JPMorgan’s marking department had a great idea – lets host a Twitter chat or “Twitter Takeover” to promote our company and rehabilitate our horrible reputation. What could possibly go wrong?
|By: dakine01 Thursday September 19, 2013 5:42 pm|
The days of pirates sailing the Spanish Main are long in the past. No more sacking of Cartagena. No, today’s “pirates” wear business suits and do their sailing on Wall St. Just today, we have reports that JPMorgan Chase is paying a $920M fine for the “London Whale Fail” trading losses. Amazingly enough, JP Morgan is even admitting “fault”.
|By: DSWright Thursday August 8, 2013 12:35 pm|
One of Wall Street’s Too Big To Fail banks is under criminal investigation for its practices in the mortgage market. JPMorgan Chase & Co. disclosed in a SEC filing that it was under criminal investigation and had already been notified by the Department of Justice’s civil division that it had violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007.
|By: masaccio Wednesday May 22, 2013 2:00 pm|
Institutional investors manage your retirement money. They just love sleazy bankers who deliver to the bottom line.
|By: masaccio Monday May 20, 2013 4:16 pm|
On May 21, shareholders of JPMorgan Chase will have the opportunity to express their views of the Chairman/CEO of the mega-bank, and PR people have been filling the inboxes of every possible media outlet. They even got to the New York Post which ran an Op-Ed by Charlie Gasparino on Dimon’s bad feeling about splitting the roles of Chairman of the Board and Chief Operating Office.
|By: Elliott Friday March 15, 2013 6:28 am|
This morning the Senate Homeland Permanent Subcommittee on Investigations investigates the $6.2 billion dollar trading loss JP Morgan Chase incurred when they “ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portfolio“.
|By: David Dayen Tuesday November 20, 2012 2:35 pm|
Continuing on the theme of prosecutions for fraud during the housing collapse, though in this case civil rather than criminal ones, New York Attorney General Eric Schneiderman just announced a new lawsuit against Credit Suisse for defrauding investors in its mortgage backed securities business. The case mirrors the previous suit filed by Schneiderman against JPMorgan Chase over Bear Stearns’ MBS business. Curiously, both of these banks engaged in settlements just this past weekwith the SEC over precisely the same conduct, settlements where they didn’t have to admit wrongdoing.
|By: David Dayen Saturday November 17, 2012 10:00 am|
In another in a long line of weak settlements where the perpetrators of fraud don’t have to technically say whether or not they’ve committed it, the Securities and Exchange Commission reached agreement with JPMorgan Chase and Credit Suisse on a collection of violations related to the handling of mortgage backed securities.
|By: David Dayen Sunday November 11, 2012 8:45 am|
Of all the thumbsuckers about the second-term Obama agenda I’ve read, the ones that reflect the least contact with reality concern Administration housing policy.
It’s beyond clear that the first-term policy framework sought to protect banks and allocate losses from the collapse of the housing bubble elsewhere. That was the point behind HAMP, designed to “foam the runway” for the banks, allowing them to squeeze out a few extra payments from borrowers and absorb foreclosures more slowly. That was the point behind the foreclosure fraud settlement, reacting to the largest consumer fraud in the history of the world by immunizing the conduct in exchange for a pittance of a fine. That was the point behind a financial fraud task force that turned up precious little financial fraud and sought criminal prosecutions of no individual.
|By: David Dayen Thursday November 1, 2012 5:58 am|
JPMorgan Chase has sued the former manager of Bruno Iskil, the “London Whale” who executed the “Fail Whale trades” that cost the company as much as $7 billion. Javier Martin-Artajo was the direct supervisor to Iskil in the Chief Investment Office in London.