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Wall Street on Parade: Could JPM face another felony charge for metals market rigging?

Section: Daily Dispatches

9:40p ET Tuesday, June 11, 2019

Dear Friend of GATA and Gold:

At Wall Street on Parade, Pam and Russ Martens today note that the extensive criminality of JPMorganChase & Co. is now a matter of record in the gold market too. Their account of the confession of JPM trader John Edmonds probably won't tell you anything you don't know, but their summary of the investment bank's wrongdoing is worth plastering all over the universe:

"Career prosecutors in the Department of Justice and federal judges tend to take a dim view of recidivist Wall Street banks. It is also relevant that the same chairman and CEO, Jamie Dimon, has been allowed by the Board of Directors to remain at the helm of the bank through two probation periods, two deferred prosecution agreements, three criminal felony counts, and $36 billion in fines. And by the way, those three criminal felony counts that occurred under Dimon are three more than the bank received during its prior 100 years."

... Dispatch continues below ...


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Of course lately the bank frequently has operated as a broker and emissary for the U.S. government and its interventions. That may ameliorate the situation.

The commentary by the Martenses is headlined "Could JPMorgan Chase Be Hit with a Fourth Felony Count for Rigging Precious Metals Markets?" and it's posted at Wall Street on Parade here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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