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What to expect from JPMorgan's shareholder meeting tomorrow
May 14, 2012
JPMorgan Chase CEO Jamie Dimon faces shareholders tomorrow after the announcement of a $2 billion loss. He'll most likely get to keep his 2011 pay package, but expect changes in leadership elsewhere in the company.
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The Art of Rubbing It In
For JP Morgan, pride goeth before the $2 billion trading fall - and schadenfreude from rivals comes after:A huge portion of Wall Street's banking model is built around the idea of, 'I'm going to bet against my clients.'...and I see that and say, These are my clients! It's my job to make sure my client makes money, and know that I'll be rewarded for it.That quote comes from Ed Clark, CEO of Toronto-Dominion Bank, or TD Bank, who revels in the description "old-fashioned banker." He gave an interview to Bloomberg TV's Erik Schatzker in a piece on the risk-management superiority of our Canuck neighbors. This kind of thing falls under the rubric of what CNN's Lizzie O'Leary sassily identified last week as "Dimonfreude." But it has perhaps a bit less impact when you count the Canadian government's "liquidity support" to their banks - $114 billion at the peak - as a plain old bailout.
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JP Morgan's Loss: The Explainer
May 11, 2012
How did JP Morgan lose $2 billion on a single bet? Here's some plain English to help understand it.
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Hubris, Thy Name is Dimon
May 11, 2012
The well-regarded JP Morgan Chase CEO has been talking big talk about how well the bank managed its risk. But this week, we saw he didn't walk the walk.
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Survey: Americans are stressed out
Apr 13, 2012
Consumer Reports polled 1,000 U.S. households and found that more Americans are feeling stressed today than at any time since September 2009.
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Why Are Households Still Nervous About Municipal Bonds?
Mar 30, 2012
U.S. households hold half of all municipal bonds issued by cities and states in the U.S. But over the course of the past year, those investors have been backing away. Why?
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The Birth (and Death) of the Moral Age of Wall Street
Mar 27, 2012
Marcy Murninghan's unpublished late 1990s interview with former Goldman Sachs chairman John Whitehead illuminates how he tried to bring a moral sense to banking.
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Citigroup: Who Are You Calling A Failure?
Mar 14, 2012
Citigroup put up a blog post today disputing that the bank had "failed" the Federal Reserve's stress tests.
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The Devil Wears Pinstripes
Mar 14, 2012
A New York Times op-ed by a former Goldman Sachs executive director illuminates the long, slow slide of Wall Street's culture and the divisions within the industry.
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Businesses are spending again
Mar 8, 2012
A recent report from the Bureau of Economic Analysis about the health of the economy in the fourth quarter of 2011 shows a 20 percent spike in investment -- a sign that businesses are back to spending, not hoarding, their money.
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From American Public Media's Marketplace, a blog devoted to listeners and readers who want to understand and talk about Wall Street. This blog supplements our stream of Wall Street coverage with a Marketplace perspective by New York bureau chief Heidi N. Moore.
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