JP Morgan

Feds Go After JP Morgan Chase for Silver Market Manipulation

The New York Post is reporting:

Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.

The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.

Temporary Stay of Execution - A month halt on foreclosures

hat tip to Calculated Risk:

Another "evolving plan". I think they will discover that there is no easy method for successful loan modifications (as FDIC Chairwoman Sheila Bair discovered when they took over IndyMac). I guess the plan is to buy down loans with the $50 billion - or pay a portion of the monthly payment.


JPMorgan Chase and Citigroup Inc. announced plans Friday to temporarily halt foreclosures as the government works to finalize the details of a financial rescue package that could include billions of dollars in aid for struggling homeowners.

Bear in mind this is just two banks and it is only a month. On top of things, there is no real plan in place to help those about to be foreclosed upon, never mind the ones who already were.