pana Loc: are we there yet?

Ordinarily we would ignore the news of another banker's death - after all these sad events happen all the time - if it wasn't for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan - a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM's Global Program Trading desk, founded in 1999 by an ex-DE Shaw'er, a function of the firm which is instrumental to preserving JPM's impeccable and (so far in 2013) flawless trading record of zero trading losses.

There was little detail surrounding the death:


Ryan Henry Crane of Stamford died Monday, Feb. 3. He was 37.



Crane was born Jan. 8, 1977, and grew up in Long Valley, N.J. He graduated from The Delbarton School in Morristown in 1995. He graduated from Harvard University in 1999, after which he spent the next 14 years at J.P. Morgan in New York. He was an executive director in the Global Equities Group.



Crane is survived by his wife, Lauren (nee Pizzotti); son, Harry; parents Mary Jo and Lex of Long Valley, N.J.; brother, Lex of Denver, Colo.; sister, Allison; brother-in-law, John Archard of Arvada, Colo.; parents-in-law, Steve and Carol Pizzotti of Reading, Mass.; brothers- and sisters-in-law, David and Heather Pizzotti of Upper Arlington, Ohio, Stephen and Kristin Pizzotti and Chris and Felicia Pizzotti of Reading, Mass.; five nephews, three nieces; aunts, uncles; and cousins.



Calling hours are Sunday, Feb. 9 from 3 to 7 p.m. at the Leo P. Gallagher Funeral Home, 31 Arch St., Greenwich. A Mass of Christian Burial will be held at 11 a.m. Monday, Feb. 10 at St. Catherine of Siena Church, Riverside. Interment will be held at 1 p.m. Tuesday, Feb. 11 at Puritan Lawn Memorial Park in Peabody, Mass.

Crane's LinkedIn profile confirming his senior position at one of JPM's most important market-facing verticals:





Below is his Finra BrokerCheck profile. Aside from having a license to trade virtually anything and anywhere as someone with his sk**lset would be expected to, his history was spotless:




What is most notable is that not only is Crane the second very young JPMorgan banker to pass in recent days, but is also the fourth banker death in under a month. We can only hope this disturbing chain of deaths within the financial industry - one of which involved a nail-gun induced suicide - is purely accidental.
http://www.zerohedge.com/news/2014-02-12/another-jpmorgan-banker-dies-37-year-old-executive-director-program-trading

lpnmajor Loc: Arkansas

I suspect that the victims were believed to be potential whistle blowers. The skeletons are beginning to fall out of the closet, despite the Gov. trying desperately to help keep them in.

pana Loc: are we there yet?

I think you are right.
After the last lame attempt by saying the guy shot himself 7-8 times in the head and torso with a nail gun they didn't even offer a story this time.
Im waiting for the one where the guy repeatedly shot himself in the back of the head and the gun was not found at the scene suicide.
Maybe these guys will wise up and have a manifesto waiting to be sent if they meet an untimely death.

lpnmajor Loc: Arkansas

I bet they will now. I heard a rumor that the IMF has sent agents to investigate certain "reports", concerning JP's involvement in Euro trades at 50% below value.

pana Loc: are we there yet?

Unfortunately nothing will happen.
"Highlights From A Decade of Illegal Conduct by JP Morgan Chase

•United States v. JPMorgan Case Bank, NA, No-1:14-cr-7 (S.D.N.Y. Jan 8, 2014) ($1.7 billion criminal penalty); In re JPMorgan Chase Bank, N.A., OCC Admin. Proceeding No. AA-EC-13-109 (Jan. 7, 2014) ($350 million civil penalty); In re JPMorgan Chase Bank, N.A., Dept. of the Treasury Financial Crimes Enforcement Network Admin. Proceeding No. 2014-1 (Jan. 7, 2014) ($461 million civil penalty) (all for violations of law arising from the bank’s role in connection with Bernie Madoff’s Ponzi scheme, the largest in the history of the U.S.);
•In re JPMorgan Chase Bank, N.A., CFTC Admin. Proceeding No. 14-01 (Oct. 16, 2013) ($100 million civil penalty); In re JPMorgan Chase & Co., SEC Admin. Proceeding No. 3-15507 (Sept. 19, 2013) ($200 million civil penalty); In re JPMorgan Chase & Co., Federal Reserve Board Admin. Proceeding No. 13-031-CMP-HC (Sept. 18, 2013) ($200 million civil penalty); UK Financial Conduct Authority, Final Notice to JP Morgan Chase Bank, N.A. (Sept. 18, 2013) (£137.6 million ($221 million) penalty); In re JPMorgan Chase Bank, N.A., OCC Admin. Proceeding No. AA-EC-2013-75, #2013-140 (Sept. 17, 2013) ($300 million civil penalty) (all for violations of federal law in connection with the proprietary trading losses sustained by JP Morgan Chase in connection with the high risk derivatives bet referred to as the “London Whale”);
•In re JPMorgan Chase Bank, N.A., CFPB Admin. Proceeding No. 2013-CFPB-0007 (Sept. 19, 2013) ($20 million civil penalty and $309 million refund to customers); In re JPMorgan Chase Bank, N.A., OCC Admin. Proceeding No. AA-EC-2013-46 (Sept. 18, 2013) ($60 million civil penalty) (both for violations in connection with JP Morgan Chase’s billing practices and fraudulent sale of so-called Identity Protection Products to customers);
•In Re Make-Whole Payments and Related Bidding Strategies, FERC Admin. Proceeding Nos. IN11-8-000, IN13-5-000 (July 30, 2013) (civil penalty of $285 million and disgorgement of $125 million for energy market manipulation);
•SEC v. J.P. Morgan Sec. LLC, No. 12-cv-1862 (D.D.C. Jan. 7, 2013) ($301 million in civil penalties and disgorgement for improper conduct related to offerings of mortgage-backed securities);
•In re JPMorgan Chase Bank, N.A., CFTC Admin. Proceeding No. 12-37 (Sept. 27, 2012) ($600,000 civil penalty for violations of the Commodities Exchange Act relating to trading in excess of position limits);
•In re JPMorgan Chase Bank, N.A., CFTC Admin. Proceeding No. 12-17 (Apr. 4, 2012) ($20 million civil penalty for the unlawful handling of customer segregated funds relating to the bankruptcy of Lehman Brothers Holdings, Inc.);
•United States v. Bank of America, No. 12-cv-00361 (D.D.C. 2012) (for foreclosure and mortgage-loan servicing abuses during the Financial Crisis, with JP Morgan Chase paying $5.3 billion in monetary and consumer relief);
•In re JPMorgan Chase & Co., Federal Reserve Board Admin. Proceeding No. 12-009-CMP-HC (Feb. 9, 2012) ($275 million in monetary relief for unsafe and unsound practices in residential mortgage loan servicing and foreclosure processing);
•SEC v. J.P. Morgan Sec. LLC, No. 11-cv-03877 (D.N.J. July 7, 2011) ($51.2 million in civil penalties and disgorgement); In re JPMorgan Chase & Co., Federal Reserve Board Admin. Proceeding No. 11-081-WA/RB-HC (July 6, 2011) (compliance plan and corrective action requirements); In re JPMorgan Chase Bank, N.A., OCC Admin. Proceeding No. AA-EC-11-63 (July 6, 2011) ($22 million civil penalty) (all for anticompetitive practices in connection with municipal securities t***sactions);
•SEC v. J.P. Morgan Sec., LLC, No. 11-cv-4206 (S.D.N.Y. June 21, 2011) ($153.6 million in civil penalties and disgorgement for violations of the securities laws relating to misleading investors in connection with synthetic collateralized debt obligations);
•In re JPMorgan Chase Bank, N.A., OCC Admin. Proceeding No. AA-EC-11-15, #2011-050 (Apr. 13, 2011) (consent order mandating compliance plan and other corrective action resulting from unsafe and unsound mortgage servicing practices);
•In re J.P. Morgan Sec. Inc., SEC Admin. Proceeding No. 3-13673 (Nov. 4, 2009) ($25 million civil penalty for violations of the securities laws relating to the Jefferson County derivatives trading and bribery scandal);
•In re JP Morgan Chase & Co, Attorney General of the State of NY Investor Protection Bureau, Assurance of Discontinuance Pursuant to Exec. Law §63(15) (June 2, 2009) ($25 million civil penalty for misrepresenting risks associated with auction rate securities);
•In re JPMorgan Chase & Co., SEC Admin. Proceeding No. 3-13000 (Mar. 27, 2008) ($1.3 million civil disgorgement for violations of the securities laws relating to JPM’s role as asset-backed indenture trustee to certain special purpose vehicles);
•In re J.P. Morgan Sec. Inc., SEC Admin. Proceeding No. 3-11828 (Feb. 14, 2005) ($2.1 million in civil fines and penalties for violations of Securities Act record-keeping requirements); and
•SEC v. J.P. Morgan Securities Inc., 03-cv-2939 (WHP) (S.D.N.Y. Apr. 28, 2003) ($50 million in civil penalties and disgorgements as part of a global settlement for research analyst conflict of interests).
Did we mention that nobody from JPM has gone to prison, and instead as of late last week, one of the biggest JPM culprits was set to become a member of the CFTC's advisory panel before the people and not the regulators, were forced to step in? Why? #AskJPM"