JPMorgan Agrees to Sell Commodities Unit for $3.5 Billion
The “Owl Coinland…” turned us onto this story today with a couple of his comments.
Bloomberg recapped the sale which is to a group called Mercuria Energy Group Ltd. which was started in 2004 by former Goldman Sachs (GS) Group Inc. traders Marco Dunand and Daniel Jaeggi. The company has grown at an astronomical pace over the past few years – “From 2011 to 2013, Mercuria hired 570 people, including executives from investment banks such as Goldman Sachs and Barclays Plc. That boosted the staff to 1,200 from about 10 in 2004.” – and is now the 4th largest independent commodity trader.
Click here for the full article.
Big Owl and Out? That is DEFINITELY copyright infringement!
If I had to state an opinion I would say it is a case of selling ones horse before it dies. JPM might not be everyones favorite bank but I think they can read the writing on the wall.
they are just passing it to the Swiss company……..as Irish posted…another goldman saks xbanking cartel………The game is not over by a long shot………..
only the names change…………..just like the FED…….same game for over 100 years. the dollar is going to zero…………..
I don’t know man, it is really getting to be a three ring circus isn’t it!
ditto………….
Jerry…..Since the birth of the “BEAST” in 1913….the dollars purchasing power has gone to near zero…….now they are desperate to keep it alive with ..mouth to mouth…aka…QE to BANK
In all seriousness, I am looking at the article…..and they are the 4th largest and boost the staff to 1200………….if the market is so bad in commodities….what goes……..
Someone knows something…………..
Same as it ever was:
One thing the American government has not done is to prosecute the largest banks in the world for supporting the drug cartels by washing billions of dollars of their blood stained money. As Narco sphere journalist Bill Conroy has observed banks are ”where the money is” in the global drug war.
HSBC, Western Union, Bank of America, JP Morgan Chase&Co, Citigroup, Wachovia amongst many others have allegedly failed to comply with American anti-money laundering (AML) laws.
http://www.globalresearch.ca/money-laundering-and-the-drug-trade-the-role-of-the-banks/5334205
Matt…………I think you are correct……….
The drug money between Mexico and Chicago is big………..the money is going back to Mexico…..and the banks had to hire 1200 new washing machine attendants at the border……..and the border guards are helping rinse………
Matt……..Good grief, man , don’t you know…its not cricket to prosecute the banks…you cant prosecute the people who are running the country……..Why if you put them in jail…(were they belong)…Who is going to be driving the TITANIC.
playing second fiddle………………
or the man with the golden harp
thanks for the acknowledgement. Cory…….I was not sure Al was awake, now , I can see who is doing all the work…
………BIG OWL..AND OUT……………