https://www.cnbc.com/2018/11/06/ex-jp-m ... eeIbwsab0o
This might explain why, on a regular basis, around 10am PST the price would jump and then fall quickly again.
JP Morgan trader pleads guilty to manipulating US metals
3 posts
• Page 1 of 1
JP Morgan trader pleads guilty to manipulating US metals
by highroller4321 » Wed Nov 07, 2018 2:13 pm
- highroller4321
- Realcent Moderator
- Posts: 7214
- Joined: Sat Oct 25, 2008 10:00 am
- Location: Portland,Oregon
Re: JP Morgan trader pleads guilty to manipulating US metals
by Recyclersteve » Wed Nov 07, 2018 5:18 pm
They had a lady at J.P. Morgan named Blythe Masters back in the day, who was in charge of the traders. She was widely credited for developing the credit default swap (CDS), an instrument considered so dangerous by many that it was a good part of the reason for the near collapse of insurance giant AIG in September, 2008.
As a result of instruments like CDS's, AIG went to the federal govt. on 9/15/08 and demanded a $100 BILLION bailout or they would have to go bankrupt. (This was the same day that Lehman Bros. declared bankruptcy.) AIG ended up getting something like $152 billion when all was said and done.
I'd love to see these metals manipulators have the book thrown at them and I am very disappointed that Ms. Masters never went to jail (along with a bunch of others that contributed).
As a result of instruments like CDS's, AIG went to the federal govt. on 9/15/08 and demanded a $100 BILLION bailout or they would have to go bankrupt. (This was the same day that Lehman Bros. declared bankruptcy.) AIG ended up getting something like $152 billion when all was said and done.
I'd love to see these metals manipulators have the book thrown at them and I am very disappointed that Ms. Masters never went to jail (along with a bunch of others that contributed).
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
- Too Busy Posting to Hoard Anything Else
- Posts: 4632
- Joined: Sun Jan 20, 2013 5:59 am
- Location: Where I Want To Be
Re: JP Morgan trader pleads guilty to manipulating US metals
by Cu Penny Hoarder » Sun Dec 02, 2018 8:43 am
And the bankers NEVER go to jail, they just pay fines. They consider the fines a cost of doing business.
Just like Biff Tannen... they OWN the police!
Just like Biff Tannen... they OWN the police!
- Attachments
-
- I OWN the police.jpg (266.92 KiB) Viewed 624 times
Time is precious, stop wasting it.
- Cu Penny Hoarder
- Post Hoarder
- Posts: 2417
- Joined: Tue Sep 06, 2011 8:44 pm
3 posts
• Page 1 of 1
Return to Silver Bullion, Gold, & other Bullion Metals
Who is online
Users browsing this forum: No registered users and 2 guests