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The criminal investigation into JPMorgan's (JPM) CIO trading loss turns potentially explosive...

The criminal investigation into JPMorgan's (JPM) CIO trading loss turns potentially explosive after the bank informed authorities three London traders may have tried to hide losses (which led to the restating of Q1 earnings). The investigation now shifts from looking at the personal trades of those involved to one of fraud.
Comments (7)
  • deercreekvols
    , contributor
    Comments (6493) | Send Message
    You couldn't see this coming.


    CEO Jamie Dimon told everyone that "all is well." He even got invited to the Senate to tell them how JPM "learned" from its mistake and he go to lecture them about how banking rules should stay the way they are.


    I can not believe that JPM's troubles continue to mount like their losses with the "Whale Fraud" gamble.


    Who will be the first to tell me how smart Jamie Dimon is today?
    17 Jul 2012, 08:30 AM Reply Like
  • JC150
    , contributor
    Comments (11) | Send Message
    Please stop rehashing old news...


    News is already baked into the stock price.
    17 Jul 2012, 08:37 AM Reply Like
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
    JPM...Priced to make believe..just like the entire banking sector
    17 Jul 2012, 08:55 AM Reply Like
  • gh1616
    , contributor
    Comments (462) | Send Message


    Absolutely agree!! I am sick of the countless SA email articles & news updates all with slightly different takes on the same issues. Loads up my inbox & I delete most of them without reading. Fact is that individual investors, portfolio managers & advisers are by this time out of the stock or in based on valuation as you note. Also fact is Jamie Dimon along with John Stumpf of WFC are outstanding leaders. One bad trade against the billions of revenue & earnings should not destroy Dimon.


    But that's the world we live in today. Make one mistake, or perceived mistake & you are taken out to be shot or sent to the gulag! All at the hands of the Legislative-Gangsters who have destroyed our economy but are the first to be on TV wagging their finger & threatening business people especially bankers.
    17 Jul 2012, 10:22 AM Reply Like
  • deercreekvols
    , contributor
    Comments (6493) | Send Message
    Fraud is not old news, rather just being reported.


    The troubles at JPM are mounting. Dismissing these problems will not make them go away.


    How smart is Mr. Dimon today?
    17 Jul 2012, 02:13 PM Reply Like
  • gh1616
    , contributor
    Comments (462) | Send Message
    The "potential" criminal investigation is just another letter in the same stack of mail!!
    19 Jul 2012, 09:58 PM Reply Like
  • lbona1
    , contributor
    Comment (1) | Send Message
    I worked @ JPM and at month end traders didn't mark their positions. The brokers would supply prices. There are pricing systems out there to catch the bad marks put out by traders trying to save their jobs.
    17 Jul 2012, 09:07 AM Reply Like
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