CEO Jamie Dimon

Japan’s expanding insider trading investigation has now extended to JPMorgan Chase & Co (NYSE:JPM). The bank has been identified as the 2010 source for leaked information in a share offering by Nippon Sheet Glass Co Ltd. According to Reuters, three people familiar with the inquiry said that officials had concluded that a JPMorgan salesman was the leak’s source by telling the Tokyo-based fund, Asuka Asset Management about it. This action represents the first time that Japanese officials have...Read Full Story

UK politicians and regulators may feel good. It was an American, bank, not a British one, whose CEO had grimly to announce that “errors, sloppiness, and bad judgment” would cost it $2 billion – and now probably more – in losses. And it’s American pundits who are doing the handwringing, wondering what went wrong with President Barack Obama’s two-year-old, 848-page financial-regulation law that allowed JPMorgan Chase to take such a risk.Yet Britain should feel a bit queasy – for failing to heed...Read Full Story

Even as details trickle out about how JPMorgan Chase lost several billion dollars on derivatives trades, the essential unknowns continue to outweigh the knowns. This inevitable ignorance is worth keeping in mind as -- let us hope -- regulators focus on the latest fiasco as a teachable moment, and impose rules to protect taxpayers against another system-wide catastrophe.   Do You Like this Article? Then Like Us on Facebook.  What happened this time, and how did it happen? You can...Read Full Story

Even as details trickle out about how JPMorgan Chase lost several billion dollars on derivatives trades, the essential unknowns continue to outweigh the knowns. This inevitable ignorance is worth keeping in mind as -- let us hope -- regulators focus on the latest fiasco as a teachable moment, and impose rules to protect taxpayers against another system-wide catastrophe.   Do You Like this Article? Then Like Us on Facebook.  What happened this time, and how did it happen? You can...Read Full Story

NEW YORK (Reuters) – JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades. CEO Jamie Dimon earlier this month said the bank sold corporate bonds and other securities, pocketing $1 billion in gains that will help offset more than $2 billion in losses. As a result, the bank will not have to report as big an earnings hit...Read Full Story

Apparently running a museum is enough to qualify you to judge whether a bank's risk is too big. At least according to JPMorgan Chase.   Do You Like this Article? Then Like Us on Facebook.  The committee responsible for overseeing risks at JPMorgan includes Ellen Futter, the head of the American Museum of Natural History, Bloomberg reports. Futter also sat on the governance committee of AIG in 2008 right before the firm's infamous collapse. Other committee members include the CEO of...Read Full Story

JPMorgan Chase Tower (Photo credit: Kent Wang)by Washington's Blog, on Global Research.ca: http://www.globalresearch.caBefore we can understand what’s really going on with JP Morgan’s loss (which will probably end up being a lot more than $2 billion), we need a little background.JP Morgan:- Is the world’s largest publicly-traded company- Is the largest bank in the U.S. … the biggest of the too big to fail banks which are killing the American economy- Is the largest derivatives dealer in the...Read Full Story

On Monday, JPMorgan Chase & Co. (NYSE:JPM) announced that it cancelled its share buy backs while rumors circulated that its trading loss is growing. The figure may now hit $7 billion. With the suspension, the bank will now buy back $15 billion in its own shares. This can help prop up JPMorgan’s share price, which it needs. On Monday, its shares fell 2.45 percent to a six month-low of $32.67; in the last year, the bank’s value has declined by a quarter, according to The Independent. Dimon said...Read Full Story

The new week kicked off with news that JPMorgan Chase & Co. (NYSE:JPM)’s trading loss my widen even more thanks to the crumbling Europe situation. A second report has losses estimated up to $5 million. In comments by one of the hedge funds that took the opposing side to some of JPMorgan’s questionable trades, Michael Platt, co- founder and chief executive officer of BlueCrest Capital Management LLP, made some gloomy predictions on Bloomberg Television’s “Inside Track” on Monday. He said...Read Full Story

A cutout figure of JPMorgan Chase CEO Jamie Dimon hovers above a May 2011 protest against banks on Wall Street. STORY HIGHLIGHTS JPMorgan CEO Jamie Dimon gets $23 million pay package despite the bank's $2 billion loss Ingo Walter and Jennifer Carpenter: Real concern should not be level of executive pay They say bank shareholders and employees have incentives to take risks to make more money Focus on changing risk incentives rather than amount of pay, the writers say Editor's note: Ingo...Read Full Story