JPMorgan Chase Libor Subpoenas Coming From Everybody In The World

 

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.

Read more

5 thoughts on “JPMorgan Chase Libor Subpoenas Coming From Everybody In The World

  1. And we all have to stop calling these crimes “scandals” and “scams” ,they are CRIMES against the people that pay to use the services of these institutions. Therefore the perpetrators of these crimes are criminals and the people that help them are accomplices !

    • Mick,

      With all due respect I think it’s time you start your own blog where you can say and write what you need to say.

      http://wordpress.com/ (Free)

      I agree they are crimes but I have my reasons to write what I write.

      That does not mean I don’t appreciate your comments because I do. I just really think you should give it a shot. You read enough, know enough and I say go for it.

  2. Sorry to say but most of those names above are just going through the process. They’ve had plenty of opportunity to show their teeth over the years and have consistently failed to do anything.

    The real hit to JP Morgan is probably from other banks, brokers and big investment funds that will litigate against them. And when it all looks like its turning to shit for JP Morgan (as it will be) those same groups will short JP Morgan stock and close in for the kill like the parasites they all are.

  3. Shame on NZ media for not following something of this magnitude – $ 112 Billion in Derivatives. I would imagine the spoiled brats (employees of TVNZ) would loose a gym membership or free inner city parking if they dared dig into this mess.

    Keep going Ev. Someone somewhere will have the smarts to address this. There will come a time soon when there will be no where for Johnny boy and his mates to run.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s