Should an announcement of a full formal probe of manipulation by JPM follow, it would be tantamount to a confirmation of what numerous individuals have been claiming over the years, that JP Morgan, the LBMA, the CFTC, various banks, and even that kindly old grandpa who was so much against derivatives except when he was about to lose money as a result of regulation that he is spending the whole weekend telling his investors in Omaha to run, not walk, to Borsheim’s, and buy all their massively overpriced trinkets (you can’t be a quadrillionaire without first being a trillionaire), are nothing but a borderline criminal cabal that traffics in wealth extraction courtesy of a few monopolist players.
Has DOJ finally gotten a spine? There are now multiple serious investigations going on, some of them hinting at criminal indictments. This of course runs directly counter to the “We Love Banksters” theme of the Obama Administration so expect a Saturday Night Massacre soon. Of course, firing the investigators didn’t help Nixon at all in the long time, now did it?
And yes, that kindly old grandpa is just another snake.