Trunkneck’s Blog

If Wikileaks sent this to me I know it must be important, therefore in the spirit of fair play I give to you a press release as of yesterday right from my email client. Call it a retraction….of sorts, but please do not confuse this with a back peddle on the whole subject. There are still many questions that go unanswered about the under handed dealings this bank perpetrates on an almost daily basis. This is more to do with an individual that work with the bank, “a Media Mogul” as opposed to the bank itself. I ask you dear reader, as always, to read on and judge for yourself.

Wikileaks Press Release
Sat Apr  5 20:39:15 BST 2008

Media Mogul Barry Diller, has issued a statement to Wikileaks in
relation to allegations, not made by Wikileaks, but appearing on
as part of a source comment on a confidential JP Morgan document,
that Mr. Diller insured himself against IAC’s share price tumble.

“The suggestion that Barry Diller entered into any hedging transactions
is incorrect. Mr. Diller did not directly or indirectly hedge or
otherwise insure his shares against a decline.

The allegations were submitted with a previously unreleased
confidential JP Morgan Private Bank insider hedging services sales
document which used IAC as a stock hedging example–without naming
Mr. Diller.  Wikileaks contacted JP Morgan Private Bank and we
believe the document is valid.

Given the strong on the record denial by Mr. Diller, Wikileaks
believes it likely that the source drew an inference that exceeded
the support provided by the JP Morgan Private Bank document, and
that the allegations against Diller are unfounded.

Wikileaks article did not consider Mr. Diller or the IAC.  but
rather another aspect of the material, the SEC 10b5-1 insider trading
loophole which is being exploited by firms like JP Morgan Private
Bank on the behalf of wealthy clients.

However, Wikileaks did republish a follow up article from the New
York based Gawker.com which explored, although did not affirm, the
Diller-IAC allegation.

For a good read in case you missed this from March 17th.

http://wikileaks.org/wiki/Whistleblower_exposes_insider_trading_program_at_JP_Morgan

Tags: WIKILEAKS