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January 6, 2014

Fallout from Bernie Madoff costing JPMorgan Chase a pretty penny

  • $2B the amount of the settlement JPMorgan Chase is expected to reach with the federal government over the Bernie Madoff saga, due to the company reportedly ignoring clear signs of Madoff’s ponzi scheme. In the past year, the company has had to pay out $20 billion to settle government investigations. source
0:45 // 3 months ago
September 7, 2013
13:10 // 7 months ago
October 1, 2012
19:55 // 1 year ago
June 28, 2012

JPMorgan Chase’s trading losses looking way higher than $2 billion

  • $2 billion the size of JPMorgan Chase's original trading loss which really ticked people off a few weeks ago
  • $9 billion the size of JP Morgan Chase’s potential trading loss, which is a lot more than $2 billion source

» So, um, what happened?! To put it simply, the company has a lot of work to do to unravel the bad investments they made, and while they managed to pull out from the most volatile part, they haven’t gotten out entirely. Remember how angry you were when you found out JPMorgan Chase announced the trading loss? Quadruple that.

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11:08 // 1 year ago
June 13, 2012

Video of the morning: As JPMorgan Chase head Jamie Dimon was getting grilled in front of the Senate Banking Committee, a bunch of liberal activists showed up, shouting “STOP FORECLOSURES NOW!” (among other things) before getting kicked out. In case you’d like to watch this ongoing event, click over here.

11:18 // 1 year ago
May 15, 2012
reuters:

Shareholders in JPMorgan Chase & Co on Tuesday rejected a proposal calling on the company to split the roles of chairman and chief executive, a victory for incumbent Jamie Dimon.
The proposal received some 40.1 percent of votes cast in favor, the company said at the end of its annual meeting.
DEVELOPING: JPMorgan shareholders reject chairman/CEO split

This guy hasn’t had a good week.

reuters:

Shareholders in JPMorgan Chase & Co on Tuesday rejected a proposal calling on the company to split the roles of chairman and chief executive, a victory for incumbent Jamie Dimon.

The proposal received some 40.1 percent of votes cast in favor, the company said at the end of its annual meeting.

DEVELOPING: JPMorgan shareholders reject chairman/CEO split

This guy hasn’t had a good week.

11:48 // 1 year ago
May 14, 2012

Roundup: Execs leaving their companies under not-so-great terms

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10:35 // 1 year ago
May 12, 2012
JPMorganChase fought for a loophole that led to $2 billion trading loss
Not long after Dodd-Frank got passed, the company made arguments for a loophole in the Volcker Rule, which takes effect in July, to allow some of the types of portfolio hedging that that company used as it produced a $2 billion loss recently. “JPMorgan was the one that made the strongest arguments to allow hedging, and specifically to allow this type of portfolio hedging,” noted one Treasury Department official. Officials who worked on the law, such as Sen. Carl Levin, have made it clear that allowing for this type of activity was not their intention with the law. Now, they have a pretty clear $2 billion argument against allowing such a loophole to get through. (photo by Scott Eells/Bloomberg; edit for clarity)

JPMorganChase fought for a loophole that led to $2 billion trading loss

Not long after Dodd-Frank got passed, the company made arguments for a loophole in the Volcker Rule, which takes effect in July, to allow some of the types of portfolio hedging that that company used as it produced a $2 billion loss recently. “JPMorgan was the one that made the strongest arguments to allow hedging, and specifically to allow this type of portfolio hedging,” noted one Treasury Department official. Officials who worked on the law, such as Sen. Carl Levin, have made it clear that allowing for this type of activity was not their intention with the law. Now, they have a pretty clear $2 billion argument against allowing such a loophole to get through. (photo by Scott Eells/Bloomberg; edit for clarity)

11:38 // 1 year ago
July 18, 2011

The US Treasury is running low on cash

  • 29 companies have more money than the United States Treasury
  • 7 of those companies are based in America source

» The American companies include: Bank of America, JPMorgan Chase, Morgan Stanley, Goldman Sachs, and Freddie Mac. Two of the top three companies on the list are Chinese. On the upside, the Treasury has as much money as Google, so that’s kind of a nice consolation prize.

23:23 // 2 years ago
October 13, 2010

JPMorgan Chase to Wall Street: Bad quarter? Pssh… whatever.

  • 23% increase in 3Q income for the massive banker source
10:03 // 3 years ago