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Jamie Dimon

Dimon On Trading Loss: 'It's An Embarrassment, It's A Black Mark'

AP | PALLAVI GOGOI | Posted 07.21.2012 | Business

NEW YORK (AP) — JPMorgan Chase is suspending plans to buy back its own stock, a little over a week after the bank posted a large trading loss. ...

Does JPMorgan's Derivatives Fiasco Portend the Collapse of Crude Oil and Gasoline Prices?

Raymond J. Learsy | Posted 05.21.2012 | Business
Raymond J. Learsy

It is a grotesque symbol of how the Wall Street banks control our government. Mr. Dimon, sir, out of respect to our waning confidence in government institutions, your resignation from the Fed Board is well past due.

Jamie Dimon Should Resign From the Board Of The New York Fed

Simon Johnson | Posted 07.21.2012 | Business
Simon Johnson

To have Jamie Dimon involved in overseeing the management of the New York Fed, an organization that oversees his activities, decisions, and potential losses, is no longer acceptable. We do not accept such conflicts of interest in other parts of American society.

Pay No Attention to That Man Behind the Curtain

Phil Angelides | Posted 07.21.2012 | Business
Phil Angelides

Jamie Dimon was hailed as the wizard of Wall Street. Until the revelation of JPMorgan Chase's disastrous derivatives bet, he was the man who supposedly could do no wrong. But, alas, even wizards are not all powerful, not in Oz and not when trading in financial derivatives.

Krugman: Romney's JPMorgan Stance 'Completely Clueless'

The New York Times | Paul Krugman | Posted 05.21.2012 | Business

Sometimes it’s hard to explain why we need strong financial regulation — especially in an era saturated with pro-business, pro-market propaganda. ...

JPMorgan Chase: Break Up the Big Banks Now. Here's How.

Richard (RJ) Eskow | Posted 07.20.2012 | Business
Richard (RJ) Eskow

The JPMorgan Chase scandal -- and yes, it is a scandal -- shows us why we need to break up the big banks as quickly as possible.

Activists Visit Geithner's Home to Ask "Which Side Are You On?"

Peter Dreier | Posted 07.20.2012 | Politics
Peter Dreier

The protesters consider Geithner the key architect of Obama's economic recovery plan and the loudest voice within the president's inner circle for taking a "hands off" approach to tougher government rules to tame Wall Street's risky practices.

Both Sides Now: Spitzer-Matalin on Chase Chastened & Bain Targeted

HuffPost Radio | Posted 05.20.2012 | Politics
HuffPost Radio

2011-11-29-20111107bothsidesnow.jpgEliot & Mary debate how a bad bet in London -- shades of AIG! -- produced "told you sos" from those wanting a strong Volcker Rule. Is Regulation still evil? Then: the two debate opening partisan attacks on Bain and Debt.

Big Bank Time Bomb Ticking

Ted Kaufman | Posted 05.20.2012 | Politics
Ted Kaufman

What is so abundantly clear is that the lack of transparency in derivatives trading, and the sheer complexity that is a by-product of that lack of transparency, really can make them "financial weapons of mass destruction."

Why Are Our Political Leaders Jumping to Jamie Dimon's Defense?

David Paul | Posted 07.20.2012 | Politics
David Paul

It may be that what we are actually watching is a not very subtle food fight between our two political parties for campaign cash. Simply stated, this is not about Dimon's management skills, rather it is about his wallet.

Internal Discord And Clashing Egos Blamed In Giant JPMorgan Loss

www.nytimes.com | Posted 05.19.2012 | Business

Ever since JPMorgan Chase disclosed a multibillion-dollar trading loss this month, the central mystery has been how a bank known for its skill at risk...

What's Going To Haunt JPMorgan

Reuters | Posted 07.18.2012 | Business

* Change in risk model hid near doubling of risk * Disclosure of change came as losses announced * Seen becoming a possi...

This Is Our Best Chance to Fix Wall Street

Sen. Jeff Merkley | Posted 07.18.2012 | Politics
Sen. Jeff Merkley

Let's be clear: There's nothing wrong with high-risk trading, but if the bets go bad, only the people who made the bets should have to pay. This sort of gambling should happen in hedge funds, not in the federally-insured banks that families and small businesses depend on.

'Maybe Partying Will Help'

The Huffington Post | Michael Hogan | Posted 05.18.2012 | Entertainment

"Spotify the News" is a new HuffPost feature designed to translate the week's big headlines into a weekend-worthy playlist featuring classic hits, unf...

How JPMorgan Is Like Enron

Bloomberg View | Jonathan Weil | Posted 05.18.2012 | Business

Bloomberg View Put this one in the category of the famous quote often credited to Mark Twain: "History does not repeat itself, but it does rhyme." ...

70 Trillion Reasons JP Morgan Is Too Big

Ron Galloway | Posted 07.18.2012 | Business
Ron Galloway

According to the Office Of The Comptroller of the Currency (OCC) the value of the derivatives on the books at J.P Morgan is $70 trillion. That's nearly 5 times the size of our economy. That's more than the entire world economy. At one bank.

Geithner to Dimon: Resign From the Board of the New York Fed

Simon Johnson | Posted 07.17.2012 | Business
Simon Johnson

In the diplomatic language of Treasury communications, Mr. Geithner has just told Jamie Dimon to resign from the New York Fed board. It looks bad -- and it is bad -- to have him on the board of this key part of the Federal Reserve System at a time when his bank is under investigation with regard to its large trading losses and the apparent failure of its risk management system. If Mr. Dimon resigns, that is a major humiliation and recognition -- at the highest levels of government -- that even the country's best connected banker has overstepped his limits. If, as seems more likely, Mr. Dimon stays in place, that would be a great victory for the big banks -- and a reminder of who is really in charge of the country.

Tim Geithner On Dimon: Fed Banks Have 'Perception 'Problem'

Posted 05.17.2012 | Business

Timothy Geithner is worried about a problem of perception. In an interview with PBS Newshour, Geithner was asked whether or not it is a conflict of...

While JPMorgan Chase Loses Its Lunch, Some Janitors in Their Building Can Barely Pay for Theirs

Jose Suarez | Posted 07.17.2012 | Miami
Jose Suarez

While Jamie Dimon was preparing an explanation to his shareholders, the janitors that clean the financial offices owned by JPMorgan Chase in downtown Miami were wondering if they could just get paid what they are owed.

A Quick Word on JP Morgan's "Hedge Gone Wrong" -- Was It a Euro Election Bet?

Terry Connelly | Posted 07.17.2012 | Business
Terry Connelly

The timing of JP Morgan's trading moves leads to the obvious question -- whether the London-based traders who happened to run the desk at Morgan London were making a bet on the outcomes of the French and Greek elections themselves.

The Daily Szep -- Jamie Dimon in His Wall Street Office Looking for Dodd-Frank

Paul Szep | Posted 07.17.2012 | Business
Paul Szep

...

Obama Can't Knock the Hustle

Robert Scheer | Posted 07.17.2012 | Politics
Robert Scheer

Even after it was known that Jamie Dimon's bank blew more than $2 billion on the same suspect derivatives trading that has bankrupted the world's economy, Barack Obama still had praise for the intellect of his political backer and the integrity of the bank he heads.

Wall Street, Romney, and Obama

Mike Lux | Posted 07.16.2012 | Politics
Mike Lux

Bain Capital was Wall Street at its worst. But the Obama team, in the White House and in the campaign, in order to win on the Bain attack, needs to face -- and turn around -- the perception that the administration has been weak on Wall Street.

Is JPMorgan's Loss a Canary in a Coal Mine?

Bill Moyers | Posted 07.16.2012 | Business
Bill Moyers

"The fact that JPMorgan Chase lost so much money in a relatively benign moment compared to what we've seen in the past and what we're likely to see in the future suggests that we are absolutely on the path towards another financial crisis of the same order of magnitude as the last one."

On Financial Genius and Banking Boo-boos

Robert Teitelman | Posted 07.16.2012 | Business
Robert Teitelman

The columns, blogs, tweets and sober cud-chewing over the J.P. Morgan Chase & Co. trading debacle continues. What have we learned? Well, not as much as you'd think, given the notion that the Internet is the greatest investigative reporter since Woodward and Bernstein.