Why is everyone getting so outraged about JPMorgan Chase losing two billion bucks? It’s a bank. Isn’t losing money what …
derivatives
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 …
FBI Launches JPMorgan Probe as Dimon Keeps $23M Pay Package
The FBI has opened a probe of JPMorgan’s $2 billion botched trade, which has wiped out nearly $20 billion in shareholder equity and renewed calls for more aggressive regulation of Wall Street. News of the federal probe, which was …
Will JPMorgan’s $2 Billion Blunder Finally End ‘Too Big to Fail’?
JPMorgan’s $2 billion bungled trade has severely damaged the reputation of its CEO Jamie Dimon and vaporized nearly $20 billion in shareholder value. But will it lead to the kind of enhanced Wall Street regulation many experts …
Top JPMorgan Exec Out Over $2B Blunder as CEO Dimon Faces Heat
JPMorgan Chase moved swiftly on Monday to contain the growing fallout from a trading loss that could reach $3 billion or more, replacing the bank’s chief investment officer Ina Drew and moving to tamp down a growing furor over …
No Snow, No Problem: How Wall Street Profits from Weird Weather
Never discount Wall Street’s ability to turn the most basic parts of life into profits. Mother nature is the latest money spinner for financial firms. Despite the recent Northeast snowstorm, the unseasonably warm winter, and in …
Derivatives to the Rescue? How ‘Betting Against’ the U.S. Could Prevent A Default Crisis
Wednesday’s plunge in the markets signaled that the impasse over the debt ceiling, if it continues, will eventually trigger a substantial market sell-off. Until now, there had been surprising complacency among investors, who seemed to assume that after all the noise and haggling there would, of course, be a deal. That belief itself …
Oddities of the Blackrock-AIG report
So far it appears the most noteworthy document of the 250,000 pages obtained by the House Committee on Government Oversight and Reform, which is holding a hearing on Wednesday on AIG’s government bailout, is a 44-page powerpoint presentation put together by bond firm Blackrock analyzing the insurer’s ability to negotiate haircuts on its …
Financial capitalism, what is it good for?
A reader (well, this Pulitzer-winning genius newspaper columnist of a reader), e-mails after reading my book:
From the very beginning of financial capitalism, the goal seems to have been to beat the market, which is to say, anticipate and profit the upside and downside of the market—not the industry or business of the stock traded.
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