ALEX BRUMMER: JP Morgan's Dimon joins the hall of shame
12 years, 10 months ago

ALEX BRUMMER: JP Morgan's Dimon joins the hall of shame

Daily Mail  

ALEX BRUMMER: JP Morgan's Dimon joins the hall of shame Imagine if, in the present hostile climate for banks, any other institution but JP Morgan Chase dropped $2bn of shareholders’ money because of ‘sloppiness’ and ‘bad judgement’ on their watch. Troubled times: JP Morgan's record over the Great Panic is far from untarnished Putting to one side the fact that its London office invented the toxic securities at the heart of the banking implosion, JP Morgan also played a critical role in bringing down Bear Stearns, Lehman Brothers and MF Global. If the authorities had any sense, instead of arguing about the right level of capital and liquidity required to meet Basel III banking rules, they would be going directly to the source of casino banking and ban the creation of useless securities that are of no benefit to the economy at all except to the extent they allow casino bankers to fleece clients and shareholders. Europe generally chose to bury its banking problems and since the end of last year many banks have only been saved from the knacker’s yard by the long term refinancing offered by the European Central Bank.

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History of this topic

JPMorgan boss Jamie Dimon hints he might pursue a political career
1 year, 9 months ago

JPMorgan boss Jamie Dimon hints he might pursue a political career

Daily Mail  

Embattled JPMorgan Chase boss Jamie Dimon has hinted at a potential run for office, and has already gained the support of at least one fellow Wall Street boss. But Dimon's message comes as he faces two separate civil lawsuits alleging that JPMorgan executives allowed and benefitted from Jeffrey Epstein's child sex trafficking. Dimon is currently facing two separate civil lawsuits …

JPMorgan just got a lot bigger — and Elizabeth Warren is alarmed
1 year, 10 months ago

JPMorgan just got a lot bigger — and Elizabeth Warren is alarmed

CNN  

Washington, DC CNN — JPMorgan Chase has once again come to the rescue of the banking system by acquiring a doomed bank. By blessing JPMorgan’s takeover of First Republic Bank, Warren fears federal regulators just made the” Too Big to Fail” problem even worse. “What happened here is because a bank was under-regulated and started to fail, the federal government …

’Banking crisis not over,’ JPMorgan CEO on possibility of ’2008’ like recession
1 year, 11 months ago

’Banking crisis not over,’ JPMorgan CEO on possibility of ’2008’ like recession

Live Mint  

In a recent letter to shareholders, JPMorgan Chase & Co CEO Jamie Dimon expressed his concerns about the ongoing U.S. banking crisis and its potential long-term effects. "The current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come," Dimon wrote Storm clouds are still threatening the economy …

JPMorgan’s Jamie Dimon is fed up with you ‘lazy’ investors voting against him
9 years, 10 months ago

JPMorgan’s Jamie Dimon is fed up with you ‘lazy’ investors voting against him

LA Times  

Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co.: If you vote against him, you must be bad at your job. “God knows how any of you can place your vote based on ISS or Glass Lewis,” Dimon said petulantly at a conference What may have irked Dimon the most is that the results of the shareholder voting reflected …

JPMorgan’s $13 billion deal hits stumbling blocks: sources
11 years, 5 months ago

JPMorgan’s $13 billion deal hits stumbling blocks: sources

Live Mint  

JPMorgan Chase and Co. and the US Justice Department have hit snags in working out the final details of their $13 billion settlement over the bank’s mortgage bonds, two people familiar with the talks said. The bank and the government are arguing over whether JPMorgan should be forced to pay for mistakes made by Washington Mutual, the failed mortgage lender …

Moon Shot From JPMorgan's Dimon Is Day's Money Quote
12 years, 9 months ago

Moon Shot From JPMorgan's Dimon Is Day's Money Quote

NPR  

Moon Shot From JPMorgan's Dimon Is Day's Money Quote Enlarge this image toggle caption Chip Somodevilla/Getty Images Chip Somodevilla/Getty Images The top news from Capitol Hill testimony today by JPMorgan Chase CEO Jamie Dimon is that he says "the bank did its best to fully inform investors about its risk strategy several weeks before it suffered a $2 billion-plus trading …

JPMorgan Knew Of Risks, 'WSJ' Reports
12 years, 9 months ago

JPMorgan Knew Of Risks, 'WSJ' Reports

NPR  

JPMorgan Knew Of Risks, 'WSJ' Reports "Some top JPMorgan Chase executives and directors were alerted to risky practices by a team of London-based traders two years before that group's botched bets cost the bank more than $2 billion," The Wall Street Journal is reporting. And it adds that "last year, top CIO executives set a plan to roll back a …

JPMorgan Chase trader Bruno Michel Iksil 'thought to be behind $2bn loss'
12 years, 10 months ago

JPMorgan Chase trader Bruno Michel Iksil 'thought to be behind $2bn loss'

Daily Mail  

Boss of Voldermort trader who lost $2bn at JP Morgan earns $14m a year as credit agencies give bank bleak outlook Ina Drew oversaw JP Morgan office where huge losses were made French-born, British-based Bruno Michel Iksil believed to be responsible Dubbed the 'London Whale', be bragged 'he could walk on water' Believed to be part of Chief Investment Office …

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