JP Morgan Chase registered as a bank in New Zealand on the 1th of October 2007 although on their official website they sell them selves as having a 140 year old history with Australia and New Zealand. It was in that same year the alleged LIBOR manipulation started according to the latest revelations.
JP Morgan Chase is now being inundated with Subpoenas from all over the globe demanding information about their role in what is easily the biggest financial scam in human history. One country eerily silent is New Zealand. Could this be because our Prime Minister knew full well about the LIBOR rigging and has never the less allowed New Zealand to load up on $ 112 Billion in Derivatives and other financial crapola? And why is nobody from the mainstream media asking the PM about this?
Pretty much everybody in the world with subpoena power has hit JPMorgan Chase with requests for information in the Libor-rigging scandal.
The biggest U.S. bank revealed the extent of its involvement in the probe in a filing Thursday morning with the Securities and Exchange Commission, saying regulators in the U.S., U.K., Canada, Switzerland and more had asked it for information:
JPMorgan Chase has received subpoenas and requests for documents and, in some cases, interviews, from the DOJ, CFTC, SEC, European Commission, UK Financial Services Authority, Canadian Competition Bureau, Swiss Competition Commission and other regulatory authorities and banking associations around the world.
That’s a whole lot of subpoenas. For the uninitiated, “DOJ, CFTC, SEC” refer to the Justice Department, Commodity Futures Trading Commission and Securities and Exchange Commission. “Libor” stands for “London Interbank Offered Rate,” a short-term interest rate that affects borrowing costs for homeowners, companies and borrowers throughout the world, along with about $350 trillion in credit derivatives. Despite its importance, the rate has apparently been manipulated constantly for years, in what may be the biggest financial scandal of all time.