Bloomberg headlines indicate JPM will be probed over its actions involving MF Global.
JPM's stock is plunging on the news, down 2.3% to $31.30.
*JPMorgan Actions as MF Lender Called Likely to Be Probed
*Certain actions likely to be subject to investigation
A JPM probe is likely to go something like this...
Carl Levin/ Turbo Timmy/ CFTC former Goldman Sachs goon/former CME goon: Hey Jamie- did you get enough?
Jamie: Well, we got enough gold and silver to make it through December- February's still looking like it might be an issue though.
Levin/ Timmy/ Genz/ Shapiro: We might be able to get you the phyzz from Jefferies' clients, might be hard though....they're all cashing in and buying at APMEX.
Jamie: I was thinking more like Germany's vaults. They obviously don't need it.
Levin/Timmy/ Genz/ Shapiro: Um, Jamie, we already discussed this. We already lent you guys Germany's stuff back in the 90's.
Jamie: Well, get me Brink's stuff then. I'm telling ya, I wouldn't wanna be you if we can't make it through February.
Levin/Timmy/Genz/Shapiro: Ok, we'll see what we can do. Oh, and we're supposed to talk to you about the rehypothecated MFG client funds...we'll need a statement from you by the morning that you had no knowledge of any of that.
Jamie: Will do. See you at the club at 9?
