| JPMorgan has announced that it plans to exit the physical commodities businesses, while remaining committed to its historic roots in commodity financing and risk management, and to the precious metals business. Is this Jamie Dimon recognizing an unstoppable paradigm shift now taking place in the financial sector as policymakers finally find the political will to reign in the power of too big to fail banks?
This announcement comes in the wake of market manipulation accusations by the Federal Energy Regulatory Commission against Wall Street commodity dealers, including Barclays, which was ordered to pay a $487.9 million fine, and JPMorgan, where a $500 million settlement is rumored. Barclays denies wrong-doing and said it would fight the penalties...............................................Full Article: Source
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