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JP Morgan fined by SEC for deleting email records

theregister.com

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Re: JP Morgan fined by SEC for deleting email records

#131

Post by Cpoll »

kris_lujanovic wrote: post #72

As someone who worked in finance I call b.s. When you need to do any infrastructure change not to mention data manipulation it takes million signatures and meetings. Like 13 meetings to deal with one ex employee corporate cloud folder. Unless they end up in court. Then somehow million things happen on their own in their benefit.

As someone who has done support for finance's IT departments, the "this was broken for years and no-one noticed" idea sounds bang-on. I've watched the millions of signatures and meetings, but none of that matters when someone screws up the implementation (but not badly enough that anyone cares to complain).

Re: JP Morgan fined by SEC for deleting email records

#132

Post by cornercasechase »

NickC25 wrote: post #48
boffinAudio wrote: post #22

Maybe Americans should be asking for the NSA's support in protecting the rights and freedoms of their country, and give Congress the backup they definitely made of all of JP Morgans data .. EDIT: its amazing - not a mention of the fact that JPMorgan is under investigation for its relationship with Epstein ..

For sure. This is bad faith 101 from JPMC, and I don't really think they'll care if they get a slap on the wrist. 4 million dollar fine IIRC. The government's agencies that have this data should release it to the American public as a public service. JMPC is no longer under investigation for Epstein - they paid a fine and that's that, sadly. Mr. Dimon doesn't want to testify again, because there's a high chance the Fe…

> JMPC is no longer under investigation for Epstein.

Yes they are, JPMC is still being sued by the Virgin Islands government. They have a settlement that still needs to be approved with the victims.

Re: JP Morgan fined by SEC for deleting email records

#133

Post by jon-wood »

andsoitis wrote: post #115
alexfromapex wrote: post #103

Earlier quoted context omitted.

There doesn't have to be a "network". This probably reached the highest executive levels and a few of them discussed it and said let's accidentally delete this and take the fine. You're incredibly naive if you think this wasn't intentional.

> highest executive levels and a few of them discussed it and said let's accidentally delete this So you think a few C-level execs went to 8,700 mail boxes and deleted 47 million messages to remove the EXACT evidence that was being subpoenaed?

I just don’t buy it. Even a C-level has limits, whatever was being investigated currently just has the possibility of some big fines and maybe losing their job. As soon as they start colluding to destroy evidence that turns into jail time.

Re: JP Morgan fined by SEC for deleting email records

#134

Post by andsoitis »

mandmandam wrote: post #112
andsoitis wrote: post #109

Earlier quoted context omitted.

> https://unlimitedhangout.com/2023/04/investigative-series/cr... Now there's a reliable source!

Well, since the number of mainstream outlets investigating Epstein's links to the mega-wealthy with appropriate depth is precisely zero , we need to adjust our standards a bit. If you can point out anything specific in there that's provably wrong, I'd genuinely love to hear it.

> If you can point out anything specific in there that's provably wrong, I'd genuinely love to hear it.

While there are many statements one can confirm, such as "took up boxing", they are surrounding nuggets like this: "After being selected by a mix of powerful businessmen, many of whom shared connections to intelligence and/or organized crime", a statement which is so vague as to be highly suspicious.

And don't even get me started on the author feeling the need to point out that all these organized crime and banking folks are Jewish - what's the relevance? Only to double down on stereotypes - the other people in the story aren't called out for their ancestry or religion...

Re: JP Morgan fined by SEC for deleting email records

#136

Post by idiot900 »

chollida1 wrote: post #83
danuker wrote: post #40

Earlier quoted context omitted.

The SEC is not in the justice business. It is a puppet of the banks themselves. A $4M fine is NOTHING for a company netting $12.62B a QUARTER.

> It is a puppet of the banks themselves. This is ofcourse false. But given how little effort you made on this comment i assume nothing will change your mind:( https://www.nytimes.com/2022/09/27/business/banks-fined-text... https://www.sec.gov/news/press-release/2022-174 https://www.sec.gov/news/press-release/2022-206

Who works in the SEC? Former bank/finance employees. Where will these employees go work if they decide to leave the SEC?

Re: JP Morgan fined by SEC for deleting email records

#138

Post by kindatrue »

giantg2 wrote: post #129
sensanaty wrote: post #46

If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.

I find the story or incorrect archive settings/setup to be reasonably plausible and even likely. I work in finance and misconfiguration of systems are not that uncommon. Testing and reviewing archive settings is often not very thorough. For example, I was working on a system that handles holdings and trading information at the fund level which covers AUM that starts with a T and ends in rillions. There was an SQL inj…

>I asked if they ever tested the backups... no.

THIS.

I briefly worked for a major European bank. There was a system that was backed up on tape. The way they checked the backups was to visually look at the tape spool - before sending the tapes off to a mountain to be preserved.

One day, they needed something from a back up. Sure enough, the tapes were simply blank due a bug in the back up script.

Re: JP Morgan fined by SEC for deleting email records

#139

Post by BowBun »

hinata08 wrote: post #89
sensanaty wrote: post #46

If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.

Why fines ? Fines for this type of accident should be the permanent removal of the banking license. What kind of company can you trust if evidence can be deleted "by accident" ?

JP Morgan is the very definition of 'too big to fail'. Any actions against them to that degree would be self-sabotaging by any country. I'm not saying it's a good thing, but that's the reality right now.

Re: JP Morgan fined by SEC for deleting email records

#140

Post by mandmandam »

andsoitis wrote: post #134
mandmandam wrote: post #112

Earlier quoted context omitted.

Well, since the number of mainstream outlets investigating Epstein's links to the mega-wealthy with appropriate depth is precisely zero , we need to adjust our standards a bit. If you can point out anything specific in there that's provably wrong, I'd genuinely love to hear it.

> If you can point out anything specific in there that's provably wrong, I'd genuinely love to hear it. While there are many statements one can confirm, such as "took up boxing", they are surrounding nuggets like this: "After being selected by a mix of powerful businessmen, many of whom shared connections to intelligence and/or organized crime", a statement which is so vague as to be highly suspicious. And don't even…

In the entire, very long article, there are only three references to Jewishness - twice saying that people had Jewish immigrant parents, and once in reference to the makeup of a particular mob which also references their Italian members, putting the lie to your claim that other ethnic backgrounds are not mentioned.

Making things out to be anti-semitic when they're not, such as happened to Corbyn, is a popular smear tactic. It's pretty disgusting though, and many Jewish people have pointed out that it's a very harmful and anti-semitic thing to do.

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