JPMorgan got fooled by the ‘nickel’ rocks that it bought

Make Me Smart

Marketplace

News, Business

4.6 • 5.4K Ratings

🗓️ 25 March 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Oops! How did nearly $2 million worth of nickel owned by JPMorgan Chase turn out to be just bags of rocks? We’ll give you the TL;DR on commodity trading and tell JPMorgan’s tale of woe. And, the House passed a piece of GOP-backed legislation that’s in line with many conservative politicians’ push to limit what can be taught and read in schools. While the bill won’t make it through a Democratic Senate, it could still be used as a political tool. Plus, a round of Half Full/Half Empty with a surprise guest host!

Here’s everything we talked about today:

- “JPMorgan’s Mystery ‘Nickel’ Rocks: The Hunt for Clues Begins With a Kick” from Bloomberg

- “JPMorgan Had Some Fake Nickel” from Bloomberg

- “Parents Bill of Rights: 5 things to know about the House GOP’s legislation” from The Hill

- “House passes the GOP’s Parents Bill of Rights measure opposed by Biden” from NBC News

- “Twitter claims ‘legacy’ blue checkmarks will start to disappear on April Fools’ Day” The Verge

- Moderna will charge around $130 for its COVID vaccine — and Congress i s n’t too happy

- “Subway’s Footlong Pass is back as more restaurants test subscriptions” from Axios

- “These New Yorkers Hate the New ‘We ❤️ NYC’ Logo” from The New York Times

- “WGA Would Allow Artificial Intelligence in Scriptwriting, as Long as Writers Maintain Credit” from Variety

- “Our Film Critic on Why He’s Done With the Movies” from The Daily

We can’t do this without you! Please keep sending us your comments and questions by calling 508-U-B-SMART or emailing [email protected].

Transcript

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0:00.0	May I ask when's the last time you took an economics class?
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0:52.5	All right, well, you know, if Charles is driving, you know, we don't actually start till.
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0:59.6	Whatever, whatever, whatever.
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1:10.0	Hey, everybody, I'm Kyle Ruez.
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1:12.6	Where we make today makes sense.
1:13.8	It is Friday the 24th of March.
	...

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