Feds launch civil and criminal investigations of JPMorgan

1000 oz silver bullion bar

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.

Gosh, it’s looking more and more like our fabled investment banks are just a bunch of thieves and criminals.

I’m waiting for the Obama Administration to try to kill some of these investigations, given they never met a bankster they didn’t like. Am I too cynical? I think not. But it’s good to see federal investigations happening everywhere now.

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