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JPMorgan sorts out 'London Whale' consequences

Jul 13, 2012
JPMorgan Chase CEO Jamie Dimon spoke this morning about the company's solid quarterly earnings, but all the attention is on the massive $4.4 billion trading loss -- twice what they first thought -- and how the company will sort out the implications.
Posted In: JPMorgan, Jamie Dimon, London Whale

JPMorgan discloses $4.4 billion in trading losses

Jul 13, 2012
JPMorgan Chase has just released its quarterly earnings report, and the big number to report is: $4.4 billion. That's the new estimate for the size of JPMorgan's loss from risky trading bets.
Posted In: JPMorgan, trading, losses, Earnings

A 'Whale watch' as JPMorgan reports earnings

Jul 13, 2012
The highlight of JPMorgan Chase’s second quarter earnings report will be an update on the trading loss by the so-called London Whale.
Posted In: JPMorgan, London Whale

OCC to take closer look at JPMorgan's trading models

Jun 29, 2012
The Office of the Comptroller of the Currency is flexing its regulatory muscle and wants to review JPMorgan's risk models.
Posted In: JPMorgan, risk

JPMorgan trading losses could total as much as $9 billion

Jun 28, 2012
Although originally estimated at about $2 billion, the total losses from JPMorgan's botched trade in derivatives could -- in a worst case scenario -- reach upwards of $9 billion, according to the New York Times.
Posted In: JPMorgan, Jamie Dimon

Senate Banking Committee's involvement in JPMorgan

Jun 13, 2012
Sixteen senators from the Senate Banking Committee have taken campaign contributions from JPMorgan's political action committee. We called them for comment.
Posted In: Senate Banking Committee, JPMorgan

Jamie Dimon's testimony was a wake for Dodd-Frank

Jun 13, 2012
JPMorgan CEO Jamie Dimon spoke before the Senate Banking Committee today, trying to explain the $2 billion loss his company made in trading. The committee went fairly easy on the banker.
Posted In: JPMorgan, Jamie Dimon

How a CEO prepares for Senate testimony

Jun 13, 2012
The CEO of JPMorgan has been summoned to Capitol Hill today. According to his prepared remarks, Dimon will apologize, saying he feels "terrible" about the $2 billion blunder.
Posted In: JPMorgan, banking, Jamie Dimon

Jamie Dimon has an uphill battle in the Senate

Jun 13, 2012
The JPMorgan Chase CEO testifies before the Senate Banking Committee today, trying to convince Congress that more bank regulation isn't needed, even after his company's $2 billion trading loss.
Posted In: JPMorgan, Jamie Dimon

Jamie Dimon apologizes, explains loss before Congress

Jun 13, 2012
JPMorgan CEO Jamie Dimon apologized for not doing a better job supervising trades that lost his bank billions. Dimon emphasized that while bank shareholders lost money, their clients and taxpayers did not.
Posted In: bank, JPMorgan, Jamie Dimon