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View Diary: "Senate Censors Part of Report on JPMorgan About Its Stock Trading," by Pam Martens (63 comments)

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  •  So why hide their stock trading of everybody (0+ / 0-)

    already knows it?

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Mon Mar 18, 2013 at 07:45:41 PM PDT

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    •  Because they take their fees in stock. (0+ / 0-)

      Facebook IPOs - they pay the bookrunner 1 million shares then the bookrunner shorts at the top and covers with fee stock later.

      It is shady but everyone knows they do it for 80+ years.

      "The way to see by faith is to shut the eye of reason." - Thomas Paine

      by shrike on Mon Mar 18, 2013 at 08:01:32 PM PDT

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      •  80 Years of Shady (6+ / 0-)

        "Crooked for 80 years" isn't less bad than "crooked", it's worse.

        "When the going gets weird, the weird turn pro." - HST

        by DocGonzo on Mon Mar 18, 2013 at 09:59:48 PM PDT

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      •  And the bookrunner knows where the top is? (2+ / 0-)
        Recommended by:
        semiot, Cassiodorus

        Losses on shorts have no limit.  Additional risk.  Plus, what you describe looks a lot like market manipulation.  Shorting a huge amount of stock could easily drop a stock price.

        And in any case, why hide the information that everyone knows unless, of course, they don't and the authorities want to enable the bank to cover up something.  

        The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

        by accumbens on Tue Mar 19, 2013 at 06:18:47 AM PDT

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