James Koutoulas on JPM Boycott, MF Global Failure, ZIRP ... more.
Warren Pollock interviews James Koutoulas CEO of the Commodity Customer Coalition. Were it not for James, MF Global customers would have been totally overrun by an exparte bankruptcy process dominated by JP Morgan and the SIPC. This breaking interview covers important issues regarding JP Morgan's refusal to address concerns regarding its conduct as custodian of MF Global segregated house, their role in lowballing MF Global customers with a 40c offer on the dollar, with their fingers all over the bankruptcy, head of creditors committee, preferential purchases of LME stock, the ability to flip assets of MF Global without competitive bid. JMP even asked MF Global for a comfort letter to assure that funds were not sourced from customers, yet JPM still grabbed the 200 Million even without such assurance. JPM even fired James as a customer via a vindictive letter written midlevel executive. JPM does not think that 8000 customers under representation is not a credible force. We talk about having clean hands and unclean hands through a process where people do wrongdoing and then benefit from it. JPM has been stonewalling inquiries on the part of interested parties. MF global may be indicative of other situations in term of hypothecation and re-hypothecation. James thinks that ZIRP Zero Interest rate policy has encouraged the issuance of leverage via derivatives with no provision for loss. Its natural that a small percentage loss on a levered bet would result in customer funds ...
View Count: 2083 Date: December 30, 2011
stuzapusa December 31, 2011
Great interview and Excellent work.
rayme4raw December 31, 2011
Great interview:)
rayme4raw December 31, 2011
Great interview:)
tcorourke2007 December 31, 2011
Thanks for your hard work & keeping us informed.
cpswyl2 December 31, 2011
Good job James and Warren. All the best
jimbobubbadj December 31, 2011
I received $300 from JPMorgan Chase just for getting a credit card from them. I put about $300 on the card, paid it off. I don't plan on using it anymore.
socialteaparty December 31, 2011
@wepollock. I'm really enjoying these interview videos.
kileer7 December 31, 2011
@joel1923 lol I appreciate the clarification. I'm a bit disoriented at the moment lol
lynnybee888 December 31, 2011
yes, we do need an investigation ! & as long as we are 'investigating' , let's also investigate 9/11 demolition of the TWIN TOWERS & the colateral damage of the innocents. something tells me that these 'investigations' lead straight to the loot
joel1923 December 31, 2011
@kileer7 Hoping that the arrogant criminals meet a terrible end..
kileer7 December 31, 2011
@joel1923 I see, becoming a nemesis to someone others hubris?
joel1923 December 31, 2011
@kileer7 I was thinking along the lines of : hubris, meet nemesis.
kileer7 December 31, 2011
@joel1923 Avarice, sociopathy, and delusion are more apt in my opinion.
nmreich December 31, 2011
Warren is a truly forward-thinking guy and one of the best assets here on youtube for this genre of reality. Thank you Warren for all your time spent researching, interviewing and THINKING and most of all for sharing those thoughts with us FREE OF CHAR
wepollock December 31, 2011
@nobodymuch "boring" ok so turn on network TV watch Kim Kardasian and live with the future consequences.
joel1923 December 31, 2011
I never dreamed that my country when end up like this. I really didn't. I had faith in "America". No longer.
wepollock December 31, 2011
@nobodymuch feel free to get your entertainment elsewhere.
nobodymuch December 31, 2011
boring
Kanechi1000 December 31, 2011
jpm does not really care because they have connections to the global elite and just like during the depression they may become like a penny stock like goldman but the insiders will profit off the downside while everyone else loses. still they will be
joel1923 December 31, 2011
Arrogance and hubris. I think that sums up the current situation quite well.
EconomicsCafe December 30, 2011
So the clearing house doesn't wan to clear the trades, so they don't have the expectation of clearing a larger nominal amount in the future as things devolve. Don't worry, we have circuit breakers... lol. May you live in interesting times.... che
JanRichardus December 30, 2011
Loading up on physical silver
budb11 December 30, 2011
Looks like a bank run in reverse. Banksters taking runs at depositor funds and hiding behind legal barriers. Can you say corruption? Paper is dead; cash for a while and precious metals in the end are apparently the only havens for wealth preservation. We
JanRichardus December 30, 2011
Load up on physical silver (delivered to your home). Fuck JPM!
supermanhelloring December 30, 2011
Good work! I enjoy the truth...