Wall Street Banks Lost $55 Billion in Just One Day
Wall Street's 4 top banks just had $55 billion wiped off their market value in a single day. Here are the latest market news and updates.
Ex-JPMorgan Gold Trader Faces 30 Years in Prison for Spoofing
An Ex-JPMorgan Gold trader was found guilty of fraud in the commodities market. Christopher Jordan was convicted of wire fraud affecting a financial institution by a federal judge in Chicago, the latest win for U.S prosecutors in their crackdown on…
JP Morgan Manipulated Gold to Keep Hedge Funds Happy
An ex-trader says JP Morgan spoofed gold to keep hedge funds happy. He says client orders made a lot of money for the bank. Big hedge funds like Moore Capital Management and Tudor Capital Corp. were so important to JPMorgan Chase…
Are Hedge Funds About To Get Margin Called by JP Morgan?
According to RISK.net JP Morgan warns hedge funds of intraday margin calls. This sounds very similar to proposal 002. The U.S bank may demand margins up to “7 times per day” according to sources. The tough love comes from the fear of losing…
