Inside JP Morgan's $1 Billion Market Manipulation Scam

In this video we examine JP Morgan's precious metals market manipulation scheme which lasted from 2008 all the way through 2016. The scandal sent multiple senior JP Morgan employees so jail they eventually had to pay a record settlement of $920 million.

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[viceroy]

To stop this activity the companies caught should have to A.) forfeit all profits made from the illegal activity. B) Pay a fine on top of the forfeiture. and c.) Face jail time for the illegal activity. This would put and end to most of the nonsense.

[-Chooka]

A company paying a fine for this sort of thing is just the government getting a cut of the action. The only penalty that means anything is jail time for the perp and their supervisor/boss.

[aggerleejones]

$1 billion is not that much for JP Morgan they made about 36 billion in 2019 and it really doesn’t matter what they do because if they fuck up the tax payer will have to bail them out.

[TheMmiguelito]

If they paid a billion in FINES, just IMAGINE how much they actually made🤔🤔🤔

[careeruse]

JP Morgan: You're a market manipulation ! *runs off crying*
U.S. Government: Morgan-san !! Wait !! I have more tax dollar bentos !! *quickly follows*

[chazzbear]

If the punishment is a fine, then the law is only for poor people

[Billydevito]

The damage caused by JPM’s criminals is incalculable.
The fact that JPM CEO’s are not in prison, and that JPM still has a banking license is just as criminal as the MASSIVE thefts perpetrated by JPM.
TO RICH TO JAIL !

[johnguillett]

Lol a billion dollars is probably less than what they make in a week, really showed them.

[Typing.._]

Morgan’s response: dang accounting software went haywire 🤐 🤫

[msijo]

While they were engaging in all this illicit behaviour, they used to make all employees take compulsory courses on reporting fraud, ethical behaviour etc. What hypocrisy & irony.
:Ex Employee

[ristonalaimo]

Anyone who knows what the definition of "bag holders" is will agree that justice was not served.

[aj]

Talk about the greatest manipulation that they did - the silver futures market

[jonathanwoo]

if these investment banks and hedges invested based on fundamentals like they tell the rest of us their returns wouldn't be acceptable, lol.

[surlyboomergaming]

Well the solution is simple -- if they can't trade by the rules, don't let them trade. That would straighten them up rather quickly. Ofc the problem then becomes the havoc in the markets if they cant :( Another solution I like is a multiplier for fines, and fines for the CEO for each "case". So the first time, they do anything wrong, its a fine...not negotiated!! Second time the base for the fine doubles, and the CEO gets a fine. The next time the previous fine doubles, and so on. Then, all of these seemingly "small" cases will add up and become painful,

[tedpert]

Fines are not enough jail time will cure the problem!

[SuperEH]

They are manipulating the market and getting slaps on the wrist? Are you telling me that no one received jail time? I'm sure that other traders lost money due to their market manipulation tactics. They seriously need to step up and regulate these companies more.

[albertfernandez]

I have a job Interview for JP Morgan this week

[shindersamra]

Cheaters should lose every dime, make them pay for fraud.

[VioletPrism]

Great channel keep it up :) would love to see some interviews someday

[CommodoreFloopjack]

As long as Big Business has the politicians in its collective pocket, nothing is going to change.