NY Post: Feds Launch Criminal and Civil Probes Into JP Morgan’s Silver Trades

Fiat justitia ruat caelum.

Let justice be done, though the heaven's fall.

Gray's Economy
Feds Probe JP Morgan’s Silver Trades
By Michael Gray
Deputy Sunday Business Editor, NY Post

Federal regulators have launched both a criminal and civil investigation against JP Morgan Chase for its trading activity in precious metals market.

The Commodities Futures Trade Commission is looking into civil charges and the Department of Justice’s Antitrust Division are handling the criminal probe, according to sources who did not wish to be identified due to the sensitive nature of the information.

See More information in tomorrow's New York Post Sunday Business section

Requests Weekend

This one goes out to Cuddlin' Bob from Barry O'Bomber



And here is an interesting bit of WWI trivia for Mother's Day tomorrow.
Give your mother a call if you can, or if you are like so many of us who
can no longer do that, remember the best of her in your thoughts and prayers...



Mother Machree sung by the Irish tenor, John McCormack

But as always, the show must go on...



Vesti La Giubba by Leoncavallo

Survey Says: The Western Financial Institution that Jim Rogers Is Shorting = JP Morgan

Earlier today Clusterstock carried a story that said that Jim Rogers Is Now Shorting A Major Western Financial Firm That Everyone Thinks Is Sound

So, Le Café Américain polled its customers all day, to find out what financial firm that you thought Jimmy Rogers was shorting.

The results are below. The actual results as they appeared in our window are on the left, with a rank ordering of the results on the right.



I have to admit a little surprise to see J. P. Morgan listed as the clear favorite.

If JPM were to fail, I think the NY Fed would have to formalize their relationship and take them over, if it can afford it. (lol). If JPM rolls over, I might be less interested in owning puts and inverse ETFs, and more interested in food, guns, gold, and a bible.

Seriously, I thought Morgan Stanley is the best pick of the better known names. If the PIIGS go under more than half their Tier 1 capital will be obliterated and they will have to be acquired by some larger bank, either Goldman or JP Morgan. What would their new name be, JP Morgan^2?

But it might be a lesser known candidate not even listed here, such as Banco Santander. Or even quixotically, the US Treasury. Who can say, except for the man himself.

Mais, les clients ont parlé.

Jimmy, feel free to email me with the actual name if you wish.