Apr 11

From the article:

“In retrospect we can understand why the inventor of the Credit Default Swap would only dare go out in public with a couple of armed gorillas covering her back.”

Flashback:

- JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade


blythe masters_0

- Blythe Masters Under Investigation By Federal Prosecutors (ZeroHedge, April 10, 2014):

There is much new info in the just released Bloomberg profile on the infamous ex-JPMorganite Blythe Masters, among which the disclosure that she had made it clear that she had wanted to go along with the disposable JPM physical commodities unit (which as was reported recently, was sold to Swiss commodities giant Mercuria) and “and continue as the group’s chief”, a plan which did not work out as she had planned since she has no plans to “join the unit’s purchaser” (although joining Glencore is another matter entirely, and one which looks increasingly plausible) but what we find most striking is the following revelation: “Masters is under investigation by federal prosecutors in Manhattan, according to two people with knowledge of the matter. That probe was opened following a settlement with regulators that alleged JPMorgan manipulated power markets in the Midwest and California.”

This is somewhat ironic because it was none other than Zero Hedge which asked nearly a year ago if “JPMorgan’s “Enron” Will Be The End Of Blythe Masters?” Suddenly, the answer appears to be yes.

More from Bloomberg:

Continue reading »

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Apr 08

- Ex-ABN Amro CEO Killed Family Before Hanging Himself (ZeroHedge, April 7, 2014):

Sadly, as suspected – and in line with his CFO in 2009 – the reported death of Jan Peter Schmittmann was indeed suicide. The ex-CEO of ABN Amro hanged himself, but only after murdering his wife, Nally, and 22 year-ol daughter Babette. As Bloomberg reports, a farewell letter was found in the house, but authorities declined further comment on its contents. Schmittmann’s family was cited as saying in the statement that “we knew Jan Peter struggled with severe depression,” and added that their “first concern now is supporting the remaining daughter in coping with this indescribable grief.” Aweful…

As Bloomberg reports,

De Telegraaf reported today that Schmittmann hanged himself, citing two people it didn’t identify.

Bloomberg explains Schmittmann’s history:

Schmittmann joined ABN Amro Holding NV, once among Europe’s biggest banks, in 1983 as an assistant relationship manager and was named head of the lender’s Dutch unit in 2003. As a member of the bank’s executive board, he was responsible for restructuring it along the lines agreed by Royal Bank of Scotland Group Plc, Fortis and Banco Santander SA in their three-way takeover of the lender in 2007.

A year after the biggest financial-services takeover in history, the credit crunch drove Fortis to the verge of collapse, forcing the Netherlands to take over its Dutch banking and insurance units, including assets of the former ABN Amro in 2008. The Dutch asked Gerrit Zalm to lead the company now called ABN Amro Group NV.

Continue reading »

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Apr 03

Vladimir-Putin1

- Putin 1 – Dimon 0: JPMorgan Unhalts Russian Money Transfer (ZeroHedge, April 3, 2014):

Yesterday when we reported that a “Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan“, in which we explained that unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious, we said that “we certainly can not be the only ones looking forward to the epic battle prospect that is Vlad “Shootin” Putin vs JP “Fail Whale” Morgan.” Alas the title fight lasted for just about a day, and was won, with a technical knock out in the first round, by none other than the former KGB spy who can now add the whale which manipulates all markets to its trophy case which includes about 100 statues of a crushed and beaten John Kerry.

Because after shocking the world with its unilateral decision to halt Russian money transfers without a direct order from the administration, Reuters reports that JPM has folded and will process said payment from Russia’s embassy in Kazakhstan to insurance agency Sogaz, easing tension after Moscow accused the U.S. bank of illegally blocking the transaction under the pretext of sanctions.

In other words, Putin 1 – Jamie Dimon 0.

More from Reuters:

Continue reading »

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Apr 02

- Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan (ZeroHedge, April 2, 2014):

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that “Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer “Under Pretext” Of Sanctions.” This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with “Russian threat to retaliate over JPMorgan block.” And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as “illegal and absurd.”  And as Ukraine found out last month, you don’t want Russia angry.

More:

The biggest U.S. bank thwarted a remittance from the Russian embassy in Astana, Kazakhstan, to Sogaz Insurance Group “under the pretext of anti-Russian sanctions imposed by the United States,” the ministry said yesterday in a statement on its website. Sogaz lists OAO Bank Rossiya, a St. Petersburg-based lender facing U.S. sanctions over the Ukrainian crisis, as a strategic partner on its website.

Interfering with the transaction was an “absolutely unacceptable, illegal and absurd decision,” Alexander Lukashevich, a ministry spokesman, said in the statement.

Continue reading »

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Apr 02

- Russian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans (ZeroHedge, April 2, 2014):

It didn’t take long for Russia to launch the first retaliatory salvo against the unexpected JPMorgan “act of aggression.” Moments ago Bloomberg just reported that Sberbank,  the largest bank in Russia and all of Eastern Europe, just halted the issuance of consumer loans in foreign currency. Bloomberg adds that “Sberbank, Russia’s biggest lender, holds 43.3% of nation’s consumer deposits, 32.7% of consumer loans and 32.1% of corporate loans.”

Why is this important? Well, it is possible that the biggest Russian bank is running low on foreign reserves with which to issue non-ruble loans, which is rather unlikely for a bank which is defacto part of the Russian financial system. Still, it would be problematic if Russia is indeed telegraphing its commodity-export driven economy is suddenly low on Dollars and/or Europe’s artificial, life-supported currency.

Continue reading »

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Apr 02

jpmorgan

- J.P. Morgan imposes its own sanctions on Russia by blocking money transfer (The Daily Sheeple, April 2, 2014):

If we recall back in September of last year, the first individuals to speak to President Obama at the White House during the government shutdown were not leaders in Congress, but 15 bankCEO’s.  This highly disturbing event appears to be a pre-cursor to the power that financial institutions have over the U.S. government, and brings to mind former activities by the banking industry in helping both V.I. Lenin and Adolph Hitler achieve power over countries outside of the authority of America’s elected leaders.

Which is why an interesting course of action taken by J.P. Morgan Chase towards Russia and the Russia’s government on April 1 may once again prove to Americans just how much power the banks have over the State Department, and even the White House. Continue reading »

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Mar 30

- Office Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption (ZeroHedge, March 29, 2014):

It just hasn’t been JPMorgan’s year. Or several years for that matter. The bank which has been on a steady downward slope when it comes to paying billions in quarterly “non-recurring, one-time” legal settlements and charges, and for which engaging in criminal behavior which is neither admitted nor denied, yet which has cost JPM nearly $30 billion in the past several years, has just had its latest “wristslapping” incident, one which involves none other than the recently departed CEO of JPM Asia, Fang Fang, whose office was raided on March 26 by Hong Kong’s anti-corruption agency amid a U.S. investigation into the bank’s hiring practices as reported by Bloomberg.

fang fang

From Bloomberg:

The Independent Commission Against Corruption seized computer records and documents after searching the office of Fang Fang, the company’s outgoing chief executive officer for China investment banking, said the people, who asked not to be identified because the investigation is confidential.

Continue reading »

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Mar 28

JPMorgans-European-Headquarters-at-25-Bank-Street-in-the-Canary-Wharf-Section-of-London

- Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers (Wall Stret On Parade, March 24, 2014)

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

According to the December 31, 2013 financial filing known as the Call Report that JPMorgan made with Federal regulators, it has tied up $10.4 billion in illiquid, long term bets on the death of a large segment of its employees.

Continue reading »

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Mar 27

- Veteran cyclist killed by minivan knew the dangers all too well (The Columbus Dispatch, March 24, 2014):

About a decade ago, Jeff Stephens was bicycling shoulder-to-shoulder with Joseph A. Giampapa when the two witnessed another cyclist get fatally struck by a car right in front of them.

“It was sort of a bond that we had, and I would say it’s a burden that we carried,” Stephens said yesterday. “We were in very close contact for months after that situation.”

On Saturday, Stephens, of Worthington, got a phone call from the scene of another accident — this time, it was Giampapa who had been struck by a minivan and killed while bicycling north of Troy.

Giampapa, 56, of the Northwest Side, was an accomplished long-distance cyclist and corporate attorney for JPMorgan Chase in Columbus. He was a longtime resident of Victorian Village who had moved with his wife, Thelma, into a condominium near Dublin about two years ago.

Continue reading »

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Mar 18

- 28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides (ZeroHedge, March 18, 2014):

Not a week seems to pass without some banker or trader committing suicide. Today we get news of the latest such tragic event with news that 28-year old Kenneth Bellando, a former JPMorgan banker, current employee of Levy Capital, and brother of a top chief investment officer of JPM, jumped to his death from his 6th floor East Side apartment on March 12.

031714realestate4MATT

From the NY Post:

Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top chief investment officer with JPMorgan, works on risk exposure valuations.

Continue reading »

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Mar 11

- The Holy Grail Of Trading Has Been Found: HFT Firm Reveals 1 Losing Trading Day In 1238 Days Of Trading (ZeroHedge, March 11, 2014):

Think JPM’s zero trading day losses in 2013 was impressive? Prepare to have your mind blown. The chart below shows the chart of daily net trading income by High Frequency Trading titan Virtu, taken from its just filed IPO prospectus. The punchline: in 4 years of trading Virtu has had one, one, day in which it lost money.

From the S-1: “The chart below illustrates our daily Adjusted Net Trading Income from January 1, 2009 through December 31, 2013. As a result of our real-time risk management strategy and technology, we had only one losing trading day during the period depicted, a total of 1,238 trading days. “

VRTU Trading Days

Let that sink in: one trading loss day and 1237 days of profits. And that, ladies and gentlemen, is the Holy Grail of the New Normal broken, manipulated markets.

Continue reading »

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Feb 28


YouTube Added: Feb 25, 2014

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Feb 21


YouTube Added: Feb 21, 2014

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Feb 21

- Madoff said JPMorgan executives knew of his fraud: lawsuit (Reuters, Feb 20, 2104):

NEW YORK (Reuters) – Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had “direct knowledge” of his Ponzi scheme.

The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews.

Continue reading »

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Feb 20

- The Number Of Days In Which JPM Lost Money In All Of 2013 Is… (ZeroHedge, Feb 20, 2014):

….

0

….

Well, what did you expect.

However, there’s more.

First, the reason why the familiar histogram showing the trading days profits (we would say losses but TBTFs don’t lose money in the New Normal) such as the one seen here is no longer present, is because JPM has decided to no longer show it as of this quarter. Continue reading »

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Feb 20

- JPMorgan Imposes New Capital Controls on Cash Deposits! (Silver Doctors, Feb 18, 2014):

In October, we warned SD readers that JPMorgan had initiated capital controls, limiting cash withdrawals, and banning outgoing international bank wires.

The Morgue is at it again, reportedly at the request of the gov’t, as the bank has just informed customers of new capital controls on cash deposits, banning counter credit deposits, forcing customers to provide a photo ID before depositing their own cash into an account, and only allowing customers to deposit cash into accounts in which their name is listed.

The writing is clearly on the wall for any who have eyes to see.
Your opportunity to exit the current system with your wealth intact is slowly closing as the banksters attempt to seal off the exits without panicking the masses.
Got Phyzz??

JPMnotice

 

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Feb 19

Does The Trail Of Dead Bankers Lead Somewhere

- Does The Trail Of Dead Bankers Lead Somewhere? (Economic Collapse, Feb 18, 2014):

What are we to make of this sudden rash of banker suicides?  Does this trail of dead bankers lead somewhere?  Or could it be just a coincidence that so many bankers have died in such close proximity?  I will be perfectly honest and admit that I do not know what is going on.  But there are some common themes that seem to link at least some of these deaths together.  First of all, most of these men were in good health and in their prime working years.  Secondly, most of these “suicides” seem to have come out of nowhere and were a total surprise to their families.  Thirdly, three of the dead bankers worked for JP Morgan.  Fourthly, several of these individuals were either involved in foreign exchange trading or the trading of derivatives in some way.  So when “a foreign exchange trader” jumped to his death from the top of JP Morgan’s Hong Kong headquarters this morning, that definitely raised my eyebrows.  These dead bankers are starting to pile up, and something definitely stinks about this whole thing.

What would cause a young man that is making really good money to jump off of a 30 story building?  The following is how the South China Morning Post described the dramatic suicide of 33-year-old Li Jie: Continue reading »

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Feb 18

jpmorgan_man on ledge
The man stands on the roof of Chater House in Central as police try to talk him down. Photo: SCMP Pictures

- Second JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader (ZeroHedge, Feb 18, 2014):

The banker suicide wave that started in late January has now become an epidemic, and it seems to be focusing on one bank: JP Morgan.

After the first suicide that took place in JPM’s London headquarters, ending the life of 39 year old Gabriel Magee, a vice president in the investment bank’s technology department, next it was 37 year old Ryan Crane, an executive director in the firm’s program trading division, who died under still unknown circumstances.

Moments ago a third JPMorgan banker committed suicide, this time at the JPMorgan Charter House Asia headquarters in central Hong Kong, where a 33 year old man who was said to have been an FX trader for JPM, just jumped to his death.

Continue reading »

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Feb 13

- Wall Street on Parade Explores JP Morgan’s Disturbing Links to the CIA, NYPD and More… (Liberty Blitzkrieg, Feb 13, 2014):

Pam Martens of Wall Street on Parade does some excellent work, and I have featured her articles several times on this site. Most recently, I highlighted her article: New York is Drowning in Bribes and Corruption, which was a particularly popular post. In the article I have chosen today, she dives into a topic frequently discussed on the Wall Street on Parade site. Namely, the incestuous and entirely inappropriate relationship between JP Morgan and law enforcement, including the CIA itself. No wonder no one ever gets in trouble or goes to jail…

Here are some excerpts from her latest: Continue reading »

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Feb 13

Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever

- The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam Yet (Rolling Stone, Feb 12, 2014):

Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever

all it the loophole that destroyed the world. It’s 1999, the tail end of the Clinton years. While the rest of America obsesses over Monica Lewinsky, Columbine and Mark McGwire’s biceps, Congress is feverishly crafting what could yet prove to be one of the most transformative laws in the history of our economy – a law that would make possible a broader concentration of financial and industrial power than we’ve seen in more than a century.

But the crazy thing is, nobody at the time quite knew it. Most observers on the Hill thought the Financial Services Modernization Act of 1999 – also known as the Gramm-Leach-Bliley Act – was just the latest and boldest in a long line of deregulatory handouts to Wall Street that had begun in the Reagan years.

Continue reading »

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Feb 12

Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading (ZeroHedge, Feb 12, 2014):

Ordinarily we would ignore the news of another banker’s death – after all these sad events happen all the time – if it wasn’t for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan – a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM’s Global Program Trading desk, founded in 1999 by an ex-DE Shaw‘er, a function of the firm which is instrumental to preserving JPM’s impeccable and (so far in 2013) flawless trading record of zero trading losses. Continue reading »

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Feb 10

Jamie Dimon cufflinks - The seal reads Seal of the President of the United States and includes the arrow-carrying eagle

- JPMorgan Sued For Crony Justice – Presenting “A Decade of Illegal Conduct by JP Morgan Chase” (ZeroHedge, Feb 10, 2014):

Earlier today, the non-profit organization Better Markets did what so many others have only dreamed of doing – they sued JPMorgan.

Specifically, as they disclose in the fact sheet posted on their website, they are “challenging the historic and unprecedented $13 billion settlement agreement between the U.S. Department of Justice and JP Morgan Chase (“Agreement”).  Better Markets alleges in its complaint that the DOJ violated the Constitution and laws of the United States by using a mere contractual agreement to resolve claims of historic importance without subjecting the Agreement to independent judicial review.  In effect, the DOJ acted as investigator, prosecutor, judge, jury, sentencer, and collector, without any check on its authority or actions, even though the amount is the largest in the 237 year history of the United States. Because the DOJ has declared its intention to use the Agreement as a “template” in future similar cases, it is imperative that the DOJ’s unlawful and secretive approach in the settlement process be subjected to judicial review.

We wish them the best of luck, as in a “crony justice” system as corrupt as this one – perhaps best described, paradoxically enough by the fictional movie The International – where the same DOJ previously implicitly admitted it will not prosecute “systemically important” firms like JPM to the full extent of the law and instead merely lob one after another wrist slap at them to placate the peasantry, any hope for obtaining true justice is impossible. Continue reading »

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Feb 07

blythe masters_0

- Blythe Masters Withdraws From CFTC : Furious Twitter Backlash Blamed (ZeroHedge, Feb 7, 2014):

Following our post yesterday which included the occasional F-bomb and got well over 40K reads since its posting late last night, the reaction was sharp and severe. So severe in fact that less than 24 hours later, Blythe Master has withdrawn from the CFTC. The culprit for Masters’ resignation in just 24 hours? A very angry Twitter.

From Bloomberg

Blythe Masters, JPMorgan Chase & Co.’s commodities head, withdrew from an advisory committee of the U.S. Commodity Futures Trading Commission a day after her appointment was disclosed,  according to two people with direct knowledge of the decision.

Continue reading »

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Feb 07

You can’t make this stuff up!

Flashback:

- JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade


blythe masters_0

- The Farce Is Complete: Blythe Masters Joining CFTC (ZeroHedge, Feb 6, 2014):

We thought today’s newsflow and “market action” ranked pretty high on the absurd surrealism scale. And then we saw this.

  • BLYTHE MASTERS TO JOIN CFTC GLOBAL MARKETS COMMITTEE
  • JPMORGAN’S BLYTHE MASTERS TO JOIN CFTC ADVISORY COMMITTEE
  • CFTC SPOKESMAN COMMENTS ON BLYTHE MASTERS JOINING COMMITTEE

That’s right – you read it correct: “Blythe Masters, head of JPMorgan Chase & Co.’s commodities division, is joining an advisory committee of the U.S. Commodity Futures Trading Commission, said Steve Adamske, a spokesman for the regulator. Masters, 44, was invited by acting Chairman Mark Wetjen to sit on a global markets committee at the Washington-based regulator of futures and swaps, according to a person with knowledge of the matter. Masters is scheduled to participate in a CFTC meeting on Feb. 12 to discuss cross-border guidance on rules, the person said.”

Continue reading »

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Feb 04

- A Rash of Deaths and a Missing Reporter – With Ties to Wall Street Investigations (Wall Street On Parade, Feb 3, 2014):

In a span of four days last week, two current executives and one recently retired top ranking executive of major financial firms were found dead. Both media and police have been quick to label the deaths as likely suicides. Missing from the reports is the salient fact that all three of the financial firms the executives worked for are under investigation for potentially serious financial fraud.

The deaths began on Sunday, January 26. London police reported that William Broeksmit, a top executive at Deutsche Bank who had retired in 2013, had been found hanged in his home in the South Kensington section of London. The day after Broeksmit was pronounced dead, Eric Ben-Artzi, a former risk analyst turned whistleblower at Deutsche Bank, was scheduled to speak at Auburn University in Alabama on his allegations that Deutsche had hid $12 billion in losses during the financial crisis with the knowledge of senior executives. Two other whistleblowers have brought similar charges against Deutsche Bank.

Continue reading »

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Feb 02

- Market Cornered: JPMorgan Owns Over 60% Notional Of All Gold Derivatives (ZeroHedge, Feb 1, 2014):

Perhaps the only question we have after seeing the attached table, which shows that as of Q3, 2013 JPMorgan owned $65.4 billion, or just over 60% of the total notional ($108.2 billion) of all gold derivatives in the US, is whether the CFTC will pull the “our budget was too small” excuse to justify why it allowed Jamie Dimon to ignore any and all position limits and corner the gold market?

JPM Gold Derivatives

And purely as a reference point, the chart below compares the total value of gold held in JPM’s vault (registered and eligible) as of Friday’s closing price with its reported gold derivative notional holdings.

JPM Gold Physical vs Derivatives

Finally, for the purists out there, we realize that gross is not net… until there is a breach in the derivative counterparty collateral chain, and gross becomes net.

Source: OCC, Comex

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Jan 31

- JPMorgan Loses 44% of Gold Inventories in 4 Days! (SilverDoctors, Jan 29, 2014):

In another stunning withdrawal, JP Morgan had  an additional 321,500 oz  gold ounces removed from its vaults today.
Since last Thursday, JP Morgan has lost 44% (20 metric tons = 643,000 oz) of its gold inventories.

If a picture is worth a thousand words, then the table below is worth over $400 million (at current market prices):

From the SRSRocco Report:

Comex-Gold-Inventories-012814

Here is the Comex inventory table for last Thursday:

Continue reading »

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Jan 30

- Two top American bankers commit suicide in London as one jumps 500ft to his death from JP Morgan skyscraper and another hangs himself in luxury home (Daily Mail, Jan 28, 2014):

  • Gabriel Magee, a 39-year-old JP Morgan bank executive, died this morning after he threw himself off the top of the bank’s European headquarters
  • On Sunday, former Deutsche Bank senior manager, William ‘Bill’ Broeksmit, 58, was found hanging in his home in South Kensington
  • Both deaths have been ruled non-suspicious by the Metropolitan Police
  • Magee had lived in London for seven years after transferring from the Unites States with JP Morgan
  • Broeksmit had been in London many years but still owned an apartment in an exclusive Central Park building in New York
  • Both were thought highly of by their bosses and colleagues, sources said

Two top ranking American bankers working in senior positions in London have committed suicide in the space of two days.

Gabriel Magee, a 39-year-old JP Morgan bank executive, died early this morning after he jumped 500ft from the top of the bank’s European headquarters. His body was discovered on the ninth floor roof, which surrounds the 33-story Canary Wharf skyscraper.

Just two days earlier, on Sunday, fellow American banker, William ‘Bill’ Broeksmit, 58, was found hanging in his South Kensington home.

Broeksmit – who retired last February – was a former senior manager at Deutsche Bank and had lived in London many years. He started working for the bank in 1996 but left for a period of 7 years before returning in 2008.

Continue reading »

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Jan 28

JPM Chase London_0

- Man Jumps To His Death From JPMorgan London Headquarters  (ZeroHedge, Jan 28, 2014):

Early this morning, at JPM’s 33 story high London Headquarters located at 25 Bank Street in Canary Wharf, a 39 year-old man jumped to his death after falling onto a 9th floor roof. The police, who were called to the scene at 8:02 this morning, said they are not treating the death as suspicious and no arrests have been made, suggesting the death was indeed a suicide.  London Ambulance Service and London Air Ambulance attended but they could not save the man.

Bloomberg quotes Jennifer Zuccarelli, a spokeswoman for JPMorgan in London who said that “We are reviewing a very sad incident at 25 Bank Street this morning.”  The building and the surrounding area is “currently secure,” she said. Continue reading »

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Jan 28

Jamie Dimon cufflinks - The seal reads Seal of the President of the United States and includes the arrow-carrying eagle
In more than one picture, Dimon was seen with the seal cufflinks visible. The seal reads “Seal of the President of the United States” and includes the arrow-carrying eagle.

- Dimon Gets 74 Percent Raise After Billions in Fines (Bloomberg, Jan 24, 2014):

After agreeing to pay $23 billion in penalties and settlements in 2013, JPMorgan Chase (JPM) Chief Executive Jamie Dimon was rewarded today by the board he chairs, receiving a 74 percent pay raise to $20 million.

Dimon has presided over a series of costly settlements with government investigators, including paying $13 billion for mortgage activity that helped lead to the financial crisis and $2 billion for failing to do anything about signs that client Bernie Madoff was running a Ponzi scheme. But in the amoral logic of the stock market, each payout has been met with gains in the company’s stock price, as investors see one fewer uncertainty looming over future profits.

Continue reading »

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