JPM CIO prop trader with $100B position in CDX
http://online.wsj.com/article/SB10001424052702303… http://www.bloomberg.com/news/2012-04-05/JPMorgan-trader-iksil-s-heft-is-said-to-distort-credit-indexes.html
http://www.ft.com/intl/cms/s/0/4977a324-7ffb-11e1-b4a8-00144feab49a.html#axzz1rNvItW8e (To access the FT article, google "Funds hit by JPMorgan’s CDX moves")
FTAccording to company filings, the CIO and treasury together managed an investment securities portfolio last year that averaged $331bn. Although it draws much less attention than the company’s investment bank it had the same maximum daily value at risk of $80m last year, according to the company.
i thought they are dispanding the cio/prop desk
dimon basically told the fed to fuck itself after upstaging its "stress" "test" announcement 3 days in advance.
sorry you sheep, the global financial mafia is owned and operated by a few chosen families and you are all just the help.
Better to be the help than a serf.
the serfs forked over 10% to their manorial lords. the help pay over well over 35% to the "public" treasury. and we're not even getting into what happens to the "money" that isn't consumed or taxed immediately. but that's too much truth for one day.
Overreaction. He's right.
JPM disbanded the EM, structured credit, and equity prop desks (and moved them into the asset management business): http://www.bloomberg.com/news/2012-03-05/jpmorgan-trader-mike-stewart-t…
According to WSJ, the CIO unit is "focused on managing the long-term structural assets and liabilities of the firm and is not focused on short-term profits." The bank added, "Our CIO activities hedge structural risks and invest to bring the company's asset and liabilities into better alignment."
They're just calling it "hedging" instead of "prop trading".
http://soberlook.com/2012/04/london-whale-is-likely-hedging.html
The global financial mafia is the federal government. And when it no longer suits our interests for the rich to keep getting richer, we impose a 90% tax on all incomes above $5 million and frigging keep it there for the next 25 years, just like we did in 1934
happypants is like the prostitute who thinks he isn't a prostitute because he likes getting fucked.
HAhahahahhaha burn
mother of all dispersion trades
Another Bloomberg article which details the activities of the CIO group:
http://www.bloomberg.com/news/2012-04-09/jpmorgan-trader-iksil-fuels-pr…-trading-debate-with-bets.html
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