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jasonxctf

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QUOTE (Balta1701 @ May 22, 2012 -> 03:30 PM)
$15 billion would be a lot of cash to hold on to if you were only expecting to have to cover a $2-$3 billion hole.

 

 

QUOTE (Cknolls @ May 22, 2012 -> 09:04 PM)
Well to be fair. The 15 billion repurchase is probably to be executed over a couple of years. These are not done in one year.

Making that number make more sense:

Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation.
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Barclay's has reached a $450 million settlement with US and European regulators which establishes that they illegally manipulated LIBOR, the inter-bank lending rate which is used by a multitude of other financial instruments to set rates. According to the Wikipedia, LIBOR underpins about $350 trillion (yes) in financial instruments, so a small variation in that rate can have something of a big impact. So basically, for a period of years, they were ripping off everyone in the world to some extent.
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So after the riots last year, some people in Britain were prosecuted and sentenced to as much as several years in jail for stealing a water bottle in a fast-track trial.

 

Why aren't all of these people, who have stolen tens of millions if not more, locked in jail yet?

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QUOTE (southsider2k5 @ Jun 21, 2012 -> 09:48 AM)
Oil futures fighting $80. Gas futures under $2.60 in front month, down in the $2.20's out a few months. That could indicate sub-$3 gas in the fall.

 

Notice as soon as this happens, we send warships to the Persian Gulf, followed by Iran missle tests. (And note the timing). You would think that W. was president again.

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QUOTE (StrangeSox @ Jul 5, 2012 -> 04:50 PM)
The Economist has a piece on the LIBOR scandal:

 

http://www.economist.com/node/21558260

 

I still gotta ask, why isn't anyone in jail?

Well this one did just break. In this country no one will go to jail, but the Brits might be willing to enforce their laws more stringently, we'll see.

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QUOTE (Cknolls @ Jul 10, 2012 -> 08:07 AM)
http://www.cbsnews.com/8301-500395_162-574...customer-funds/

 

 

Another MF but on a smaller scale. And some of the customers were transplants from MF. Talk about bad luck. Just make a cash matress and sleep on it!

 

Would not want to be working in the audit dept. of the NFA.

 

The NFA and CFTC are jokes.

 

Still, I'll never understand being stupid enough to touch seg funds.

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QUOTE (Balta1701 @ Jul 10, 2012 -> 08:27 AM)
If no one goes to jail...why not?

 

Trying to kill yourself is much better...

 

On a side note, it might take a while, mostly because our regulatory system sucks, but there will be jail time. Touching seg funds is worse than insider trading in reality.

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QUOTE (southsider2k5 @ Jul 10, 2012 -> 12:04 PM)
So funds might have been missing since November... maybe longer. Quality work NFA!

 

http://www.reuters.com/article/2012/07/10/...E86905120120710

"When you steal $600 million dollars you can just walk away, when you steal $600 they will find you unless they think you're already dead".

 

Hans Gruber, if he lived to 2012.

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QUOTE (Balta1701 @ Jul 10, 2012 -> 11:12 AM)
"When you steal $600 million dollars you can just walk away, when you steal $600 they will find you unless they think you're already dead".

 

Hans Gruber, if he lived to 2012.

 

e.g.:

 

Arrests from Barclays stealing millions:

 

Sentence for stealing bottled water during the London riots? 6 months.

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QUOTE (StrangeSox @ Jul 10, 2012 -> 11:23 AM)
e.g.:

 

Arrests from Barclays stealing millions:

 

Sentence for stealing bottled water during the London riots? 6 months.

 

That's because it was done in conjunction with the British government from the sounds of it.

 

Also it is irrelevant to this discussion as that was Britain, and this is not. The only other person who has been accused of this in the US is currently under investigation, cooperation has been minimal. Right now this is yet another statement of how pathetic our regulatory system is in this country.

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QUOTE (southsider2k5 @ Jul 10, 2012 -> 12:27 PM)
That's because it was done in conjunction with the British government from the sounds of it.

It'll end up being along with a lot more than just the British government before this is over. This was an easy way to steal billions. Every big bank in the world is going to get caught up in this. UBS and DB seem to be next on the list, and the US banks still have the fed turning the other way for now but eventually they'll have to do something when the claims start piling up.

 

Total, systemic fraud permeating the entire system, enabled and encouraged by the governments.

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