It’s one of the few things Congress is demonstrably good at these days: the open flagellation of American businessmen. The …
Volcker Rule
JPMorgan’s ‘London Whale’ Loss Rises to $3 Billion as Lawsuits Fly
Days after disclosing a massive derivatives trading loss, JPMorgan Chase was hit with three shareholder lawsuits accusing company executives — and its CEO Jamie Dimon — of misleading investors about the extent of the blunder. …
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 …
‘Whale’ Fail: JPMorgan’s $2 Billion Blunder Tied to London Trader
Almost immediately after the stock market closed yesterday, JPMorgan Chase asked Wall Street analysts to attend a highly unusual, hastily assembled, postmarket conference call. Speculation was rampant: What could be so urgent? A …
Occupy the SEC: Moving From the Campsite to the Weeds of Regulatory Reform
The surest way to rankle a supporter of the Occupy Wall Street movement is to repeat the common claim that the movement has no defined goals, a criticism that has dogged the group since its inception. But last week an offshoot of …
Paul Volcker Defends Eponymous Rule
Though the Dodd-Frank Wall Street reform act was passed way back 2010, much of the law remains to be implemented. One reason for the lag between passage of laws and their implementation is that when federal agencies propose new …
Wall Street: Doom and Gloom After No-Good, Very-Bad Year
How bad has the mood gotten on Wall Street? Judging by an article in the new issue of New York magazine, the answer is bleak indeed. Even as the broader economy shows signs of improving, Wall Street is coming off a year in which …
