Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:15 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:3,718
Points:635,020
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:3,718
Points:635,020
Joined:Jun 2012
Message Posted: Jul 28, 2013 8:58:36 AM

Speculators suck.
Profile Pic
captcarl5
Champion Author Pennsylvania

Posts:2,694
Points:676,610
Joined:Oct 2012
Message Posted: Jul 27, 2013 8:51:53 PM

ok
Profile Pic
Night Owl
Champion Author Toronto

Posts:9,795
Points:2,289,075
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:6,528
Points:1,376,550
Joined:Dec 2010
Message Posted: Jul 27, 2013 11:43:48 AM

Good business decision.
Profile Pic
mastermariner
Champion Author Texas

Posts:12,467
Points:981,935
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:2,839
Points:1,528,820
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:3,718
Points:635,020
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:7,121
Points:1,674,910
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:4,889
Points:1,065,850
Joined:Oct 2011
Message Posted: Jul 27, 2013 8:16:20 AM

History repeats itself.
Profile Pic
merlinCO
Champion Author Colorado

Posts:3,955
Points:841,935
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:12,528
Points:1,805,920
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:10,817
Points:2,248,730
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:624,400
Points:613,600
Joined:Feb 2013
Message Posted: Jul 27, 2013 5:55:51 AM

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

Posts:54,884
Points:2,882,515
Joined:Mar 2006
Message Posted: Jul 27, 2013 5:50:58 AM

buh bye
Profile Pic
YumaFellow
Champion Author Arizona

Posts:3,563
Points:1,089,605
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:12,584
Points:2,852,260
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:6,768
Points:1,219,130
Joined:Apr 2008
Message Posted: Jul 27, 2013 2:43:16 AM

Imagine that?
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:10,761
Points:2,210,240
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:303,580
Joined:May 2012
Message Posted: Jul 27, 2013 1:56:50 AM

Ok
Profile Pic
pricewar
Champion Author Ogden

Posts:4,321
Points:784,755
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:12,730
Points:2,489,700
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:12,790
Points:2,514,375
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:6,920
Points:800,820
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:2,177
Points:663,425
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:10,487
Points:2,393,035
Joined:Jul 2007
Message Posted: Jul 27, 2013 1:16:29 AM

That's cool.
Profile Pic
NemoIL
Champion Author Illinois

Posts:5,072
Points:1,776,045
Joined:Aug 2008
Message Posted: Jul 27, 2013 1:15:35 AM

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

Posts:5,346
Points:1,316,300
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:10,378
Points:2,412,810
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:3,718
Points:911,475
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:9,120
Points:2,138,140
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:6,666
Points:1,975,090
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:5,055
Points:1,259,050
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:5,385
Points:1,110,475
Joined:Sep 2011
Message Posted: Jul 27, 2013 1:04:56 AM

What?
Profile Pic
OGW
Champion Author London

Posts:6,863
Points:1,967,515
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:4,768
Points:1,113,980
Joined:May 2011
Message Posted: Jul 27, 2013 1:04:49 AM

Oh pleade
Profile Pic
chuckwthompson
Champion Author Charlotte

Posts:6,115
Points:1,087,085
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:2,590
Points:1,450,185
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:20,609
Points:3,125,995
Joined:Dec 2005
Message Posted: Jul 27, 2013 1:01:13 AM

- Very Interesting . . . .








Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,461
Points:1,077,680
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:5,998
Points:1,232,580
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:2,838
Points:849,900
Joined:Sep 2005
Message Posted: Jul 27, 2013 12:59:17 AM

Good.
Profile Pic
Tsunamiron
Champion Author Jacksonville

Posts:3,636
Points:1,057,300
Joined:Mar 2011
Message Posted: Jul 27, 2013 12:59:16 AM

JPMorgan SUX!
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,244
Points:2,639,040
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:263,805
Joined:Feb 2013
Message Posted: Jul 27, 2013 12:56:10 AM

crooks
Profile Pic
Captlars
Champion Author Grand Rapids

Posts:1,511
Points:399,280
Joined:Jun 2013
Message Posted: Jul 27, 2013 12:55:43 AM

Okay
Profile Pic
wz
Champion Author Twin Cities

Posts:4,782
Points:1,784,195
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:8,779
Points:2,602,725
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:2,309
Points:989,040
Joined:Jul 2011
Message Posted: Jul 27, 2013 12:49:32 AM

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

Posts:3,201
Points:662,955
Joined:Mar 2008
Message Posted: Jul 27, 2013 12:47:56 AM

k
Post a reply Back to Topics