Executives resigning at JP Morgan.

The bank - the biggest in the United States by assets - is expected to accept the resignation of Ina Drew, its New York-based chief investment officer and one of its highest-paid executives, in the next few days, the sources said. Two of Drew's subordinates who were involved with the trades, London-based Achilles Macris and Javier Martin-Artajo, are expected to be asked to leave, they said.

I don't think being asked or even offering a resignation is enough after being involved in these types of high level criminal activity. Furthermore, more than likely they will just be recycled as an adviser into another firm, or end up in a low key governmental position.

On Sunday, Dimon's bravado was badly burnished when the New York Times reported remarks he made recently at a dinner party in Dallas. Dimon called arguments about too-big-to-fail banks - arguments made by former Federal Reserve chief Paul Volcker and Richard Fisher, president of the Federal Reserve Bank of Dallas - "infantile" and "nonfactual," according to the Times.

Well isn't that just rich. Nonfactual huh? So the too big to fail taking taxpayer money isn't based on facts? Reuters

reply to post by GD21D


I wonder when big business will fail from not having adequate replacements to run their companies. Although after seeing one of the business fraternities at the local private college and their remarks, it might not be to far off.

I'm sure nothing will come of this, the economically fit always survive.

curious that one of the signs of any potential forthcoming "problems" is top level executives resigning/leaving work.

i'm sure 2012 has nothing to do with it, but curious just the same.

This is just another Enron. Move on...

to quote

Speaking on NBC's Meet the Press on Sunday, Mr Dimon said: "We made a terrible, egregious mistake. There's almost no excuse for it."

ALMOST no excuse

I wonder if they get severance packages ?

I can think of one or two. And they ain't financial either.

Perhaps those Muslims have it right.

They use the "severance" penalty in a different way

Originally posted by xuenchen
I wonder if they get severance packages ?

I can think of one or two. And they ain't financial either.

Perhaps those Muslims have it right.

They use the "severance" penalty in a different way

These types of parasites are simply not allowed in Muslim countries,
And we call them uncivilized.
Yeah whatever.

I highly doubt anyone is resigning for fear of discipline or any other reason.

These guys all know their positions are relatively short term:
1 - Get in
2 - Make as much money as possible by any means necessary
3 - Get out before things collapse

Easy as that.

When I first learn about that yesterday, I thought this must has some relationship with NWO. Then I red JP Morgan was very averse to risk and didn't lose as much as the others during the crisis.
So, how come this very easy to avoid mistake now ???

The answer I think was what I heard after, saying the misconduct has reinstated the discussion about more regulations. I realize this event may be use to support establishing a much more strong and centralized Government who also controls the finance and banks. This isn't a problem for the bank owners who already determine the government decisions.

JPM, the folks that invented the CDO. Looks like it finally bit them also.

During the recovery after the 2008 stock market crash the regulators allowed the banks to use any tactic you could think of to reflate the stock indexes. Pretty simple strategy used here, Ms Drew just had her London proxy make hedge trades, then moved the market with the JP Morgan billions to make those trades profitable. Many banks have been doing this and it is easy to trace the trades back to their sources.

The only reason it didn't work this time was that the WSJ and a couple other financial papers printed stories targeting her "London Whale" proxy. The market regulators needed a big loss like this by a major bank as an excuse to create tighter market regulation so the regulators probably helped set Drew up. JP Morgan investors lost 15 billion, Ina Drew will likely retire with her millions laughing all the way to her private Caribbean island somewhere.

People at that level don't feel guilt. They were working a gambling strategy for the bank and they busted. Happens all the time, only the little people have to pay back gambling losses.

Ina Drew has been trying to resign since the April 5th whale stories came out but the JP Morgan officials are probably playing the "sober cannibal" role. They waited till last Thursday and could have shorted their own stock in advance of the announcement. I wonder if there will be any follow through later in the week?

Yesterday I saw this video on Fox News showing the strong ties between Wall Street and Obama. I hope this can wake people up.

www.youtube.com...