"As a result, we questioned the integrity of those trader marks".
"We questioned the integrity of those trader marks," Douglas Braunstein, then the bank's chief financial officer, said at the time.
At the end of the first quarter of 2012, as the issue of the size of the losses was being scrutinized, the valuation control group in the bank's chief investment office determined that the prices of the securities were usually on the high side, but that "the trader marks were acceptable".
The appointment of David Weir, a Rangers player for five years, as the assistant manager provides the set-up with a historic connection to the club but Warburton's background as something of a statistician and a former London city stock trader marks him out as a member of football's new coaching generation – something Rangers hope to draw on and project across the whole club.
Boring, stolid, small and safe Icelandic saga The twilight zone Reprints Related items Politics and the recession: Bigger, wider, deeperNov 13th 2008The message for the City, where traders marked down the pound to a close of $1.50, was clear.
DealBook » UBS Fined $47.6 Billion in Rogue Trading Scandal | Britain's Financial Services Authority fined UBS £29.7 million for failing to prevent a $2.3 billion loss caused by a former trader, Mark Scott reported.
So a rule was written that forced traders to mark their positions to market and pay taxes on unrealized gains.
In August, the criminal authorities charged two of the JPMorgan traders at the center of the case — Javier Martin-Artajo, a bank manager who oversaw the trading strategy, and Julien Grout, a low-level trader who marked the books.
Silk Alley traders could mark up their prices because their market had become such a magnet for what a local-government website sweepingly called "high nosed, yellow haired foreigners".Now, ironically, it is the traders who claim they are being cheated and their brand name violated.
In one case, the government says the traders even marked a position in the CDX.
More alarmingly, JP Morgan also admitted that it was "no longer confident" that traders had marked their credit default swap positions to market "in good faith".
