Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:28 AM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: JPMorgan Mulls Physical Commodities Exit Amid U.S. Review Back to Topics
Sanpoil

Champion Author
Spokane

Posts:4,011
Points:733,075
Joined:Jun 2012
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.
Visit Bloomberg for full article
REPLIES (newest first) Post a Reply
Profile Pic
Sanpoil
Champion Author Spokane

Posts:4,011
Points:733,075
Joined:Jun 2012
Message Posted: Jul 28, 2013 8:58:36 AM

Speculators suck.
Profile Pic
captcarl5
Champion Author Pennsylvania

Posts:2,966
Points:773,460
Joined:Oct 2012
Message Posted: Jul 27, 2013 8:51:53 PM

ok
Profile Pic
Night Owl
Champion Author Toronto

Posts:10,065
Points:2,386,025
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.
Profile Pic
sljbc475
Champion Author Tucson

Posts:6,793
Points:1,473,175
Joined:Dec 2010
Message Posted: Jul 27, 2013 11:43:48 AM

Good business decision.
Profile Pic
mastermariner
Champion Author Texas

Posts:12,718
Points:1,076,895
Joined:Jun 2011
Message Posted: Jul 27, 2013 10:36:52 AM

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

Posts:2,976
Points:1,620,695
Joined:Jul 2004
Message Posted: Jul 27, 2013 9:26:54 AM

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

Posts:4,011
Points:733,075
Joined:Jun 2012
Message Posted: Jul 27, 2013 9:20:49 AM

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

Posts:7,381
Points:1,769,265
Joined:May 2009
Message Posted: Jul 27, 2013 8:53:30 AM

problems with speculation and market manipulation
Profile Pic
Skunk63
Champion Author Phoenix

Posts:5,164
Points:1,162,700
Joined:Oct 2011
Message Posted: Jul 27, 2013 8:16:20 AM

History repeats itself.
Profile Pic
merlinCO
Champion Author Colorado

Posts:4,227
Points:938,785
Joined:Mar 2012
Message Posted: Jul 27, 2013 8:10:15 AM

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

Posts:12,849
Points:1,902,870
Joined:Aug 2006
Message Posted: Jul 27, 2013 6:34:39 AM

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

Posts:11,095
Points:2,346,805
Joined:Jun 2008
Message Posted: Jul 27, 2013 6:13:19 AM

All right they should probe nore
Profile Pic
USMCturtlehead
Champion Author Lexington

Posts:733,500
Points:709,450
Joined:Feb 2013
Message Posted: Jul 27, 2013 5:55:51 AM

Have to agree with YumaFellow!
Profile Pic
humblepie
Champion Author Toledo

Posts:57,477
Points:2,978,445
Joined:Mar 2006
Message Posted: Jul 27, 2013 5:50:58 AM

buh bye
Profile Pic
YumaFellow
Champion Author Arizona

Posts:3,826
Points:1,177,370
Joined:Jan 2011
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.
Profile Pic
djgunrunner
Champion Author Salt Lake City

Posts:12,862
Points:2,948,110
Joined:Apr 2005
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]
Profile Pic
KhelbenArunson
Champion Author Michigan

Posts:7,016
Points:1,313,895
Joined:Apr 2008
Message Posted: Jul 27, 2013 2:43:16 AM

Imagine that?
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:11,022
Points:2,305,640
Joined:Jul 2008
Message Posted: Jul 27, 2013 2:04:49 AM

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

Posts:1,455
Points:303,780
Joined:May 2012
Message Posted: Jul 27, 2013 1:56:50 AM

Ok
Profile Pic
pricewar
Champion Author Ogden

Posts:4,603
Points:880,605
Joined:Jul 2012
Message Posted: Jul 27, 2013 1:37:18 AM

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

Posts:12,997
Points:2,585,345
Joined:Oct 2007
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.
Profile Pic
REVLAW
Champion Author San Antonio

Posts:13,061
Points:2,611,225
Joined:Jul 2007
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").
Profile Pic
Discovery02
Champion Author Colorado Springs

Posts:7,460
Points:897,770
Joined:May 2012
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.
Profile Pic
2b0b
Champion Author Tulsa

Posts:2,536
Points:759,375
Joined:Sep 2012
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.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,742
Points:2,486,635
Joined:Jul 2007
Message Posted: Jul 27, 2013 1:16:29 AM

That's cool.
Profile Pic
NemoIL
Champion Author Illinois

Posts:5,287
Points:1,864,895
Joined:Aug 2008
Message Posted: Jul 27, 2013 1:15:35 AM

JPMorgan is an interesting company.
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:5,591
Points:1,412,160
Joined:Sep 2009
Message Posted: Jul 27, 2013 1:15:09 AM

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

Posts:10,648
Points:2,508,660
Joined:Feb 2007
Message Posted: Jul 27, 2013 1:14:27 AM

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

Posts:3,977
Points:1,003,855
Joined:Mar 2011
Message Posted: Jul 27, 2013 1:12:33 AM

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

Posts:9,390
Points:2,233,990
Joined:Nov 2005
Message Posted: Jul 27, 2013 1:12:01 AM

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

Posts:6,744
Points:2,049,925
Joined:Jun 2007
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.
Profile Pic
radiorumor
Champion Author Texas

Posts:5,285
Points:1,351,000
Joined:Feb 2011
Message Posted: Jul 27, 2013 1:05:37 AM

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

Posts:5,666
Points:1,208,550
Joined:Sep 2011
Message Posted: Jul 27, 2013 1:04:56 AM

What?
Profile Pic
OGW
Champion Author London

Posts:6,975
Points:2,056,260
Joined:Sep 2005
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!
Profile Pic
Thomtec
Champion Author Nashville

Posts:5,026
Points:1,210,185
Joined:May 2011
Message Posted: Jul 27, 2013 1:04:49 AM

Oh pleade
Profile Pic
chuckwthompson
Champion Author Charlotte

Posts:6,380
Points:1,182,710
Joined:Sep 2011
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!
Profile Pic
FocusFree
Champion Author Ottawa

Posts:2,812
Points:1,538,780
Joined:Dec 2009
Message Posted: Jul 27, 2013 1:03:27 AM

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

Posts:20,886
Points:3,223,220
Joined:Dec 2005
Message Posted: Jul 27, 2013 1:01:13 AM

- Very Interesting . . . .








Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,723
Points:1,174,905
Joined:Sep 2011
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....
Profile Pic
ExplorerWA
Champion Author Washington

Posts:6,012
Points:1,318,610
Joined:Feb 2011
Message Posted: Jul 27, 2013 1:00:11 AM

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

Posts:3,057
Points:935,870
Joined:Sep 2005
Message Posted: Jul 27, 2013 12:59:17 AM

Good.
Profile Pic
Tsunamiron
Champion Author Jacksonville

Posts:3,906
Points:1,153,250
Joined:Mar 2011
Message Posted: Jul 27, 2013 12:59:16 AM

JPMorgan SUX!
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,519
Points:2,737,115
Joined:Apr 2007
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!
Profile Pic
BALRSTATUS
Champion Author Grand Rapids

Posts:1,192
Points:266,505
Joined:Feb 2013
Message Posted: Jul 27, 2013 12:56:10 AM

crooks
Profile Pic
Captlars
Champion Author Grand Rapids

Posts:1,511
Points:459,680
Joined:Jun 2013
Message Posted: Jul 27, 2013 12:55:43 AM

Okay
Profile Pic
wz
Champion Author Twin Cities

Posts:5,052
Points:1,881,045
Joined:Feb 2009
Message Posted: Jul 27, 2013 12:53:43 AM

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

Posts:9,045
Points:2,699,350
Joined:Oct 2005
Message Posted: Jul 27, 2013 12:52:10 AM

They are all crooks.
Profile Pic
jcdakota
Champion Author Baltimore

Posts:1,618
Points:415,920
Joined:Nov 2010
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.
Profile Pic
ToddsPhone
Champion Author Wilmington

Posts:2,569
Points:1,084,640
Joined:Jul 2011
Message Posted: Jul 27, 2013 12:49:32 AM

Yeah...okay.
Profile Pic
Methodist
Champion Author Indiana

Posts:3,477
Points:758,580
Joined:Mar 2008
Message Posted: Jul 27, 2013 12:47:56 AM

k
Post a reply Back to Topics