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US Customs just seized a ship owned by JPMorgan after authorities found $1 billion worth of drugs
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| gina heeb
Posted on 07/09/2019 4:04:48 PM PDT by bitt
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To: bitt
Guess the company’s summer picnic is cancelled.
21
posted on
07/09/2019 5:08:49 PM PDT
by
N. Theknow
(Kennedys-Can't drive, can't ski, can't fly, can't skipper a boat-But they know what's best for you.)
To: faithhopecharity
Don’t be stupid. JPM is the company that owns the asset and then leases it to a third party. Just like when you lease a car. The asset is owned by someone other than you and they make money on the financing and then by reselling the asset when you’re done using it. Most companies don’t keep depreciable assets on their books.
To: HonorInPa
23
posted on
07/09/2019 5:37:38 PM PDT
by
faithhopecharity
( “Politicians are not born; they are excreted.” Marcus Tullius Cicero (106 to 43 BCE))
To: bitt
1 billion, huh? The streets are going to shake and choke for lack of coke. Look for reports of crabby elites and Hollywood celbs as well!
I would also look into how connected the bank might have been with this event. The bank is going to take a loss if the feds try to “asset forfeiture” that ship.
To: faithhopecharity
Please know I wasn’t calling you stupid. The liberal media write distorted headlines like that so people will fall for them.
To: HonorInPa
26
posted on
07/09/2019 6:00:52 PM PDT
by
faithhopecharity
( “Politicians are not born; they are excreted.” Marcus Tullius Cicero (106 to 43 BCE))
To: HonorInPa
For whatever it may be worth, my little comment was meant to be funny. Sorry it didn’t come across that way.
27
posted on
07/09/2019 6:02:36 PM PDT
by
faithhopecharity
( “Politicians are not born; they are excreted.” Marcus Tullius Cicero (106 to 43 BCE))
To: bitt
How do you think they got sooooooo rich?
28
posted on
07/09/2019 6:15:14 PM PDT
by
Trumpnado2016
(Welcome to Trump World.)
To: bitt
Put JPM into Federal Receivership and cancel all debts due to them.
Allow them to plead out with a $500 million donation to Project Veritas.
Hey, that’s how Omoeba did things...
29
posted on
07/09/2019 8:37:34 PM PDT
by
grey_whiskers
(The opinions are solely those of the author and are subject to change with out notice.)
To: Alberta's Child
JP Morgan owned the ship. They didn’t run the drug operation. Seizing their total assets is like seizing all of Enterprise’s assets because someone was transporting drugs in one of their rental cars.
So, you seize just the ship carrying the large amount of drugs. After a while, it's too much trouble to keep getting your ships back and the owner's gonna start taking proactive measures to prevent their ships from being used to smuggle cocaine.
To: Svartalfiar
JP Morgan leased the ship to MSC.
This isn't a problem for JP Morgan. It's a problem for MSC. They are legally obligated to make lease payments to JP Morgan for a ship that is indefinitely unavailable for them to use in the shipping business.
31
posted on
07/10/2019 6:48:16 AM PDT
by
Alberta's Child
("Knowledge makes a man unfit to be a slave." -- Frederick Douglass)
To: Alberta's Child
JP Morgan leased the ship to MSC.
This isn't a problem for JP Morgan. It's a problem for MSC. They are legally obligated to make lease payments to JP Morgan for a ship that is indefinitely unavailable for them to use in the shipping business.
Ah right, good call. Either way, someone's responsible for the ship, and apparently needs better oversight of operations if they managed to sneak near 40M pounds of drugs onboard. That's not just a box or two hidden in a conex.. That's several conex worth!
To: bitt
Damn, someone is going to be pissed off!!!
33
posted on
07/10/2019 9:40:24 AM PDT
by
Springman
(Rest In Peace YaYa123, Bahbah, and Just Lori.)
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