J.P. Morgan Triggers The Sell Off
J.P. Morgan Chase & Co.(NYSE: JPM) has being investigated by the Securities and Exchange Commission. The investigation involves a hedge fund manager that was able to hand select mortgage backed securities that he chose to sell short. This sounds very similar to the Goldman Sachs Group(NYSE: GS) investigation when hedge fund manager John Paulson did the same thing. J.P. Morgan Chase and Co. is selling off today by just 0.44 cents to $37.18. The stock has been very weak on the charts as of late. J.P. Morgan Chase & Co. has also recently been accused of manipulating the price of silver. This investigation is still on going and the CFTC is involved. Recently all of the major banks have admitted that they did use a robot for signing for most foreclosures in the United States without reading them thoroughly.
