The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
October 17, 2013

JPMorgan Chase Admits Reckless Action in London Whale Trades 
-------------------------------------------------------------


 
JPMorgan Chase has agreed to pay $100 million and admit its traders
acted "recklessly" during a series of damaging deals in London last
year. It is the latest in a series of fines over the so-called London
Whale trades that cost JPMorgan more than $6 billion and derailed
financial markets worldwide. The case marked the first use by the
Commodity Futures Trading Commission of a new rule enabled by the
Dodd-Frank Act that lowered the bar for proving companies manipulated
financial markets.

 

.