J.P. Morgan sitting 70 trillion derivatives and take it to zero

[zonly1]

[ame=http://www.youtube.com/watch?v=ZOZYkyQx4uw]MELTDOWN UPDATE: The JP Morgan Derivatives Book is Blowing Up - Bix Weir - YouTube[/ame]

JP Morgan can rig computers(HFTers) until prices reach zero and shut down the market.
Fakebook was the next step. During the audio link from utube, jp has 70 trillion in the derivatives market...more than total global gdp....the game is rig and face book and with oil price going down is working on your fears.

They are using socialism or keysian economics but at infinity....creates bubbles and prays on psyops investors fears....for example....don't go shopping when you're hungry.

most of you are to inconveniences to be bothered with your self entertainment system ipod, iphone etc...divide and distract in the home...conquered.........
...........americans suckers/losers....banks winners.

HFTers are 2% of student body in trading but make 70%+ in vol trade...can you say control and small investors suckers

Fake book fate???? is the hammer that triggers the falll/collaspe for our economy?


these are notes and opinions based on observations from this vid and several others

you draw a horse to water but you can't make them drink

 

[zonly1]

for you uninform short sided mf'ers JP bought out bear stearns who had short positions on silver...an manupulated silver to less than 10.

 

[Mad Scientist]

I've read reports that state the World Wide Derivatives Market is anywhere from 600 Trillion to 1,500 Trillion!

And instead of going bankrupt as they should, these Banks want to be bailed out. That means the Tax Payer will be saddled with all that debt which is mathematically impossible to pay off, in ANYONE'S lifetime!

 

[waltky]

JPMorgan Says Trading Loss Grew To $4.4 Billion...

JPMorgan traders may have sought to conceal losses
Jul 13,`12 -- JPMorgan Chase said Friday that its traders may have tried to conceal the losses from a soured bet that has embarrassed the bank and cost it almost $6 billion - far more than its CEO first suggested.

The bank said an internal investigation had uncovered evidence that led executives to "question the integrity" of the values, or marks, that traders assigned to their trades. JPMorgan also said that it planned to revoke two years' worth of pay from some of the senior managers involved in the bad bet, and that it had closed the division of the bank responsible for the mistake. "This has shaken our company to the core," CEO Jamie Dimon said. The bank said the loss, which Dimon estimated at $2 billion when he disclosed it in May, had grown to $5.8 billion, and could grow larger than $7 billion if financial markets deteriorate severely. Dimon said the worst appeared to be behind the bank, and investors seemed to agree: They sent JPMorgan stock up 6 percent, making it the best performer in the Dow Jones industrial average.

Daniel Alpert, a founding managing partner with the New York investment bank Westwood Capital Partners LLC, said the bank and Dimon appeared to have learned from the crisis. He said Dimon now realizes how complex and difficult to manage the bank is, will be more diligent in the future and probably won't be the crusader he has been against some proposed financial regulation. "Did it cost shareholders a few bucks? Yup," he said. "But it was a non-horrible way of learning the lesson, in the sense that the entire institution didn't burn down, the lesson's been taught and Dimon seems ready to take it." For his part, Dimon concluded: "We are not proud of this moment, but we are proud of our company." The investigation, which covered more than a million emails and tens of thousands of voice messages, suggested traders were trying to make losses look smaller, the bank said.

The revelation could expose JPMorgan to civil fraud charges. If regulators decide that employee deceptions caused JPMorgan to report inaccurate financial details, they could pursue charges against the employees, the bank or both. The Justice Department, the Securities and Exchange Commission and other regulators, including one in Britain, are looking into the loss. The Justice Department and SEC declined comment. JPMorgan could not necessarily hide behind the actions of its employees. Regulators could decide that its oversight or risk management contributed to the problematic statements. As a result of what it found, JPMorgan lowered its reported net income for the first quarter of this year by $459 million. The bank was still widely profitable: Even after the adjustment, it made $4.9 billion for the quarter.

MORE

 

[waltky]

Mortgage fraud to be handled in civil courts...

JPMorgan sued for fraud over mortgage-backed securities
1 October 2012 - The New York Attorney General wants JPMorgan to relinquish any profits made by fraudulent activity

The New York Attorney General has sued JPMorgan Chase for allegedly defrauding investors who lost more than $20bn (£12bn) on mortgage-backed securities sold by Bear Stearns. JPMorgan bought the investment bank Bear Stearns in March 2008. It said it would contest the allegations. This is the first action to come out of a working group created by US President Barack Obama looking into the causes of the 2008 financial crash.

The civil suit, filed by New York Attorney General (NYAG) Eric Schneiderman, accuses Bear Stearns of failing to ensure the quality of loans underlying residential mortgage-backed securities. It claims the bank, "systematically failed to fully evaluate the loans, largely ignored the defects that their limited review did uncover, and kept investors in the dark about both the inadequacy of their review procedures and the defects in the underlying loans".

It says this led to the inclusion of mortgages on which borrowers were likely to default and that losses in 2006 and 2007 totalled more than a quarter of the original value. The NYAG want the company to pay an undisclosed amount of damages "caused, directly or indirectly, by the fraudulent and deceptive acts".

However, in a statement, JPMorgan said the allegations concern actions by Bear Stearns before it bought the investment bank: "The NYAG civil action relates to Bear Stearns, which we acquired over the course of a weekend at the behest of the US Government. This complaint is entirely about historic conduct by that entity".

BBC News - JPMorgan sued for fraud over mortgage-backed securities