The New York Post reported this weekend that regulators have criminal and civil investigations underway into possible manipulation of the silver market by JPMorgan Chase.
The investigations stem from a story in The Post, which reported on a whistleblower questioning JPMorgan’s involvement in suppressing the price of silver by “shorting” the precious metal around the release of news announcements that should have sent the price upwards…
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice’s Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
I don’t see this story picked up in any of the major papers yet. Why not?
— ProPublica’s Paul Kiel reports that the Obama administration’s mortgage-relief plan—you know, the one that got Rick Santelli all riled up and started the Tea Party thing—is shooting blanks.
When the administration launched its foreclosure prevention program, it committed to spend up to $75 billion. By the end of March, more than a year later, only about $242 million had actually been paid out.
Can’t subsidize many “loser’s mortgages” with that paltry sum.
— The Shiny Shiny blog reports that magazines are having to censor their iPad/iPhone offerings to pass Steve Jobs’ “no-nipples” diktat.
Here’s what Anna Leach reports wags at fashion mag Dazed & Confused are calling it:
A D&C insider revealed that the mag’s iPad edition has been nicknamed the Iran edition by the people putting it together…
Again, here is what the press is submitting to in its scramble to gain access to Apple’s platforms:
Applications may be rejected if they contain content or materials of any kind (text, graphics, images, photographs, sounds, etc.) that in Apple’s reasonable judgement may be found objectionable, for example, materials that may be considered obscene, pornographic, or defamatory.”
(ADDING a h/t to Felix Salmon)
every time i read something about the possibilty of someone on wall street going to jail for breaking the law it reminds me of a skit on the classic Dave Chappelle show, when the cops treat white color criminals like drug dealers and drug dealers like white color criminals, so the stock brokers house is raided at two in the morning, the house is destroyed and the dog is accidentally killed, while the cops politely call the drug dealer and ask him to come by the station at his next available convenience to explain a few misunderstandings,
#1 Posted by ian, CJR on Tue 11 May 2010 at 08:43 PM