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Arizona Republic
| 1 year ago
organ Chase CEO Jamie Dimon is willing to testify at a congressional hearing this spring on the bank's $2 billion trading loss. Chairman Sen. Tim Johnson, a South Dakota Democrat, says he has invited Dimon to testify about the loss at the nation's...
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Politico
| 1 year ago
JP Morgan Chase CEO Jamie Dimon will be called to testify before the Senate Banking Committee in the coming weeks, the panel's chairman announced Thursday and Dimon plans to accept. Sen. Tim Johnson (D-S.D.) said Dimon whose firm has been under...
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Turks and Caicos Free Press
| 1 year ago
U.S. stocks hit a four-month low on Thursday, as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. Facebook Inc is expected to price its initial...
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Reuters
| 1 year ago
News Analysis & Opinion Related Topics A protester in the Occupy Wall Street movement holds a protest sign with the face of JPMorgan CEO Jamie Dimon as he participates in a rally in New York, May 15, 2012. JPMorgan Chase & Co Chief Executive Jamie...
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CNN
| 1 year ago
A Senate panel has called Jamie Dimon, the head of JPMorgan Chase, to testify about some $2 billion lost in complex trades intended to hedge against economic risk. "Our due diligence has made it clear that the Banking Committee should hear directly...
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International Business Times
| 1 year ago
organ Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday. Johnson did not say on...
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Christian Science Monitor
| 1 year ago
The dog that didn't bark this week, let alone bite, was the President's response to JP Morgan Chase 's bombshell admission of losing more than $2 billion in risky derivative trades that should never have been made.
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MarketWatch
| 1 year ago
But has he finally learned the four hard lessons about taking high-risk gambles in the global $650 trillion derivatives market that in 2008 virtually bankrupt Wall Street and the economy?...Or will he just get cleverer and keep pushing his 2011...
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Voice of America
| 1 year ago
organ is facing increasing pressure to explain recent losses. Last week, the world's largest bank disclosed a loss of at least $2 billion from trades that were supposed to protect the firm from risk. Now the FBI is looking into whether any laws...
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The Motley Fool
| 1 year ago
recent $2 billion trading loss has sparked the usual chorus of criticism for the big banks and a call for greater regulation. Simon Johnson, former chief of the International Monetary Fund, said, "It just shows they can't manage risk -- and if...
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Politico
| 1 year ago
Retiring Rep. Barney Frank, the author of the 2010 Dodd-Frank law that tightened Wall Street regulations, said Wednesday that the recent losses at JPMorgan Chase showed the need for even tougher rules. I think we now have a stronger argument for a...
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Orlando Sentinel Online
| 1 year ago
organ Chase & Co., President Obama puts his money where his mouth is. Despite the bank's $2-billion trading loss, Obama this week said JPMorgan is "one of the best-managed banks there is" and called Chief Executive Jamie Dimon "one of the smartest...
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The New York Observer
| 1 year ago
Last Thursday's revelation of a multibillion-dollar trading loss at JPMorgan's Chief Investment Office has reverberated through Wall Street and Washington, stiffening the resolve of tighter regulation's most outspoken advocates. For the weekend's op-...
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Truthdig
| 1 year ago
organ Chase CEO Jamie Dimon may be less concerned with the actual $2 billion his bank lost than the credence it lends to calls for tougher regulation. Dimon is among those bankers who has objected to even the most tepid efforts to re-regulate his...
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Pittsburgh Post-Gazette
| 1 year ago
The FBI case will examine potential criminal wrongdoing at JPMorgan, according to people briefed on the matter, representing the most serious inquiry to stem from the losses. The inquiry, led by the FBI's New York office, will in part scrutinize...
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The New York Times
| 1 year ago
They cautioned that the inquiry was at an early stage and that it was routine for federal authorities to open a case after a big bank disclosed a huge blunder...While the trading loss is not likely to blow a hole in JPMorgan's balance sheet, the...
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Acushnet Community News
| 1 year ago
Sen. hopeful Elizabeth Warren has released a radio ad designed to capitalize on a $2 billion trading blunder by JPMorgan to cast herself as the defender of middle class. Warren never mentions the bank in the 60-second ad, but refers to the $2 billion...
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Financial Times
| 1 year ago
The Justice Department has opened a preliminary investigation into the $2bn in trading losses suffered by JPMorgan Chase , according to a person familiar with the matter. The review is preliminary, this person said, and is being led by the Federal...
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Newsbusters
| 1 year ago
Dutifully doing its part to find any excuse to expand government regulation, NBC News on Monday and Tuesday immediately touted Democratic efforts to exploit a $2 billion loss of private money for banker JPMorgan Chase to push for more government...
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NY1
| 1 year ago
Justice Department has reportedly launched a criminal investigation into the massive trading loss announced by JP Morgan Chase. The Washington Post reports the probe into the $2 billion blowup has just gotten underway, but it comes as company CEO...
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USA Today
| 1 year ago
Presumptive GOP presidential nominee Mitt Romney has received $373,650 in campaign donations from JPMorgan employees, according to records kept by the non-partisan Center for Responsive Politics . That's more than any other candidate for Congress or...
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MarketWatch
| 1 year ago
Jamie Dimon decided to pull the Band Aid off fast...Morgan Chase & Co. sped through the bank's annual shareholders meeting in 50 minutes. Roughly half of the meeting held in Tampa, Fla., was dedicated to formalities, half was given over the hoi...
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National Public Radio
| 1 year ago
The Justice Department has begun looking into JPMorgan Chase's $2 billion-and-counting loss from a hedge account, The Wall Street Journal reports ...The Journal adds that "the probe is at an early stage and it isn't clear what possible legal...
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Christian Science Monitor
| 1 year ago
Federal regulators embedded at JP Morgan are supposed to get the reports that CEO Jamie Dimon gets. But in the case of JP Morgan's $2 billion loss, that might not have been much help.
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United Press International
| 1 year ago
Sen. Scott Brown , R-Mass., said he won't return $50,000 in contributions from donors with the giant JPMorgan Chase, prompting criticism from Democrats. John Walsh , chairman of the Massachusetts Democratic Party, said Brown "watered down Wall Street...
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Los Angeles Times
| 1 year ago
organ shareholder conference are concerned with the bank's recently disclosed $2-billion loss and 12% plunge in their stake in the bank. "When you are 94 years old, you don't want to see any of your investments deteriorate in this fashion, said Helen...
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Minneapolis Star Tribune
| 1 year ago
organ Chase CEO Jamie Dimon is facing shareholders five days after disclosing a $2 billion trading loss. Dimon will speak Tuesday morning at the bank's annual meeting in Tampa, Fla. Shareholders will vote on whether to separate the bank's chairman...
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United Press International
| 1 year ago
organ Chase & Co. will probe a $2.3 billion trading fiasco and "learn from our mistakes," its chairman said before a Tuesday shareholder meeting in Florida. The internal executive investigation will get to the bottom of the debacle, Jamie Dimon...
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Independent
| 1 year ago
The White House seized on the bank's problems yesterday to renew calls for tighter regulation on big banks, and confirmed that the US Securities and Exchange Commission was investigating the losses. JPMorgan said chief investment officer Ms Drew, who...
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Boston Herald
| 1 year ago
organ Chase CEO and Chairman Jamie Dimon will face angry investors today when the bank holds an annual shareholders' meeting scheduled months ago, but convening days after the firm lost billions on risky trades. I definitely think he's going to have...
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Boston Herald
| 1 year ago
Senate candidate Elizabeth Warren is calling on Congress to revive Depression-era limits on what businesses banks can engage in following JPMorgan Chase's $2 billion loss. Warren launched an online petition today demanding revival of 1933's Glass-...
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Boston.com
| 1 year ago
Associated Press / May 14, 2012 E-mail this article To: Invalid E-mail address Add a personal message: (80 character limit) Your E-mail: Invalid E-mail address Sending your article Your article has been sent. Massachusetts Democrats are seizing on...
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The Motley Fool
| 1 year ago
CEO Jamie Dimon addressed worries that his bank had too much exposure to derivatives. "The company manages those exposures name by name -- like a hawk," he said. Last week we learned that those exposures blew up into a $2 billion loss -- a figure...
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International Business Times
| 1 year ago
Senate Democratic candidate for Massachusetts, Harvard Law professor and former White House adviser Elizabeth Warren is calling for a new Glass-Steagall law to separate investment and commercial banking. Share This Story The Glass-Steagall Act was a...
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Newsbusters
| 1 year ago
On Monday's CBS This Morning, Charlie Rose and Erica Hill touted Massachusetts Democrat Elizabeth Warren's past time as " the government's chief watchdog during the 2008 bank bailout " as she was brought on to discuss JP Morgan Chase's $2 billion...
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Russia Today
| 1 year ago
Even though this holiday originated in the US only to become popular worldwide, it hadn't been massively celebrated in its home country...Drew resigned as CIO on Monday, but that's not to say she is stepping down with nothing to show. Despite being...
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Boston Globe
| 1 year ago
In a conference call with reporters, the party chairman, John Walsh, said Brown must reveal who sits on his New York City Finance Committee, an entity that hosted an evening reception for Brown on March 12. Walsh also pointed to a Globe analysis of...
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CNN
| 1 year ago
Congress is beginning to weigh in on the news that JPMorgan Chase lost $2 billion on complex trades intended to hedge against economic risk, and that the losses could mount. Sen. Bob Corker, a Tennessee Republican, was the first to call for a hearing...
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The Mercury News
| 1 year ago
organ Chase Chief Investment Officer Ina Drew retired on Monday, the first casualty after the bank suffered trading losses that could reach $3 billion or more and that have tarnished the reputation of high-profile CEO Jamie Dimon. In Drew's place,...
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Merced Sun-Star
| 1 year ago
CEO and, at least until last week, legendary manager of risk in banking...Outspoken opponent of some regulatory changes for the industry. Said Sunday that he was "dead wrong" in dismissing concerns about the bank's trading activity. Retired Monday as...
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The Economic Times
| 1 year ago
organ Chase said on Monday that its chief investment officer Ina Drew was resigning in the wake of the bank's stunning $2 billion loss on derivatives trading. Drew is "retiring" after more than 30 years at the bank, JPMorgan said, but her departure...
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Turks and Caicos Free Press
| 1 year ago
The executive responsible for trading strategy at JPMorgan Chase , one of the highest-ranking women in Wall Street, on Monday became the first casualty of the bank's stunning $2 billion loss. Ina Drew, 55, the chief investment officer for the bank...
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The Naples Daily News
| 1 year ago
AP In this Oct. 27, 2009 file photo, James Dimon, chairman and CEO of JP Morgan Chase & Co., speaks in New York. JPMorgan Chase, the largest bank in the United States, on Thursday, May 10, 2012 said that it lost $2 billion in the past six weeks in a...
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Boston Herald
| 1 year ago
The first heads are expected to roll as early as this week at JPMorgan Chase & Co., after the disclosure of a $2 billion trading loss that has rekindled fears about excessive risk taking on Wall Street. Three employees involved in the unit at fault...
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Politico
| 1 year ago
Massachusetts Senate candidate Elizabeth Warren on Monday called on JPMorgan CEO Jamie Dimon to resign from the New York Federal Reserve Board as a public acknowledgment that he is in a position of trust...I'd like to see Jamie Dimon, for example,...
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National Public Radio
| 1 year ago
Three high-ranking executives, including one of the most powerful women on Wall Street, are expected to resign from JPMorgan Chase this week because of their roles in the $2.3 billion loss the bank recently suffered when some risky trades blew up in...
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The Columbus Dispatch
| 1 year ago
Schwartz and Jessica Silver-Greenberg Stung by one of the biggest trading losses in its history, JPMorgan Chase will replace several top traders starting today, in an effort to stem the fury that the nation's largest bank faces from regulators and...
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United Press International
| 1 year ago
Banks will "lose their battle" to weaken new Wall Street rules, a U.S. senator said, as JPMorgan Chase & Co.'s head said its trading loss could top $3 billion. Sen. Carl Levin , D-Mich. -- a proponent of the so-called Volcker rule, limiting bank risk-...
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Mail Online UK
| 1 year ago
14 May 2012 Two London-based executives were forced out of crisis-hit JPMorgan Chase as heads begin to roll in the wake of the 1.25billion trading loss fiasco. Achilles Macris, who ran the London desk that made the botched trades, was expected to...
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BBC
| 1 year ago
organ senior executives 'to resign' Jamie Dimon said there was "no excuse" for the bank's mistake Top executives at JPMorgan Chase are expected to resign on Monday following $2bn (£1.2bn) of losses at the bank's London trading desk, reports suggest.
