Tuesday, June 1, 2010

HOT: Curious Trading by Federal Reserve Advisor May Result in JPMorgan Chase $1.264 Billion Windfall

There is some mighty curious trading going on in Maiden Lane LLC, the entity set up by the Federal Reserve to buy some of Bear Stearns' assets. The Federal Reserve hasn't released enough information to be able to determine the exact details of the trading, but from the information that is available, it appears that trades are being made for the benefit of JPMorgan Chase.

There are big questions, such as why is a portfolio, that is supposed to be wound down, showing a double digit turnover of its portfolio?

In an EPJ exclusive, Bob English does a forensic analysis of the public information surrounding Maiden Lane and it doesn't come out smelling roses. The analysis is here.

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