JPMorgan Chase’s $2 Billion Loss

The lesson of JPMorgan’s stunning $2 billion trading loss is that the banks haven’t learned their lesson, and neither have the politicians.

Jamie Dimon, the chief executive of JPMorgan Chase, can be clear as a bell when he denounces financial reform. But on an emergency conference call with analysts on Thursday to announce the bank’s stunning $2 billion trading loss, his message was frustratingly vague. Full Story »

Posted by Fabrice Florin - via New York Times (Opinion), New York Times (Most Emailed), New York Times (Editorials)
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Member Tags: james dimon, jpmorgan chase & company, banking and financial institutions, dodd-frank wall street reform and consumer protection act (2010), regulation and deregulation of industry, derivatives (financial instruments), law and legislation, paul volcker, jpm, nyse
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Posted by: Posted by Fabrice Florin - May 12, 2012 - 7:20 AM PDT
Content Type: Article
Edit Lock: This story can be edited
Edited by: Fabrice Florin - May 13, 2012 - 4:45 PM PDT

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MalayaBikers
by MalayaBikers - May. 17, 2012

nice post ..thanks sharing

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John Creser
4.8
by John Creser - May. 14, 2012

Staight to the point about the lack of information from J P Morgan, and a clear message to politicians and regulators

See Full Review » (4 answers)

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  • At JPMorgan, the Ghost of Dinner Parties Past

    The $2 billion trading loss disclosed last week by JPMorgan Chase shows how the tables have turned on the bank and its chief executive, an industry point man against tighter ...
    Posted by Fabrice Florin
  • JPMorgan Chase Fought Rule on Risky Trading

    JPMorgan Chase fought for the ability for banks to make big bets in their portfolios, including some of the types of trading that led to the $2 billion loss now rocking the bank.
    Posted by Fabrice Florin