Tag Archives: JPMorgan Chase

ZeroHedge – JP Morgan Problem Writ Large – 19 October 2013

ZeroHedgeAuthored by Howard Davies, originally posted at Project Syndicate,

JPMorgan Chase has had a bad year. Not only has the bank just reported its first quarterly loss in more than a decade; it has also agreed to a tentative deal to pay $4 billion to settle claims that it misled the government-sponsored mortgage agencies Fannie Mae and Freddie Mac about the quality of billions of dollars of low-grade mortgages that it sold to them. Other big legal and regulatory costs loom. JPMorgan will bounce back, of course, but its travails have reopened the debate about what to do with banks that are “too big to fail.”

Read the whole post at: www.zerohedge.com / link to original article

MarketWatch – Jamie Dimon On Life After J.P Morgan : No Plans To Run Another Big Bank – 15 October 2013

MarketWatch

Jamie Dimon has no plans to head up another major bank after being the chairman and CEO of J.P. Morgan Chase & Co.

That’s what Dimon told the audience at the Financial Women’s Association event last Tuesday during a “fireside” chat, when asked about his future, according to sources at the event.

Read the whole story at: blogs.marketwatch.com/ link to original article

JPMorgan Chase, Wells Fargo Bank Profits Jump – 12 July 2013

JPMorgan Chase Chairman and CEO Jamie Dimon, right, visits with  traders Thomas Kay, left, and Frederick Reimer on the floor of the New York Stock Exchange Friday.The biggest U.S. bank, says its second-quarter earnings surged 32 per cent.Loans still soft, but U.S. banking sector in recovery

 JPMorgan Chase Chairman and CEO Jamie Dimon, right, visits with traders Thomas Kay, left, and Frederick Reimer on the floor of the New York Stock Exchange Friday.The biggest U.S. bank, says its second-quarter earnings surged 32 per cent. (Richard Drew/Associated Press)

JPMorgan Chase saw second-quarter earnings surge 32 per cent, while Wells Fargo profit was up 20 per cent, a sign of relative health in the U.S. banking industry.

JPMorgan Chase, the biggest U.S. bank, had profits of $6.1 billion US after stripping out payments to preferred shareholders, up 32 per cent from $4.6 billion in the same period a year ago. The earnings were equivalent to $1.60 per share, beating analysts expectatons of $1.44 per share.

Read the whole story at :  www.cbcnews.ca / link to original article

Matt Taibbi – Senators Grovel, Embarrass Themselves At Dimon Hearing – 16 June 2012

I was unable to watch J.P. Morgan Chase CEO Jamie Dimon’s Senate testimony live the other day, so I had to get up yesterday morning and check it out on the Banking Committee’s web site. I had an inkling, from the generally slavish news reports about the hearing that started to come out Wednesday night, that it would be a hard thing to watch. Continue reading

Mish/ Mike Shedlock – Morgan Stanley Bonds Trade At Junk Pricing, Downgrades Coming; Will Morgan Stanley Survice? Top 5 Banks Collectively Have 45:1 Leverage – 2 June 2012

Morgan Stanley’s corporate borrowing costs are already way higher than Goldman Sachs and more downgrades are likely in the works.
The Fiscal Times explains How Morgan Stanley sank to junk pricing

The bond markets are treating Morgan Stanley like a junk-rated company, and the investment bank’s higher borrowing costs could already be putting it at a disadvantage even before an expected ratings downgrade this month. Continue reading

Grant McCool- Reuters – Shareholders Sue JP Morgan Chase Over Trading Loss – 16 May 2012

JP Morgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion. Continue reading

David Henry – FBI Launches JP Morgan Probe, Shareholders Back Dimon – 15 May 2012

Protestors hold signs and pictures of CEO Jamie Dimon as JP Morgan Chase & Co convenes its annual shareholders meeting at the bank's back-office complex in Tampa, Florida, May 15, 2012. REUTERS/Brian BlancoBy David Henry

TAMPA, Florida | Tue May 15, 2012 1:54pm EDT

(Reuters) – The FBI has opened a probe into trading losses at JPMorgan Chase & Co, stepping up the pressure on the bank after the U.S. Securities and Exchange Commission and the Federal Reserve said they were also looking into the wrong-way bets that led to the losses. Continue reading