JP Morgan y alguna vez people actually are present
maybe well they've at least that criminal charges against them
a hobby or Martin are tosh.o in Julian crown there in the London office
now I remember JP morgan lost 6.2 billion dollars
in very risky derivative trading the guy responsible
everybody told us was the London whale the London whale is Bruno
XO he is not going to be charged now there's two reasons for that
Bruno XO number one immediately cooperate with the prosecution said
it was those two guys now one guy is below him
a1 guys above him hobby or Martin art Ojo was actually above launder well
in terms of the hierarchy JP Morgan in London so never want to prosecute
immediately cooperate with prosecutors number two he had saved
emails where he wrote to them I don't know about these financial transactions
I'm not sure they are a good idea
it he's a lot actually doing a tree
right but he wrote those emails let me give the prizes I told them and I i
would do those traits
except you the one who did it but anyway bhutto's of
a scot-free he's Acharya prosecuted now the person is in charge which
a whole Investment Office is I drew of course not prosecuted free to go
the person in charge the company is Jamie diamond of course
not charged free to go now Jamie time is the CEO he keeps telling us
these mammoth banks don't worry
they're not taking a lot a risk it's actually good for the economy
I got this thing on lockdown I ever figure out when I know
I could manage this giant bank I know everything that's going on
also you knew that he was not only taking the rest but that aside
but manipulating the books it which is illegal
you know that of me dollar I don't know that I don't try to let you know
I don't know anything that's going on at this pic when I thought you said you on
top of it area of course every time as I can be charged
so armed what are the charges here they have
conspiracy falsifying books and records a wire fraud and making false filings
with the SEC
what they would do is incentive reporting the middle value of the
derivative which is what they were supposed to do by law
they would report a value that was nowhere near accurate
you know what what what I mean could be any value I happen to record that one
but nonetheless because relatives are not as clear as a stock market
for your defender prices and they've got an army of lawyers
you never know doesn't mean they're definitely go to jail but at least
the justice department has done I'll little bit against the banks here
in prosecuting some other traders including
01 decent size executive now
finally let me quote the New York Times
they say yet it is unclear when authorities will seek to arrest the man
mister Martin art are joe is a way from London on vacation
mister route left London this year for France which typically does not
extradite its citizens as I read that
I thought about was snowed when we really want to get someone
we know how to get them right not that we gots known
but we gotta international manhunt forward you
2.0 I'm calling them wash up President Obama
cancel the bilateral summit because it was you wouldn't immediately extra nice
note
France who apparently is not big on extradition
when it was snowing that they thought was playing over there airspace
in there Plano the president a Bolivian said no no no
I'll give you the president of Bolivia you know what a flyover
I over our airspace cuz you might have their
really dangerous Edward snowden know what's a blower on your play
man when we want to go get somebody we tell
France we tell England in Great Britain retail
everybody here you go get that guy these guys oh well we don't know where they
are
we're not really trying to arrest them yet me we'll get to that in a good time
the guys on vacation what can we do
could you magid if they said
oh and we're stone he's on vacation I
we'll see if we're gonna rest or not after he's done with his vacation she I
wonder what we prioritize
so even though this is good news that they have actually gone after some
bankers
keepin' mind perspective over what they actually care about
and how hard they're gonna go after these guys
disaster might be not that hard