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Forum Post: Banksters J .P Morgan caught stealing customer money !!!!

Posted 8 years ago on Nov. 19, 2011, 4:36 a.m. EST by Scout (729)
This content is user submitted and not an official statement

" JPMorgan has been slapped with the largest fine ever issued by the Financial Services Authority and the watchdog also warns that it has 'several more' banks in its sights.

The Wall Street firm, where Tony Blair works as an adviser, has been told to pay £33.32million for failing to keep client funds separate from its own in its futures and options business."

http://www.dailymail.co.uk/money/article-1283817/JPMorgan-hit-record-33m-fine.html

48 Comments

48 Comments


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[-] 5 points by badconduct (550) 8 years ago

So JPMorgan steals your money, than the Government steals it back. And we don't see a penny lol

[-] 2 points by entrepreneur (69) 8 years ago

@badconduct This is excellent reply.

[-] 1 points by tomcat68 (298) 8 years ago

don't worry. The Liberal Dems know what to do with your money better than you do.

[-] 2 points by jpbarbieux (137) from Palmetto Bay, FL 8 years ago

the christian republicans will just fund more wars (whoops they forgot to do that in Iraq)

[-] 3 points by MonetizingDiscontent (1257) 8 years ago

And the dems will vote to fund more republican wars. Not to mention republican wars being expanded under a democratic whitehouse.

..More LeftRight 'MyTeamYourTeam' mentality, and nonsensical off-topic bickering. wake up people.

[-] 1 points by jpbarbieux (137) from Palmetto Bay, FL 8 years ago

the age of Clinton 'republicrats'. None of our 'public servants' are.

[-] 1 points by SparkyJP (1646) from Westminster, MD 8 years ago

You are right! BOTH sides are being paid off by the same people. That's why we get the same results, no matter who's in power. Besides, keeping us divided, keeps us weak and they know it and they perpetuate that division.

The concentrating [of powers] in the same hands is precisely the definition of despotic government. It will be no alleviation that these powers will be exercised by a plurality of hands, and not by a single one. Thomas Jefferson

[-] 1 points by badconduct (550) 8 years ago

Like pave roads, pay for healthcare and write cheques for the unemployed?

[-] 1 points by tomcat68 (298) 8 years ago

The problem with liberals addicted to spending money is that they've spent this nation into the poor house with their spending addiction.

[-] 3 points by unimportant (716) 8 years ago

Them damn Republicans. Reagan, Bush Jr..... I don't want to confuse with the facts but since you are to stupid to find them yourself:

http://www.whew.com/articles/000011.php

Federal Spending in Billions of Dollars for both parties

1978-2007 Democratic $15,379.00

1978-2007 Republican $33,039.00

[-] 1 points by MonetizingDiscontent (1257) 8 years ago

looks like BOTH have a real problem there. They both love deficit spending & obviously there is no real difference between them, is there. -MoreDebt- no matter how you look at it.

[-] 3 points by unimportant (716) 8 years ago

Not much difference between these parties or the other parties at all. We need to remove money from the political process and take our country back. This is why I drafted a Constitutional Amendment to do just that.

http://www.nycga.net/groups/political-and-electoral-reform/docs/amendment-28-to-the-constitution-of-the-united-states-of-america

“ARTICLE—

“SECTION 1. We the people do ordain and reestablish the rights protected by the Constitution of the United States to be the rights of natural persons.

“SECTION 2. The words people, person, or citizen as used in this Constitution do not include corporations, limited liability companies and other private entities established by the laws of any State, the United States, or any foreign state.

“SECTION 3. Such entities not identified as a “natural persons“ in SECTION 2. of this Amendment, shall be prohibited from making contributions or expenditures to, for or against, any candidate for public office or to, for or against, publicly elected official or to, for or against, any legislation before the Congress, the Senate or the people.

“SECTION 4. Nothing contained herein shall be construed to limit the people’s rights of freedom of speech, freedom of the press, free exercise of religion, freedom of association and all such other rights of the people, which rights are inalienable.”.

[-] 2 points by MonetizingDiscontent (1257) 8 years ago

I Like your ideas =) Lets just hope that if they hold a constitutional referendum they dont 'slip' anything sneaky in there! Love your ideas though!

[-] 1 points by unimportant (716) 8 years ago

At times you have to make it happen. This is one of those times. I have forwarded this to my legislators and two Congressmen. One liked the quotes of Founding Fathers [on the whole document] and I still haven't heard from any of them.

It needs to go viral. This is why I never signed it with my name. It is from the people.

[-] 0 points by tomcat68 (298) 8 years ago

lol, a Drop in the bucket compared to what your Obama has spent. in FACT, every president since Washington combined has spent less than Obama.

Since you are too ( too is spelled with two Os when used as an adv ) "Stupid" to find that fact yourself.

Ty

[-] 2 points by jpbarbieux (137) from Palmetto Bay, FL 8 years ago

The republicans created the bailouts and tarp. The economy tanked in Bush 'league' term, The "socialist' millionaire pulled the economy out of the crevasse.

[-] 1 points by MonetizingDiscontent (1257) 8 years ago

As long as we are walking through history, lets remember Clinton signed the repeal of Glass Steagall into law, which deregulated the banks, which gave the bankers the weasel-room to run this country into the ground. And he gave us NAFTA, we have ran up trade deficits ever since.

Then came war and TARP under Bush. Which was expanded upon by Obama with more Bailouts and more war.

So, where is all the difference between these two parties? Obama could've stopped the wars. He had his chance to stop the cronyism and bailouts. but no. BOTH parties have abandon the people, not the other way around. Think for yourselves, thats what I say.

Does anyone really think that the ones who created the problems (gov politicians and special interests) are now going to solve them, FOR us? dont hold your breath, and try not to put all your eggs into either political party's basket.

Each new crisis that they create brings them even more opportunity to consolidate power and rob the coffers. And with each new crisis the people seem to be begging for even more of their brilliant 'sollutions' ...like a ping pong ball back and forth across the table...

goodgawd

Left & Right are purely a division tactic and keeps 'Americans' divided.

Left&Right must BOTH come together and agree that malfeasance is prevalent throughout the majority of the house & senate, ON BOTH SIDES OF THE AISLE.

We must be willing to call out corruption WHEREVER it's found, we must be willing to look within our OWN preferred party (if you have one) to find it.

I cringe at all this left-right division. BOTH parties have contributed GREATLY to where we are so lets get off this 'MyParty VS. YourParty SuperBowlSunday Mentality shall we, everyone?

[-] 1 points by tomcat68 (298) 8 years ago

so, since it crashed in a bush term you figure he caused it.

[-] 1 points by jpbarbieux (137) from Palmetto Bay, FL 8 years ago

No we did. Our lust for riches.

[-] 2 points by unimportant (716) 8 years ago

I know, proof is to much for you to post so I won't ask. I will just say you are mistaken again. Until you actually present evidence/proof of your claims you aren't worth reading or responding to.

[-] 0 points by tomcat68 (298) 8 years ago

ok. so posting links to other websites = proof in your opinion.

how about doing a little "devils advocate research" unless you are afraid of what you might find.

just sayin

[-] 2 points by unimportant (716) 8 years ago

The information I posted was originally from the treasurydirect.gov where is your proof?

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

Oh, you have none, my mistake.

[-] 0 points by tomcat68 (298) 8 years ago

why do you think I have anything to prove to you? If you don't already know what I mentioned, you have had your head in a hole. even die hard dumbocrats know Obama has spent more than All presidents combined. and still you want me to post a link for you.

seriously. go find a friend

[-] 2 points by unimportant (716) 8 years ago

I really enjoy your stupidity. You make a statement and then post proof and then claim you mentioned it. Then your defense is I am some how a democrat so you can some how escape your own ignorance and stupidity.

I posted a link that shows the expenditures for each president until 2007. You provide vapor. Your entire platform is vapor. IOW you are moron that thinks to escape the responsibility for your stupidity by making false claims about the person that pinned your ears back.

Now kid, GFY.

[-] 1 points by tomcat68 (298) 8 years ago

you are a joke. seriously. and when I want to get into a name calling contest and play the insult game? I'll wipe your ass all over any forum. shit for brains.

AGAIN, Please do yourself a favor and go find a friend.

[-] 1 points by unimportant (716) 8 years ago

Son, you are dumber than a spoonful of dirt. I have dealt with idiots like you my entire life and not one of you have the guts to stand up and do what need be done. Instead you think you are smart and start with your stupidity believing all others are dumber than you.

I refer to this as "so dumb you don't even know how dumb you truly are".

Your intelligence has led you to multiple wrong conclusions that you then use to make further errors.

Not a democrat, not a republican, not a party member of any party. I don't vote for a party I vote for the Candidate. I vote for what is best for my Country and not what is always in my best interests. I vote to raise property and income taxes instead of bond measures. I pay a lot of taxes and would pay more to fix the schools, but I won't pawn the future of our youth to do so.

Can you say the same thing, no....

You are a self-absorbed little assclown and nothing more, and no, I don't need or want you any where near my ass kid. One term I recently heard fit you perfectly. A bobble headed giggle twit.

Now do the rest of the world a favor and stop posting about things you know nothing about. If you did this then we would hear little to nothing from you my little bobble headed giggle twit.

[-] 1 points by tomcat68 (298) 8 years ago

rofl another "son" lol did it really hurt your little feelers to be called that? made you feel pretty small didn't it? that's as far into your spew of ignorance I managed to read.

okie dokie daddy you tell us. everyone here is just hanging on the edge of their seats to read what you will type next.

thank you So much in advance

[-] 1 points by unimportant (716) 8 years ago

Half sentences really demonstrate your level of intelligence kid.

[okie dokie daddy you tell us]

Help yourself to another spoonful of dirt kid.

[-] 3 points by JonoLith (467) 8 years ago

For the love of God. When are we going to stop talking about Liberal V. Conservative, and for once actually talk about Corruption V. Non-Corruption. Or how about asking a question like "How can we help humanity" as opposed to "How do we keep the bankers happy."

Fun Fact: Arguing about Liberal V. Conservative makes bankers HAPPY! The more you talk about meaningless drivel, the less you're talking about how they're stealing money from right under you.

[-] 2 points by monjon22 (508) 8 years ago

I agree with you JonoLith. The elite do love it when the great unwashed squable over liberal vs conservative and Democrat vs Republican. Keep the great unwashed busy with trivia while they rape the country. Bush = Obama.

[-] 0 points by tomcat68 (298) 8 years ago

one thing at a time my friend, once we get the corrupt liberal out of government, we can focus on industry, markets, day to day business.

but you will never get anywhere wearing a blindfold to everything your Leader is doing.

[-] 3 points by JonoLith (467) 8 years ago

Oh please, Obama is a Criminal, but guess what.... so is every Republican that's sat in office since Regan.

If we get rid of this "Liberal", that just means we'll replace him with an equally corrupt "Conservative." Even though neither of them are Liberals or Conservatives at all, just Criminals.

[-] 1 points by SparkyJP (1646) from Westminster, MD 8 years ago

Great Post !!!

[-] 1 points by monjon22 (508) 8 years ago

I am not going to vote in 2012. No one should vote. Voting will only serve to legitimize an illegitimate government.

[-] 1 points by tomcat68 (298) 8 years ago

agreed, if we can get everyone to boycott the polls next year it would send a statement to Washington. we have lost All Faith in our system and our leaders

[-] 1 points by Scout (729) 8 years ago

agreed! Both sides are the same no difference

[-] 2 points by MonetizingDiscontent (1257) 8 years ago

:::::Newsflash:::: Both parties are money junkies, and want to spend more. Both want more debt.

[-] 2 points by Jonas541 (72) 8 years ago

Who lied us ino spending a trillion dollars in Iraq?

[-] 0 points by tomcat68 (298) 8 years ago

no one :) we needed to be there and who cares what you think the reasons were. we NEED to be in the middle east. small world

[-] 1 points by badconduct (550) 8 years ago

The adoption of socialism in general caused the deficit. But remember; Liberals tend to spend money on the population; Conservatives tend to spend money on military, putting the money into the hands of other nations.

[-] 2 points by MonetizingDiscontent (1257) 8 years ago

::::::::JP Morgan caught stealing customer money, just like MF Global::::::::

http://maxkeiser.com/2011/11/19/jp-morgan-caught-stealing-customer-money-just-like-mf-global/


::::::::::::JPMorgan hit with record £33m fine::::::::::::

http://www.dailymail.co.uk/money/article-1283817/JPMorgan-hit-record-33m-fine.html

JPMorgan has been slapped with the largest fine ever issued by the Financial Services Authority and the watchdog also warns that it has 'several more' banks in its sights.

The Wall Street firm, where Tony Blair works as an adviser, has been told to pay £33.32million for failing to keep client funds separate from its own in its futures and options business.

As first reported by the Daily Mail last August, for an astonishing seven-year period JPMorgan failed to protect its customers by keeping their cash properly ring-fenced.


[-] 2 points by GirlFriday (17435) 8 years ago

Why can't they go to jail like anyone else?

Really.

[-] 2 points by monjon22 (508) 8 years ago

$33 million is nothing to a big bank like JPMorgan. It is a mere slap on the wrist.

[-] 2 points by MonetizingDiscontent (1257) 8 years ago

The Final Straw? Jefferies And Six Other Banks Sued For "Fraudulent" MF Global Bond Issuance

http://www.zerohedge.com/news/final-straw-jefferies-and-six-other-banks-sued-fraudulent-mf-global-bond-issuance


6 of the 7 are Bank Holding Companies, and have access to the Fed’s various emergency facilities. The seventh, Jefferies, does not. Bye-bye Jefferies.

http://maxkeiser.com/2011/11/19/6-of-the-7-are-bank-holding-companies-and-have-access-to-the-feds-various-emergency-facilities-the-seventh-jefferies-does-not-bye-bye-jefferies/


[-] 1 points by Scout (729) 8 years ago

many of the comments below have deteriorated into a slanging match between Republicans and Democrats. That is sad because nothing will be achieved until people become aware that BOTH sides are equally as bad. It is nothing but a mirage to the American people that you have a two-party system. you dont !! you have an Oligarchy that funds two parties that superficially looked different but are both serving the same people who give them the money. Wake up America! both political parties are involved in insider trading and not one of them will face criminal charges? Congress and Senate needs to be completely overhaul.ed

[-] 2 points by MonetizingDiscontent (1257) 8 years ago

Thats right, After BushObama there is no excuse and it should be clear to any child. Both parties have abandon the people. Not the other way around.

Break the false left right paradigm. Left and Right make up the offense and defense of the same corrupt team. Two wings of the same predatory bird.

If we are going to realize the scope, the magnitude of what has happened, we Must be willing to look at the corruption within our own party affiliations. We must be willing to root out corruption WHEREVER it is found, and get off this pathetic -myteamVS.yourteam- mentality. This isn't the SuperBowl y'all.

[-] 1 points by SparkyJP (1646) from Westminster, MD 8 years ago

I'm in favor of a Direct Democracy; where the people conduct oversight of the government and is essentially "The Executive Branch" . Technology is the tool that can get us there.

Read more here: http://www.osixs.org/Rev2_menu_commonsense.aspx

“The issue today is the same as it has been throughout all history - whether man shall be allowed to govern himself or be ruled by the small elite."

         - Thomas Jefferson            

Cheers!

[-] 1 points by Builder (4202) 8 years ago

Yeah, free cash for everyone.

Or a box of cold beer. yeah.

That'll fix everything. for a day or so.