Dec 02

Bank Chased Out

NY Post
A growing group of burned MF Global customers, ranging from hedge-fund traders to farmers, are calling for a boycott of JPMorgan Chase over fears that the bank is angling to get paid out first, before individual MF customers. At the same time, Koutoulas is angling to get JPMorgan dumped as the custodial bank for MF customer accounts. He plans to urge brokerage firms that took over MF accounts to ditch JPMorgan as their custodian and give the business to competing banks.