J. P. Morgan Receives Wells Notice from the SEC
NEW YORK, May 12 (Reuters) - JPMorgan Chase & Co (JPM) said on Monday that it received a notice from federal regulators indicating that one of its units may face an enforcement action related to "the bidding of various financial instruments associated with municipal securities."
Last month, Bear Stearns Cos (BSC), which JPMorgan is buying, also got a notice from the U.S. Securities and Exchange Commission indicating possible civil charges, stemming from anti-competitive activity relating to bidding for municipal securities.
It was unclear whether there was any relationship between the two investigations. (Reporting by Christian Plumb; editing by Carol Bishopric)
"Where such a shift in power is in favor of the governing elite, Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, to justify the beginning of murder en masse. Most state sponsored murder occurs under the cover of war, revolution, or guerrilla war, or in their aftermath."
R. J. Rummel