Normally I wouldn't post from ZeroHedge (even though I enjoy reading it) as the majority of their stuff is on the realms of wearing a tinfoil hat, but this one actually has some fact in it at some stuff to think about.
"The trustee liquidating Peregrine Financial Group Inc. asked a judge for authority to subpoena the defunct futures brokerage’s banks including JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) for information about transfers from segregated accounts and proprietary accounts." (this is actually a Bloomberg quote)
http://www.zerohedge.com/news/jpm-be-subpoenaed-o…
TL;DR version - JPM is being subpoenaed over some of the missing money from PFG.
This, along with accusations and almost-proof that JPM is holding onto a ton of money from the MFGlobal saga, isn't really helping their image as the most honest and straight investment bank.
Mmm.. pretty sure JPM coughed up the MF money: http://www.bloomberg.com/news/2012-08-01/mf-global-customers-will-be-ma…
A aut et vitae inventore. Cupiditate ut est molestiae est. Id quam praesentium quis sed reiciendis.
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