JPMorgan Chase & Co. agreed to pay $920 million and admit misconduct tied to manipulation of precious-metals and Treasury markets, regulators said Tuesday.
The settlement resolves investigations by the Justice Department, Commodity Futures Trading Commission and the Securities and Exchange Commission, according to a CFTC statement issued Tuesday. The fine is the largest ever imposed for spoofing, a type of market manipulation, by the CFTC, the agency said.
jpmorgan JPMorgan. You descpicable-cheating enterprise. Bun in Hell!!!!!!!
$20m from that money should be ours.
Question the rich.
But, as usual, no jail time. White Collar crime pays well. Especially to the MBAs that run these criminal enterprises.
This will continue until you stop fining corporations and start prosecuting the fraudsters.
And they have the nerve to charge me fees?!
thats 15 minutes of time on the click to them...and that is the problem. Greater profits over any consequences.
RajGiri_303 you catch this.
What about the CokeBoat
920 million for criminal behavior... They spend a lot more in toilet paper, no kidding.
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Remember this?
I thought JPM was supposed to be the most reputable out of all the banks. This is very Wells Fargo like.
Ans they raked in 10s of billions over decade.
Paid to whom? Hope those most affected see this money but its unlikely.
This should be a much larger story.
Apparently manipulating is frowned upon in this establishment!!
This is why Bitcoin $BTC is precious
I love that we pretend that these fines do anything to a company like JPMorgan... No part of this actually discourages them from doing similar or worse things in the future..
Capitaliam at it's best. Shame on DOJ to let this criminal off hook 😒
Legalised theft on a massive scale. Our politicians our probably their clients.
But they made like 22billion of the activities🤔🤔
drop in bucket, to jpm
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And yet TBTF. Please
Dimon should resign.
When I went to work at Smith Barney, back in 1992, there was one very simple rule Sandy and Jamie had for all the employees...You can build whatever business you like here, JUST DON’T BREAK THE LAW!! Seems Mr. Dimon’s ethos has vanished.
All that change between the sofas is gone now! How inconvenient.
Another wrist slap for a huge bank. Claw back all the profits then add fine.
Shut this bloody company down what is a fine going to do? How many times this has happened at this company?
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Must go to jail
But this is how capitalism has worked, since time began. No? Winners (the rich) manipulate markets. Losers (the poor) clean up the messes and pay the heaviest prices through fees and hidden charges.
They made 5x more then the fine , so yes spoofing is profitable for them. SMH
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Obviously they made a helluva lot more than $920 million.
Funny thing is, it won't come out of their pocketbooks. Just their clients
Key word here is: AGREED TO PAY SEC, DOJ is garbage
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So what ? They have made more than $10 Billions by manipulating the various rules/regulations. Read Panama Papers, watch inside job.... everything has been explained very well
They can afford more