iOS app Android app

Jp Morgan Chase

Some Institutions Are Too Big to Succeed

Harlan Green | Posted 07.24.2012 | Business
Harlan Green

Whether out of ignorance or not understanding the ramifications of such high risk derivative hedges, CEOs such as JP Morgan Chase's Jamie Dimond apparently have little control over the trades such as caused the $2 billion loss.

Why Obama Should Be Attacking Casino Capitalism -- Both Romney's Bain and JPMorgan

Robert Reich | Posted 07.22.2012 | Politics
Robert Reich

Bain Capital and JPMorgan are parts of the same problem -- a particular kind of capitalism that uses other peoples' money to make big bets which, if they go wrong, can wreak havoc on the economy. The president should be leading the charge against both.

D.M. Levine

"Outgunned" | D.M. Levine | Posted 05.22.2012 | Business

Two of the most important financial regulators in the country have a message for Congress: We need more money. At a hearing before the Senate Bank...

Why Is Romney So Casual About the JPMorgan Chase $3 Billion Loss?

Marvin Meadors | Posted 07.21.2012 | Politics
Marvin Meadors

Why place our bets on Romney when his election may open the door to a return of the days of excessive risk taking and taxpayer funded bailouts? Why spin the wheel again arguing that this time Wall Street will bet correctly?

Jamie Dimon Complains More, As JPMorgan Chase Losses Eclipse $30 Billion

Mark Gongloff | Posted 07.21.2012 | Business
Mark Gongloff

Champion American complainer Jamie Dimon complained on Monday about Wall Street regulation, while also insisting he not be described as a complainer. ...

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.

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.

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.

What Makes You Madder: JPMorgan's Recklessness or the Fed's Cluelessness?

Jane White | Posted 07.16.2012 | Business
Jane White

We not only need to rein the banks in but we've got to delegate the responsibility for measuring household wealth -- and hopefully come up with ways to boost it -- to an agency that's more in touch with "the 99%."

Obama Has Signficant Assets In JPMorgan Account

Reuters | Posted 07.15.2012 | Politics

WASHINGTON, May 15 (Reuters) - U.S. President Barack Obama has $500,001 to $1 million in a JPMorgan Chase private client asset management checking a...

Mark Gongloff

Jamie Dimon, JPMorgan CEO, Safe For Now Despite Trading Loss, FBI Probe | Mark Gongloff | Posted 05.16.2012 | Business

So just how much trouble is Jamie Dimon really in? And what would it take for him to actually lose his job? You'd need an industrial-grade spatula ...

Jamie Dimon's "Tempest In A Tea Pot"

Charles Gasparino | Posted 07.15.2012 | Business
Charles Gasparino

There's got to be bigger scandals out there that cost bank customers real money, and actually lead to real losses that could put a company's survival in jeopardy. The JP Morgan trading loss is neither and not by a long shot.

The Daily Szep -- A Wall St. Banker

Paul Szep | Posted 07.15.2012 | Comedy
Paul Szep


Banks Push For Trading Loophole, Would Allow For More Whale Fails

The Huffington Post | Mark Gongloff | Posted 05.15.2012 | Business

U.S. banks might act worried about how JPMorgan Chase's trading pratfall will lead to tighter regulations on their own risky bets, but they've already...

Will JPMorgan's Loss Provide a Win for Wall Street Reform?

Barbara Roper | Posted 07.14.2012 | Business
Barbara Roper

While regulation comes with a significant price tag, those costs pale beside the losses that banks can incur when left to their own devices. Will regulators take the hint that the cost-benefit fight is one they can win?

D.M. Levine

Derivatives Cassandra On JPMorgan: Told You So | D.M. Levine | Posted 05.15.2012 | Business

To Brooksley Born, JPMorgan Chase's trading blowup looks a lot like the Long-Term Capital Management debacle of 14 years ago. It's "happening all o...

Jason Linkins

Life Inside The Jamie Dimon Bubble | Jason Linkins | Posted 05.14.2012 | Politics

We are apparently reaching the stage in the JPMorgan $2 billion fail-scapade when the patsies are identified and shamed. JPMorgan co-CIO Ina Drew has ...

Regression to the Mean, JPMorgan Edition

James Kwak | Posted 07.14.2012 | Business
James Kwak

The performance of anyone doing anything will exhibit regression to the mean. If you do well at something, it's because of some combination of skill and luck. If JPMorgan came through the financial crisis well, it was some combination of skill and luck.

Dimon's NY Fed Tenure Should End Now

Peter S. Goodman | Posted 07.14.2012 | Business
Peter S. Goodman

Not for the first time, Elizabeth Warren has spoken a simple truth, one that ought to be heeded: Jamie Dimon must surrender his seat on the board of the Federal Reserve Bank of New York.

JPMorgan Chase Actually Lost $20 Billion On Its Bad Trade

The Huffington Post | Mark Gongloff | Posted 05.14.2012 | Business

By now you may have heard that JPMorgan Chase lost $2 billion on a bad trade. Multiply that by 10, and you're starting to get a better idea of how muc...

Too Big to Care

Leslie Hendry | Posted 07.14.2012 | Money
Leslie Hendry

No one wants to repeat another bailout, and politically speaking, it's hard to imagine one getting passed again within the next fifty years. But when financial leaders allow huge bets to be placed on unnatural, or synthetic securities, they simply haven't learned the lessons of the past crisis.

Dimon Agonistes

The Huffington Post | Mark Gongloff | Posted 05.14.2012 | Business

Thing One: Dimon Agonistes: Whom the gods would destroy, they first make mad. Or bankers. Or both. JPMorgan Chase and its CEO Jamie Dimon are incr...

Paul Krugman: This Is Why We Regulate Wall Street

The New York Times | Paul Krugman | Posted 05.14.2012 | Business

One of the characters in the classic 1939 film “Stagecoach” is a banker named Gatewood who lectures his captive audience on the evils of big gover...

Thoughts on the Big JP Loss

Jared Bernstein | Posted 07.12.2012 | Business
Jared Bernstein

Financial markets are inherently unstable. They will neither self-correct nor self-regulate. Their instability poses a threat to markets and economies and people across the globe.