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Volcker Rule

How JPMorgan Got Around The Volcker Rule

Reuters | Posted 08.11.2012 | Business

By David Cay Johnston June 11 (Reuters) - JPMorgan Chase & Co blames its $2 billion, and maybe much larger, tradin...

Mark Gongloff

Wall Street Couldn't Care Less About JPMorgan's Loss | Mark Gongloff | Posted 06.11.2012 | Business

It's official: Absolutely nobody on Wall Street cares about JPMorgan Chase losing $30 billion. That is the clear message of an exhaustively reporte...

Dream Team of Bank Regulators Is Forgetting an Important Player

Sanjay Sanghoee | Posted 08.11.2012 | Business
Sanjay Sanghoee

Just recently, Washington announced the creation of a "dream team" of financial regulators, called the Systemic Risk Council. Great idea, but here's a question: Why was the current chairwoman of the SEC, Mary Schapiro, not included?

Fed Official: Volcker Rule Could Have Staved Off JPMorgan Loss

Reuters | Posted 08.06.2012 | Business

* Fed's Tarullo: Volcker will shed light on hedging trades * JPMorgan trading losses tied to failed hedging strategy * O...

JPMorgan Strategy Shift May Have Led To Huge Loss

AP | MARCY GORDON | Posted 08.05.2012 | Business

WASHINGTON (AP) — JPMorgan Chase had weak controls in place to contain risk in its investment division that suffered a $2 billion-plus trading loss,...

Double Standards at Work

Preeti Vissa | Posted 08.04.2012 | Business
Preeti Vissa

So sure, let's have a strong Volcker Rule. But how about a second rule -- call it a Common Sense Rule: Banks big enough to tank the world's economy should be held to standards at least as strict as the standards struggling homeowners have to meet.

Too Complex To Regulate: JPMorgan's Losses Highlight Need For Simplicity

Peter S. Goodman | Posted 07.27.2012 | Business
Peter S. Goodman

You can parse the stories about how the bank's risk-management people loaded up on risk, or digest the accounts of how JPMorgan's financial wizards engineered mind-bendingly complex means of limiting their vulnerability to troubles in Europe. But the simplest answer is the most pertinent: It's extraordinarily complicated.

Barney Frank Takes Strong Position On JP Morgan Fiasco

Posted 05.28.2012 | Politics

Rep. Barney Frank (D-Mass.) says that JPMorgan Chase's $2 billion loss earlier this month reaffirms the argument for regulating Wall Street. In an ...

Regulator Seeks Advice On Watering Down Volcker Rule

Reuters | Posted 07.25.2012 | Business

* US CFTC to examine hedging, market-making exemptions * Rule received new scrutiny since JPMorgan trading loss * Sheila...

Wall Street Reform: Taking a Knife to a Gunfight

Sanjay Sanghoee | Posted 07.24.2012 | Business
Sanjay Sanghoee

If Congress is truly serious about banking reform, it needs more than just well-intentioned laws: it also needs the right people to enforce those laws, it needs to give those people the resources they require to do their job properly, and it needs to pay them decently.

JPMorgan, the Volcker Rule, and the Extreme Brevity of Financial Memory

Arianna Huffington | Posted 07.24.2012 | Business
Arianna Huffington

Financial crises are a lot like childbirth -- they both involve a lot of pain and end up costing you a lot of money. But, after a while, you forget about all the negatives and are ready to do it again.

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. ...

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.

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."

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.

Banking Sector Puts Its Money On Mitt Romney | Posted 05.18.2012 | Politics

When Jamie Dimon of JPMorgan Chase met with shareholders to answer for a trading loss of more than $2 billion Tuesday, it was against an evolving poli...

Greece Should Not Influence the U.S. Markets: the U.S. Should

Georges Ugeux | Posted 07.16.2012 | Business
Georges Ugeux

Greece is a convenient excuse. Let's correct our own weaknesses, starting from public indebtedness, rather than pointing the finger towards Europe.

What Will a Greek Default Mean for You?

Jeffrey Rubin | Posted 07.16.2012 | Business
Jeffrey Rubin

A Greek default would start in Athens, but it wouldn't be long before it's felt in Paris, Berlin, New York and Toronto. In today's intertwined financial markets, everyone has exposure to everyone else's problems.

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%."

Hunter Stuart

WATCH: The Jamie-Dimon-Hates-Regulation Mashup | Hunter Stuart | Posted 12.13.2012 | Business

As one of the only banks that remained profitable during the financial crisis of 2008, JPMorgan was considered by many to be the sturdiest bank in the...

D.M. Levine

Jamie Dimon Defends Lobbying, Fends Off Critics At Shareholders Meeting | D.M. Levine | Posted 05.15.2012 | Business

At the annual JPMorgan Chase shareholders meeting on Tuesday morning in Tampa, Fla., CEO Jamie Dimon offered what amounted to a spirited defense of th...

Geithner: JPMorgan Loss 'Helps Make Case' For Regulation

AP | ANDREW TAYLOR | Posted 05.15.2012 | Business

WASHINGTON -- Treasury Secretary Tim Geithner said Tuesday that the recent $2 billion trading loss by JPMorgan "helps make the case" for tougher rules...

How JPMorgan's Loss Will Affect Four Key Parts Of Financial Reform

AP | DANIEL WAGNER | Posted 07.15.2012 | Business

WASHINGTON — The $2 billion trading loss at JPMorgan Chase has renewed calls for stricter oversight of Wall Street banks. Two years after Congre...

Regulators Forgive JPMorgan Trade

The Huffington Post | Mark Gongloff | Posted 05.15.2012 | Business

Thing One: Regulators Inaction: Feckless U.S. financial-markets regulators are a lot like the referees in professional wrestling: They're only there f...

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?