Former blue-chip honcho could face 20 years after conviction on conspiracy and three insider trading charges.
Finance
Thinking About Robbing a Bank? Read This First
It would seem like easy money. You walk into a bank, hand a threatening note to a teller, gesture at the gun in your pocket (real or squirt), then walk out moments later with a big sack of cash. Oh, sure, you might have to spend …
Dimon Hearing Reveals Lingering Questions About the Health of the Financial System
JPMorgan Chase CEO Jamie Dimon withstood a barrage of verbal flak yesterday in the Senate Banking Committee hearing which sought to investigate the over $2 billion trading loss that his bank suffered this spring. But the …
Four Takeaways from the Latest MF Global Revelations
It’s 2011 all over again. The European debt crisis is nipping our incipient recovery in the bud. There’s talk of a growing battle over the nation’s debt ceiling. And now there are new revelations of former U.S. Senator and …
China’s Antiquated Financial System: The Creaking Grows Louder
In April, Chinese Premier Wen Jiabao took aim at China’s powerful state-owned banks. According to Reuters, he said at a discussion with local businesses: “Frankly, our banks make profits far too easily. Why? Because a small …
Banker Angst: The Inside Story (With Pictures)
Bankers and others in the business of finance aren’t exactly winning any popularity polls at the moment. The Facebook IPO has many complaining that the investment game is rigged. The Occupy Wall Streeters are still in the …
Has Facebook Jinxed the IPO Market for Everyone?
Facebook’s post-IPO meltdown has certainly been bad news for investors who got into the stock at its initial price — or higher. Is it also bad news for the IPO market as a whole?
Which Advanced Economy Has the Most Debt?
With all the talk of Greece’s impending exit from the euro zone, debt is once again in the headlines. Greece’s massive public sector debt, coupled with its inability to devalue its currency, has put the country at risk of …
The Creepy Dudes of Wall Street: Are Finance Guys Losing Their Mojo on the Dating Scene, Too?
It’s tough to tell when an internet phenomenon reaches actual meme status. But, in the case of the “creepy finance guy,” I think we can finally call it.
This week saw yet another jaw-dropping tale of Wall Street …
Chasing Chase: The Difference Between Bank Robbers and Bank Bunglers
Why is everyone getting so outraged about JPMorgan Chase losing two billion bucks? It’s a bank. Isn’t losing money what modern banking is all about—you take in deposits from normal folk and then invest those hard earned …
Sick of Hearing About Facebook? You’re Not Alone
With the much heralded Facebook IPO almost upon us, a backlash is growing among those weary of the endless hype. Some are skeptical of the company’s lofty valuation; others are just sick of all the attention being given to a …
Is the Fed to Blame for JPMorgan’s $2 Billion Blowup?
The JPMorgan $2 billion-trading-loss story is nearly a week old, and the news has predictably gone through the various spin cycles of the political right and left. Initially, progressives pounced on the loss as reason to …
