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Author Topic: JPMorgan Mulls Physical Commodities Exit Amid U.S. Review Back to Topics
Sanpoil

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Spokane

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Message Posted: Jul 27, 2013 12:00:59 AM

JPMorgan Chase & Co. (JPM) said it plans to get out of the business of owning and trading physical commodities ranging from metals to oil, three days after a congressional panel questioned whether banks are using their ownership of raw materials to manipulate markets.

The statement also comes as JPMorgan negotiates a settlement with the Federal Energy Regulatory Commission that may include a $400 million fine and other penalties, according to a person familiar with the negotiations.
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REPLIES (newest first) Post a Reply
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Sanpoil
Champion Author Spokane

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Message Posted: Jul 28, 2013 8:58:36 AM

Speculators suck.
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captcarl5
Champion Author Pennsylvania

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Message Posted: Jul 27, 2013 8:51:53 PM

ok
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Night Owl
Champion Author Toronto

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Joined:Jul 2004
Message Posted: Jul 27, 2013 12:26:13 PM

Greedy Wall Street oil speculators should all be kicked out. Of course they're manipulating markets. They have no need for physical commodities.
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sljbc475
Champion Author Tucson

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Message Posted: Jul 27, 2013 11:43:48 AM

Good business decision.
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mastermariner
Champion Author Texas

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Message Posted: Jul 27, 2013 10:36:52 AM

Some people call it greed others say good business sense
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dandvicb
Champion Author Bridgeport

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Message Posted: Jul 27, 2013 9:26:54 AM

It's called GREED!!!! Many people are becoming "1% ers" !!!!
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Sanpoil
Champion Author Spokane

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Message Posted: Jul 27, 2013 9:20:49 AM

I hope this is the first of many.
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Ray_10589
Champion Author New York

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Message Posted: Jul 27, 2013 8:53:30 AM

problems with speculation and market manipulation
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Skunk63
Champion Author Phoenix

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Message Posted: Jul 27, 2013 8:16:20 AM

History repeats itself.
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merlinCO
Champion Author Colorado

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Message Posted: Jul 27, 2013 8:10:15 AM

And find out who funded those transactions????
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bar1035
Champion Author Charlotte

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Message Posted: Jul 27, 2013 6:34:39 AM

Yea they plan to... in the 5555 or later
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skippypa
Champion Author Hawaii

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Message Posted: Jul 27, 2013 6:13:19 AM

All right they should probe nore
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USMCturtlehead
Champion Author Lexington

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Message Posted: Jul 27, 2013 5:55:51 AM

Have to agree with YumaFellow!
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humblepie
Champion Author Toledo

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Message Posted: Jul 27, 2013 5:50:58 AM

buh bye
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YumaFellow
Champion Author Arizona

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Message Posted: Jul 27, 2013 5:03:07 AM

Allowing banks to enter the field of stocks and commodities was a mistake and has led to real problems with speculation and market manipulation.
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djgunrunner
Champion Author Salt Lake City

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Message Posted: Jul 27, 2013 3:08:46 AM

When the cards are turned over on the table and everyone can see your hand you have to hold or fold. When you have been running sliders on a game you had best fold, if you have not and have good cards you might want to hold.

[Edited by: djgunrunner at 7/27/2013 3:09:58 AM EST]
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KhelbenArunson
Champion Author Michigan

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Message Posted: Jul 27, 2013 2:43:16 AM

Imagine that?
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roadrunnerMO
Champion Author Kansas

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Message Posted: Jul 27, 2013 2:04:49 AM

Could we be so lucky... fewer speculators.
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bisonjim
Champion Author Florida

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Message Posted: Jul 27, 2013 1:56:50 AM

Ok
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pricewar
Champion Author Ogden

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Message Posted: Jul 27, 2013 1:37:18 AM

greed will get you sooner than you plan
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jimgraham
Champion Author Akron

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Message Posted: Jul 27, 2013 1:36:40 AM

Exit before you get charged and can't get 10 cents on the dollar. And end up with jail time.
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REVLAW
Champion Author San Antonio

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Message Posted: Jul 27, 2013 1:32:44 AM

Amazing. All that money was stolen from you in the form of higher gasoline and energy costs directly derived from the cited speculation and bank manipulation of markets. All this while Obama continues to smile (he must be getting a big "kick back").
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Discovery02
Champion Author Colorado Springs

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Message Posted: Jul 27, 2013 1:24:38 AM

Only talking about ending their manipulation because the flashlight was pointed under the rock they were hiding under.
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2b0b
Champion Author Tulsa

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Message Posted: Jul 27, 2013 1:23:11 AM

And the answer was yes, they had been using borrowed money to buy and store some metals. They then held back needed supplies to drive the price up. And, just like the Hunt brothers, someone should pay damages, and / or go to jail.
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Rageagainsttm
Champion Author Tampa

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Message Posted: Jul 27, 2013 1:16:29 AM

That's cool.
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NemoIL
Champion Author Illinois

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Message Posted: Jul 27, 2013 1:15:35 AM

JPMorgan is an interesting company.
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mcmonsta
Champion Author Honolulu

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Message Posted: Jul 27, 2013 1:15:09 AM

5 billion in profit, 400 million fine ...seems worht it for them
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mfeldstein
Champion Author Ottawa

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Message Posted: Jul 27, 2013 1:14:27 AM

It hasn't happened yet. Bet it won't.
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bearzz
Champion Author California

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Message Posted: Jul 27, 2013 1:12:33 AM

Mulls . . . plans ... what's going to happen?
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DirtDauber
Champion Author San Antonio

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Message Posted: Jul 27, 2013 1:12:01 AM

"If you can't stand the heat, stay out of the kitchen."
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grouch311
Champion Author Peoria

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Message Posted: Jul 27, 2013 1:07:35 AM

I think all these fines, for whatever reason, shouldn't stay with the government, it should be be paid back to us somehow; we're the ones that got these companies their exorbitant profits.
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radiorumor
Champion Author Texas

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Message Posted: Jul 27, 2013 1:05:37 AM

What are the big guys on Wall Street up to now?
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Ron77095
Champion Author Houston

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Message Posted: Jul 27, 2013 1:04:56 AM

What?
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OGW
Champion Author London

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Message Posted: Jul 27, 2013 1:04:49 AM

As Wall Street speculators are known to manipulate markets, I am certain that the big banks are right in there with them!
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Thomtec
Champion Author Nashville

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Message Posted: Jul 27, 2013 1:04:49 AM

Oh pleade
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chuckwthompson
Champion Author Charlotte

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Message Posted: Jul 27, 2013 1:04:13 AM

Do you know what you call 100 speculators at the bottom of a lake?

A damn good start!
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FocusFree
Champion Author Ottawa

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Message Posted: Jul 27, 2013 1:03:27 AM

Isn't that what they paid in bonus money?
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RogerB
Champion Author Indianapolis

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Message Posted: Jul 27, 2013 1:01:13 AM

- Very Interesting . . . .








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SparkieMi
Champion Author Kalamazoo

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Message Posted: Jul 27, 2013 1:00:24 AM

Too little of a fine for what they have done to the market!!!!! Make it so stiff and make an example of them to warn others that they are next....
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ExplorerWA
Champion Author Washington

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Message Posted: Jul 27, 2013 1:00:11 AM

Get out while the getting is good.
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69Bonne
Champion Author Gary

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Message Posted: Jul 27, 2013 12:59:17 AM

Good.
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Jul 27, 2013 12:59:16 AM

JPMorgan SUX!
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pgerassi
Champion Author Milwaukee

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Message Posted: Jul 27, 2013 12:58:28 AM

Force investment banks like GS out of commodities. They have no business being in there. Ban CIFs period!
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BALRSTATUS
Champion Author Grand Rapids

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Message Posted: Jul 27, 2013 12:56:10 AM

crooks
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Captlars
Champion Author Grand Rapids

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Message Posted: Jul 27, 2013 12:55:43 AM

Okay
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wz
Champion Author Twin Cities

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Message Posted: Jul 27, 2013 12:53:43 AM

That's only one speculator out of the market, but it is a good start.
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Zonk
Champion Author Michigan

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Message Posted: Jul 27, 2013 12:52:10 AM

They are all crooks.
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jcdakota
Champion Author Baltimore

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Message Posted: Jul 27, 2013 12:51:01 AM

Physical commodities owning and trading should be illegal - you should own it to use it not to hold it for higher profit.
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ToddsPhone
Champion Author Wilmington

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Message Posted: Jul 27, 2013 12:49:32 AM

Yeah...okay.
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Methodist
Champion Author Indiana

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Message Posted: Jul 27, 2013 12:47:56 AM

k
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