On Thursday (Feb11, 2016), the CEO of JPMorgan Chase, Jamie Dimon, bought 500,000 shares of his bank for $26.6 million as the stock price was down 16 percent for the year. On Friday, the stock surged 8 percent, providing the CEO with a hefty profit. Dimon’s salary for the year is $27 million. Some analysts pretend that this move was to reassure investors that were anxious about oil prices and the big problems at the Deutsche Bank in Germany.
More and more conspiracy groups believe that the rash of so called banker suicides in recent years began with an incident back in 2012, that involved “The London Whale” Bruno Iksil. Iksil was working for JPMorgan in the London offices at the time. He made a bet in the derivatives market that went south really quicly.
It was first reported that the loss on that trade was $2 billion but “V”, the guerilla economist, later reported that the loss was $100 billion. To cover their loss, executives at JPMorgan Chase stole money from other accounts and even sold their head office in New York City for $720 million (The building is worth $3 billion) to the Chinese. The collateral used for the bad trade was gold that was owed to the Chinese. The Libor scandal and Forex frand are also part of the reason why so many bankers are being “suicided”.
The bankers that knew too much were simply “eliminated”, so that the theft and fraudulent and criminal activities of JPMorgan Chase executives could not be traced back to them. Hopefully one day, a whistle blower will shed light on all of this. It would be about time that crooked bankers got a taste of their own medicine and answer for their crimes in a court room.