JP Morgan hit with record $920 million penalty after admitting eight-year spoofing scheme

They were operating as a Fed proxy to stomp down metals and keep yields low on treasuries. Must have gotten caught by whistle blower whom shared info with many people. Fed probably shifted this work to another mob family as of 2016. JP probably made triple the fine as they had Fed inside information. Notice the dates. JP was supposedly one of the few banks not involved in sub prime mortgage backed securities, yet here it looks as though they were front running the whole rate induced real estate bubbled with full support of the Fed. This is why they remained intact after the crash. They were and still are a Fed proxy in all markets as is Goldman... working with complete inside info.

Rule Number 1: Keep the fiat farce going as long as possible.
Rule Number 2: Keep rates at zero for as long as possible.
 
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And the Chairman of JPM will be the Treasury Chief in the Biden administration. It’s hilarious to think that gullible people think there’s a difference between Republicans and Democrats.

Same feeding trough and power players.
Pricechange said:
They were operating as a Fed proxy to stomp down metals and keep yields low on treasuries. Must have gotten caught by whistle blower whom shared info with many people. Fed probably shifted this work to another mob family as of now. JP probably made triple the fine as they had Fed inside information.

Rule Number 1: Keep the fiat farce going as long as possible.
Rule Number 2: Keep rates at zero for as long as possible.
More...
 
J.P. Morgan's alleged crime ring:Mike Nowak's global trading desk at JPMorgan was the powerhouse in futures contracts for gold, silver, platinum and palladium. Now, federal prosecutors have accused him and two other traders for participating in a racketeering conspiracy in connection with a multi-year scheme to manipulate the markets and defraud customers. In charging Nowak and others, prosecutors are testing an unusual application of a law formulated to battle mobsters, the RICO Act. This one is fascinating.(Bloomberg)
 
I do not think you people understand the
significance of the 920m JPM fine. Indendepent
smart spoofing trader Navindir Sighn Sarao
took one for the team. The US Government
regulators maybe have finally caught on that
the playing field is not level. There might even
be some honest Elliot Ness type regulators.
My idea for a 2030 "green" new deal is every GS
partner in prison for financial fraud.
 
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