Oh My, Another round of slaps over the air!
This video is called US senators grill JPMorgan over hidden losses.
By Barry Grey in the USA:
Senate report documents fraud and lawbreaking by JPMorgan Chase
16 March 2013
The Senate Permanent Subcommittee on Investigations released a 300-page report Thursday documenting systematic fraud and deception by JPMorgan Chase, the biggest US bank, in connection with over $6.2 billion in losses from high-risk speculative trades in financial derivatives in 2012.
The losses, incurred by the bank’s London-based Chief Investment Office (CIO) and a trader dubbed the “London whale” because of the size of his bets, were concealed from investors, analysts, regulators and the public by the bank’s top management, including its chairman and CEO, Jamie Dimon.
The report details from emails, phone conversations and interviews with bank officials the use of accounting gimmicks to vastly understate the scale of the losses in the first quarter of 2012, the withholding…
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