Bob Morris Posted on Fri Jun 29, 2012 6:00 am.
Estimates of the JPMorgan trading loss continue to climb. This is the very same JPMorgan who originally said losses were $1.5 billion or so and whose CEO Jamie Dimon used to preen arrogantly about how they had the best risk managagement of any investment bank. Losses on JPMorgan Chase’s bungled trade could total as much [...]
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Bob Morris Posted on Thu May 24, 2012 5:45 am.
If you add in the drop in the stock price, then JPMorgan losses are more like $30 billion. Obama is of course mute when it comes to criticizing the banksters, especially when it involves an old pal like JPMorgan CEO Jamie Dimon. Dimon, in his comments on Monday, said the bank wasn’t going to keep [...]
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Bob Morris Posted on Sun May 20, 2012 16:00 pm.
JP Morgan’s loss in risky derivatives originally estimated at $2 billion is now $5 billion and could well go higher. In addition, they have another $100 billion in risky bonds. This from the bank that had a sterling reputation for managing risk. CEO Jamie Dimon told the traders to take on more risk, so they [...]
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Bob Morris Posted on Mon May 14, 2012 5:45 am.
JPMorgan executives may have learned of the impending disaster with their London Whale trade from articles in the WSJ and Bloomberg. This from the company that more or less invented risk management and were supposed to be expert at it. Clearly their risk management was and is mostly nonexistent. This is how Wall Street now operates; [...]
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Bob Morris Posted on Fri May 11, 2012 16:39 pm.
Jonathan Turley reflects upon the vengeance Moby Dick delivered to Captain Ahab. Now Dimon is expected to blame the whale rather than his own anti-reform position. It is not the first time that a mad leader personified his own failings. If you haven’t read Moby Dick, why he’s just getting warmed up in the picture…
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Bob Morris Posted on Fri May 11, 2012 8:27 am.
JPMorgan has lost at least $2 billion in deranged derivatives trades. Despite all the pretend reform by the government, nothing has changed on Wall Street and the feds are still asleep at the wheel, no doubt deliberately so. Now we know the truth about Wall Street: It’s just kids playing with dynamite. Yesterday’s JP Morgan implosion [...]
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Bob Morris Posted on Thu Oct 7, 2010 7:30 am.
We now have confirmed instances, including 911 calls, of banks hiring people to break into homes where the foreclosure has not yet taken place, and in some instances, they’re breaking into the wrong house. That’s illegal – until the bank has a court order giving them possession, they don’t have possession and they have no [...]
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Bob Morris Posted on Mon May 10, 2010 0:10 am.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said. Gosh, it’s looking more and more like our fabled investment banks are just a bunch of thieves and criminals. I’m waiting for the Obama Administration to try to kill [...]
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Bob Morris Posted on Mon Mar 17, 2008 0:16 am.
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