The Banksters and the Prophecy of Thomas Jefferson (1802)

Current Economy and Sustainable Development-compatible? GDP growth (at all costs), economic development, inflation ... How concillier the current economy with the environment and sustainable development.
moinsdewatt
Econologue expert
Econologue expert
posts: 5111
Registration: 28/09/09, 17:35
Location: Isére
x 554




by moinsdewatt » 10/08/13, 13:37

US wants to arrest 2 ex-JPMorgan employees

August 10, 2013

US authorities want to arrest two ex-employees of JPMorgan Chase linked to giant losses last year in the so-called "London whale" affair, two American dailies say Friday. These two men worked in the London office of investments in own of JPMorgan, alongside Bruno Iksil, the French trader nicknamed "the whale of London" for the astronomical positions he had taken in European credit derivatives. This strategy backfired the bank and cost it more than $ XNUMX billion in total.

According to the New York Times, which quotes sources close to the investigation, they could be arrested in the coming days on criminal charges of fraud. The Wall Street Journal points out that Javier Martin-Artajo, who supervised the trading strategy, and Julien Grout, a trader, are probably in the United Kingdom which will require collaboration with the British authorities as well as a procedure for 'extradition. Mr. Iksil himself should not be worried, while some of his emails of the time seem to show that he tried to raise the alarm about the too large size of the positions taken on the derivatives market.

For a year, the US Department of Justice has been investigating whether the traders behind the offending bets have knowingly understated the value of their positions to hide the extent of the losses, the Wall Street Journal recalls.


http://www.europe1.fr/International/Les ... n-1606999/
0 x

 


  • Similar topics
    Replies
    views
    Last message

Back to "Economy and finance, sustainability, growth, GDP, ecological tax systems"

Who is online ?

Users browsing this forum : No registered users and 151 guests