It is now the second anniversary of a campaign to “crash” JP Morgan by encouraging people to buy silver (see Max Keiser). The idea is that JP Morgan has a large naked short position in silver. If people buy physical silver it will drive the price up and deprive JP Morgan of the metal it [...]
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The blogger’s gift that keeps on giving appears to be Jamie Dimon’s whale of a problem. Bloomberg.com is taking direct aim at a key assertion the firm’s top execs made just two days ago, in a hard-hitting report today titled JPMorgan Blaming Marks on Traders Baffles Ex-Employees, which begins: JPMorgan Chase & Co. (JPM)’s assertion that traders [...] The Telegraph (U.K.) had a terse description of JPM’s Chief Investment Office that helped crystallize my thinking: The bank stunned Wall Street when it disclosed that a series of bets made by the CIO on the health of major companies had triggered the . The CIO’s job is to invest deposits that the bank has yet [...] “Dimon, who has been chief executive officer of JPMorgan since 2006, has a reputation as a savvy political player, and the bank’s lobbying expenditures have increased under his leadership.” The American Banker has a long article today (see below) about JPMorgan’s ties to politicians serving on the [...] “Working at my desk today was somewhat surreal. Global risk markets were closing out a dreadful week. Newswires were full of disconcerting articles – J.P. Morgan, Greece, Spain, Italy, China, etc. Meanwhile, CNBC was in the midst of blanket coverage of the Facebook initial public offering. Mark Zuckerberg rang the bell to open NASDAQ [...] Whenever I struggle with an issue, such as banking regulation and the JPM situation, I find that the eminent Dr. Frank Shostak has already solved the problem. I’ve been thinking a lot about the current banking system and how it perpetuates Too Big To Fail banks. There is a free market solution to the banking system, actually, a [...] As regular Daily Capitalist readers know, I have been observing a topping process for the U.S. stock market for a few months now. Last fall, near the market bottom in late September, I suggested that despite their outperformance in the prior months, tax-free municipal bonds looked pretty attractive. That piece was titled Gold on Hold; [...] |
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