J.P. Morgan to Pay $920 Million Fine in 'London Whale' Trades.

[jones jones]

I mean this is like close to a billion dollars!

So I have a few questions:

Firstly: Where do these droids get this type of money from to pay a fine like this?

Secondly: If they have money like this on hand ... why do they have it?

[Bryn Mawr]

jones jones;1436337 wrote: I mean this is like close to a billion dollars!

So I have a few questions:

Firstly: Where do these droids get this type of money from to pay a fine like this?

Secondly: If they have money like this on hand ... why do they have it?


For JPM that represents a half of one percent of their nett capital value - it's a big company.

The Basle II agreement sets a minimum level of capitalization that each bank must hold in reserve - for someone like JPM that would be about four percent.

[jones jones]

Bryn Mawr;1436341 wrote: For JPM that represents a half of one percent of their nett capital value - it's a big company.

The Basle II agreement sets a minimum level of capitalization that each bank must hold in reserve - for someone like JPM that would be about four percent.


No company should have the right to funds like this ...

I am beginning to think that communism may be the answer ... 'cept I don't know the question.

[jones jones]

And what puzzles me is that when stuff like this happens, its almost always the junior brokers who take a fall. Top management seem immune for some reason and keep on collecting their bonus year after year ...

[Bryn Mawr]

jones jones;1436345 wrote: And what puzzles me is that when stuff like this happens, its almost always the junior brokers who take a fall. Top management seem immune for some reason and keep on collecting their bonus year after year ...


:wah: Ask gmc about that - pisses him off something awful :wah:

Actually a few of the bosses have been hit but far too few.