270 Park Avenue - JP Morgan Chase World Headquarters

Description

JPMorgan Doesn’t Want to Talk About Bernie Madoff
http://www.newsweek.com/jpmorgan-doesnt-want-talk-about-bernie-madoff-225067

"JPMorgan was the principal bank Madoff used in his fraud. On the day of his arrest in December 2008, he claimed to be the world’s biggest money manager, handling $64.8 billion of other people’s money, half as much as JPMorgan itself and almost as much as Goldman Sachs and George Soros combined."

FBI Gets Involved
http://www.forbes.com/sites/halahtouryalai/2012/05/15/more-bad-news-for-jpm-as-fbi-gets-involved/

"The Justice Department is investigating JPMorgan Chase over its now infamous $2 billion trading loss. The news comes just hours after Dimon and his fellow executives met in Tampa, Fla. for an annual shareholder meeting. The FBI investigation is in its preliminary stage and authorities are looking into the incident because the size of the loss and the bank involved, according to Reuters."

Feds Probing JPMorgan Trades in Silver Pit
http://www.nypost.com/p/news/business/feds_probing_jpmorgan_trades_in_gZzMvWBqOJpB55M7Rh9vwM

"Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market. 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. The probes are far-ranging, with federal officials looking into JPMorgan's precious metals trades on the London Bullion Market Association's (LBMA) exchange, which is a physical delivery market, and the New York Mercantile Exchange (Nymex) for future paper derivative trades."

Class Action against Morgan, HSBC specifies Silver Manipulation
http://news.silverseek.com/SilverSeek/1293546686.php

"The lawsuit complains: "Before the Class Period began, JPMorgan had become the custodian and an authorized participant of the largest known concentration of silver bars, the iShares Silver ETF, which holds in excess of 340 million troy ounces of silver, a sum that equals an estimated 1/3 of the total present global supply of silver bullion. As a result, it had actual knowledge of the precise whereabouts of much of the world's known silver bar supply. "With respect to Defendants' conduct on the CME/COMEX platforms, JPMorgan and HSBC's scheme has been corroborated by Andrew Maguire, a 40-year precious metals trading veteran. Mr. Maguire reported his findings to the Commodity Futures Trading Commission (CFTC), which commenced an investigation in 2008. "On October 26, 2010, CFTC Commissioner Bart Chilton stated that there had been 'violations of the Commodity Exchange Act in the silver market' and 'fraudulent efforts to persuade and deviously control' silver prices, and that these efforts 'should be prosecuted.'"'

Chase Credit Card Probe
http://www.americanbanker.com/issues/177_49/chase-credit-cards-collections-occ-probe-linda-almonte-1047437-1.html?zkPrintable=1&nopagination=1
http://www.rollingstone.com/politics/blogs/taibblog/j-p-morgan-chases-ugly-family-secrets-revealed-20120313

"Nearly half of the files [Linda's] team sampled were missing proofs of judgment or other essential information, she wrote to colleagues. Even more worrisome, she alleged in her wrongful-termination suit, nearly a quarter of the files misstated how much the borrower owed. In the "vast majority" of those instances, the actual debt was "lower that what Chase was representing," her suit stated."

JPMorgan Chase Sued For $95 Million Over Allegedly Misrepresenting Mortgage Loans
http://www.huffingtonpost.com/2012/01/03/jpmorgan-lawsuit_n_1181211.html

"JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans. US Bank NA wants to force JPMorgan to buy back the mortgage loans because of alleged breaches of representations and warranties regarding the Bear Stearns Asset Backed Securities Trust 2005-4, for which it serves as trustee. It also said JPMorgan has refused to provide the underlying loan, as the trust documents require, so it can investigate the extent of the alleged breaches.

JPMorgan Arranging Alabama Swaps Provided Payoffs, SEC Shows
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aMVX5q9SgWJ8

Unprecedented Fraud
http://www.reuters.com/article/2011/12/22/us-foreclosures-idUSTRE7BL0MC20111222

"The Justice Department doesn't disclose pending investigations, making it impossible to say if other criminal inquiries are underway. Officials in state attorneys' general offices and lawyers in foreclosure cases say they have seen no signs of any other federal criminal investigation.

"I think it's difficult to find a fraud of this size on the U.S. court system in U.S. history," said Raymond Brescia, a visiting professor at Yale Law School who has written articles analyzing the role of courts in the financial crisis. "I can't think of one where you have literally tens of thousands of fraudulent documents filed in tens of thousands of cases."

Spokesmen for the five largest servicers - Bank of America Corp., Wells Fargo & Co., JP Morgan Chase & Co, Citigroup Inc., and Ally Financial Group - declined to comment about the possibility of widespread fraud for this article."


http://en.wikipedia.org/wiki/One_Chase_Manhattan_Plaza

"The Chase Manhattan Bank president of that time, David Rockefeller, the current patriarch of the Rockefeller family, was the prime mover of the construction and the building's location, notably because many corporations had moved uptown, and the Financial District had languished as a result. One Chase Manhattan Plaza is currently occupied by the successor to the "Rockefeller Bank", JPMorgan Chase & Co.

Originally, its major tenants included the white shoe firms Milbank, Tweed, Hadley & McCloy (then the bank's main outside counsel), Davis Polk & Wardwell and Cravath, Swaine & Moore. Davis Polk and Cravath moved to midtown in the eighties, but Milbank remains."

Milbank Tweed
http://en.wikipedia.org/wiki/Milbank,_Tweed,_Hadley_%26_McCloy

John J. McCloy was originally a partner at Cravath, Swaine & Moore in New York, and joined what is today Milbank in 1946, after serving as Assistant Secretary of War from 1941-1945 under President Franklin Delano Roosevelt. He left the firm in 1947 to serve as president of the World Bank, and was appointed by President Harry S. Truman as High Commissioner of Germany in 1949. In 1952, he returned to the private sector and served as chair of the Chase National Bank, which under his leadership became the Chase Manhattan Bank in 1955. During this period, he also served as chair of the Ford Foundation. He returned to Milbank in 1961, but was almost immediately appointed by President John F. Kennedy as his Special Assistant on Disarmament. McCloy also served as a member of the Warren Commission following the assassination of President Kennedy. He thereafter returned to Milbank, which was renamed Milbank, Tweed, Hadley & McCloy, and remained a general partner for 27 years, until he passed away in 1989.

At Milbank, McCloy acted for the "Seven Sisters" (the leading multinational oil companies, including Exxon), in their initial confrontations with the nationalisation movement in Libya - as well as negotiations with Saudi Arabia and OPEC. Because of his stature in the legal world and his long association with the Rockefellers, and as a seven-time presidential adviser, he is sometimes referred to as the "Chairman of the American Establishment".[3]