge Robert P. Patterson Jr. has dismissed the class-action litigation suit brought against JP Morgan (and originally HSBC) regarding silver market-rigging.  Judge Patterson cited lack of specifics and claims of bad intent necessary to bring the suit to trial.

Perhaps Judge Patterson never bothered to actually read the litigation, because if he did, (assuming he was not paid off) he would have come to the same conclusions we did when the suit was filed in September of 2011:
The lawsuit completely exposes JPMorgan’s silver manipulation from insiders’ perspectives for ALL TO SEE.
We’re talking your wife streaking on the field during the opening kick-off of the Super Bowl type of exposure.

Que the CFTC announcement that their 4 year silver probe found no evidence of market manipulation in silver.

Full details of Judge Patterson’s dismissal of the suit, as well as the full original suit below:

A group of black-tie anti-bankster activists recently crashed the Investment Banking Awards by making it on-stage and presenting Barclays executives with an award for LIBOR manipulation innovation.  Perhaps next year the activists can recognize Blythe and Jamie for innovative manipulation of the silver market.

The Investment Banking Awards are the Oscars of the financial world. Dished out for so-called ‘innovation’, some of the world’s richest bankers gather together to congratulate each other on devising ever more creative ways to make obscene sums of money.

One of 2012′s most profitable scams was the bankers’ ‘innovative’ approach to a key interest rate called LIBOR. Virtually every bank at the event was involved in illegally colluding to rig LIBOR, ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.

When we noticed that this money-spinner had been overlooked in the ceremony, we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.

Full clip of the activists presenting the award (and then immediately being ushered off-stage) below:

Bloomberg writes today that authorities are scrutinizing other benchmarks and markets for signs of manipulation in the wake of the LIBOR scandal.
Don’t worry, Goldman’s own Gary Gensler is on the hunt…just as soon as he gets around to completing the going-on-5-year silver investigation supposedly being conducted by the CFTC, which was supposed to have been concluded by September.

 

The same lack of oversight that enabled traders to manipulate the London interbank offered rate plagues other benchmarks around the globe, according to a group of international securities regulators.