As reported in the FT (subscription site), HSBC have been removed from the lawsuit.
JPM are still under investigation.
How the hell have HSBC wriggled out of this?
I read somewhere this morning that HSBC may have agreed to testify against JPM to avoid being named in the suit. As much as I would love to think that the bankers are turning on each other to save their own asses, I highly doubt it. My guess is another under the table payoff and very soon JPM will receive their wrist slap and penalty payment and the whole case is dropped again. As for the average Joe, "sorry, nothing to see here, move along please".
The whole system is rampant with corruption, justice may never return to this country. Just look at the poor slob at UBS today that they are parading around. "Rouge Trader"! The bank knew nothing. Such Bullshit!
When the dollar fails and the fiat scheme completely falls apart this filth will be getting out of the way by force believe you me. Thanks for nothing CFTC.
From Harvey Organs blog, he reports HSBC has a tolling agreement with plaintiffs attorneys. This just means they are at a temporary standstill until some point in the future. This can mean they are negotiating, settlement discussions, or whether they want to continue with the lawsuit.
In the comments section, Harvey stated it is his opinion that HSBC will testify against The Morgue, and one of his attorney friends well versed in these matters thinks that as well. One can only hope.