muses of the moment

March 20, 2013

The London Whale

Just because JPMorgan covered the losses to its customers (by no interest government loans no doubt or just creative accounting, remember it is just a paper statement, guys), doesn’t mean they will in the future.

The government hearings on the London Whale scam are very interesting. This is just like MF Global, but without the cash flow crisis. Next time might be larger and uncontainable.

Click here, very important read. JPM was and is trading with customers’ savings.

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