Not who is FBRC... Who is running FBRC. President and CEO of FBRC is a man named Richard Hendrix. Mr. Hendrix was forrmerly the Managing Director of a company called PNC Capital markets. So, lets look at who he used to work with at PNC:
1. Richard J Johnson - currently the Chief Financial Officer for PNC, but previously, Johnson was president and chief executive officer of JP Morgan Services in Delaware, a subsidiary of JP Morgan. Johnson held a number of management positions at JP Morgan, including European chief financial officer in London and global business markets chief financial officer in New York City.
2. William S. Demchak - currently is senior vice chairman and head of Corporate & Institutional Banking for The PNC, but previously, he served as the global head of Structured Finance and Credit Portfolio for JP Morgan Chase. Demchak also held key leadership roles at JP Morgan prior to its merger with the Chase Manhattan Corporation in 2000. He was actively involved in developing JP Morgan's strategic agenda, and was a member of the company's capital and credit risk committees.
Seems to be a lot of connections between FBRC, PNC and JPMC and may provide some explination for the appearant manipulation.
I'm not going to post links to support my DD, however, the info is available through FBRC and PNC websites, if you wish to verify.
GLTA,
Byrd
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