Posts Tagged ‘Jamie Dimon’
Posted by Larry Doyle on September 26th, 2013 8:56 AM |
The rap sheet that has developed on JP Morgan over the last few years might have made John Gotti proud.
But remember, even though the Teflon Don escaped justice for a long time, ultimately the Feds caught up to him and he spent his last days listening to this.
Oh how the Don wishes he could have been a Wall Street banker rather than in the carting business and other organized activities. If so, he probably wishes he could be Jamie Dimon. Why so? (more…)
Tags: in bed with Wall Street, Jamie Dimon, JP Morgan fine, JP Morgan fine 11 billion, JP Morgan settlement, JPM fine, JPM settlement
Posted in General, Jamie Dimon, JP Morgan | 11 Comments »
Posted by Larry Doyle on June 28th, 2012 7:34 AM |
On May 10th, JP Morgan CEO announced that the bank faced a $2 billion loss on a hedge that had gone awry in its Chief Investment Office.
Many analysts and commentators discounted the fact that for an institution of JP Morgan’s size a surprising $2 billion loss, while significant, was not overly significant.
Perhaps they were right. If a $2 billion loss is insignificant, then what about an $8-9 billion loss. Significant yet? (more…)
Tags: how much derivatives loss has JP Morgan unwound, Jamie Dimon, JP Morgan, JP Morgan chief investment office loss, JP Morgan CIO loss, JP Morgan derivatives loss now $9 billion, JP Morgan hedge, JP Morgan London whale, JP Morgan loss of $9 billion, June 29 JP Morgan $9 billion loss, June 29 news on JP Morgan loss, news on JP Morgan derivatives loss
Posted in General, Jamie Dimon, JP Morgan | 4 Comments »
Posted by Larry Doyle on May 12th, 2012 7:32 AM |
What really happened at JP Morgan that a $2 billion loss could be racked up in supposedly the course of 6 weeks?
Little bit of octane in some of those positions, perhaps?
Did the brains within JP Morgan really know what they were doing? Did they make the same mistake as the brains at Long Term Capital Management in 1998? What mistake was that? (more…)
Tags: $2 billion loss at JP Morgan, Achilles Macris JP Morgan, Bruno Iksil JP Morgan Whale, CFTC oversight of credit derivatives, Doug Braunstein JP Morgan, Ina Drew JP Morgan CIO, It Is Alive Frankenstein, Jamie Dimon, John Hogan JP Morgan chief risk officer, JPM The Whale, lack of transparency in credit derivatives market, Long Term Capital vs JP Morgan, loss at JP Morgan, LTCM and JPM, quantitiatve trading on Wall Street, quants on wall street, regulation of credit derivatives, what caused the loss at JP Morgan, what happened at JP Morgan, what went wrong at JP Morgan, what went wrong at JPM
Posted in General, JP Morgan | 10 Comments »
Posted by Larry Doyle on May 11th, 2012 6:02 AM |
Less than a month ago, JP Morgan released very solid 1st quarter 2012 earnings and put out the following release:
New York, April 13, 2012 – JPMorgan Chase & Co. (NYSE: JPM) today reported first-quarter 2012 net income of $5.4 billion, compared with net income of $5.6 billion in the first quarter of 2011. Earnings per share were $1.31, compared with $1.28 in the first quarter of 2011.
Jamie Dimon, Chairman and Chief Executive Officer, commented on financial results: (more…)
Tags: Achilles Macris JP Morgan, Jamie Dimon, Jamie Dimon tempest in a teapot, JP Morgan announcement May 10 2012, JP Morgan Bruno Iksil, JP Morgan cio, JP Morgan loss May 2012, JP Morgan whale, JP Morgan whale Thar She Blows, thar she blows, the position controls the trader, trading loss at JP Morgan, what happened at JP Morgan
Posted in General, Jamie Dimon, JP Morgan | 18 Comments »
Posted by Larry Doyle on March 22nd, 2012 5:31 AM |
The penalties handed out by NFL Commissioner Roger Goodell to the coaches and executives of the New Orleans Saints organization for the bounty program practiced down on the bayou were perhaps the stiffest in the history of the game.
Goodell has shown himself to be a no-nonsense individual cut from the mold of Kenesaw Mountain Landis. Goodell is clearly focused on protecting the sport, and knows that any program which promotes an intent to injure renders modern day football to little more than barbarism. (more…)
Tags: Albert Loewenthal, Barack Obama, Ben Bernanke, Brian Moynihan, Chuck Schumer, Darrel Issa, Eric Holder, Greg Williams, James Gorman, Jamie Dimon, Jim Himes, Jon Corzine, Judge Kenesaw Mountain Landis, justice on Wall Street, Lloyd Blankfein, Mary Schapiro, New Orleans Saints, penalties for New Orleans Saints, penalties on Wall Street, Preet Bharara, Richard Blumenthal, Richard Ketchum, Robert Khuzami, Roger Goodell NFL Commissioner, Sean Payton, Spencer Bachus, the integrity of the game, Timothy Geithner
Posted in General | 2 Comments »
Posted by Larry Doyle on June 23rd, 2011 8:32 AM |
You do not need to read Sense on Cents to know that Wall Street and America have problems. That said, the future of both the financial services industry and our nation are inextricably linked.
The innovative ideas which our nation must generate to drive future growth and employment require capital. Wall Street has that capital. In my opinion, Wall Street needs to seriously refine the use of its capital for its own benefit and that of our nation.
Can Wall Street adapt? Does Wall Street understand the errors of its ways? When might some real leaders on Wall Street call out for the industry to clean up its act? These questions can only be properly addressed in the future if there is an acknowledgment and understanding of where and when did Wall Street go wrong in the past. Let’s navigate.
(more…)
Tags: black box trading on wall street, Brady Dougan, Brian Moynihan, declining volumes on Wall Street, do you trust your mechanic, failure of wall street leadership, failure of wall street management, failure of wall street regulation, failure to protect investors on wall street, financial services industry, impact of high frequency trading on equity volumes, its not a bug its a feature, James Gorman, Jamie Dimon, John Gapper, JP Morgan CDO settlement with SEC, lack of quality control on wall street, lack of transparency and opacity on wall street, Lloyd Blankfein, need for integrity on wall street, need for transparency on wall street, putting derivatives on exchanges, quants on wall street, regulation of CDS, regulation of derivatives market, Robert Wolf, selling risk on Wall Street, structured transactions on Wall Street, The Price of Wall Street's Black Box, the quants, Tom Montag, wall street developments since mid 1990s, Wall street fraud, wall street mechanics, wall street over the last fifteen years, Wall Street sales, when did wall street go wrong, where and when did wall street go wrong, where did wall street go wrong
Posted in General, Wall Street | 2 Comments »
Posted by Larry Doyle on April 18th, 2011 8:29 AM |
Is the need to repair the health of our financial system SO GREAT, that we should be willing to allow the basic rights of individuals and the laws of our land to be trampled and violated in the process? In my opinion, this very question is central to the rage that burns in so many hearts across our great land.
Bailing out banks may be anathema to those who love and cherish capitalism BUT not pursuing justice and real accountability for the transgressions of those individuals and those institutions central to our crisis is sickening. I believe it is inherently un-American to allow these transgressions to pass without proper prosecution. Which transgressions? (more…)
Tags: accountability on Wall Street, Anderson Cooper interview with Matt Taibbi, Auction Rate Securities, bank bailouts, Brian Moynihan, Chrysler creditors, CNN interview with Eliot Spitzer, did Wall Street violate the racketeering act, Eliot Spitzer interview with Anderson Cooper, James Gorman, Jamie Dimon, justice on Wall Street, Lloyd Blankfein, mortgage foreclosure abuse, mortgage originations, prosecutions on Wall Street, regulatory capture, repairing Wall Street, RICO Act, Rolling Stone's Matt Taibbi, transgressions on Wall Street, violating rights of individuals, Wall Street-Washington incest
Posted in General | 5 Comments »
Posted by Larry Doyle on February 28th, 2011 5:28 AM |
Charles Ferguson
“Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong.”
With those words last evening, Charles Ferguson, the winner of the Academy Award for Best Documentary for his film Inside Job, did a lot more than merely begin an acceptance speech. Ferguson touched the third rail and made a political statement. But did he really? Really? Not in my opinion. Ferguson spoke the truth.
When did the mere voicing of the truth become political? Perhaps in America 2011 those who speak the truth actually stand out because we hear so little of the prized virtue. That reality is a sad commentary on our society.
I commend Ferguson. Backstage he had even more to say. (more…)
Tags: Academy Awards February 27 2011, Alan Greenspan, Barack Obama, Ben Bernanke, Brady Dougan, Brian Moynihan, CFTC chair Gary Gensler, Charles ferguson acceptance speech, Christopher Cox, Ferguson statement, financial crisis financial fraud, Financial Meltdown Documentary Wins Oscar, Henry Paulson, Inside Job, James Gorman, Jamie Dimon, Larry Doyle, Lloyd Blankfein, Oscar winner Charles Ferguson, Richard Ketchum, SEC Chair mary Schapiro, Sense on Cents, Timothy Geithner, what is regulatory capture, who is Charles Ferguson, winner Best Documentary
Posted in General | 14 Comments »
Posted by Larry Doyle on February 4th, 2011 8:33 AM |
Just the facts.
A week ago at The World Economic Forum in Davos, Switzerland, Jamie Dimon, chief of JP Morgan, railed on the widespread vilification of bankers by the general public. The Wall Street Journal highlighted Dimon’s comment in writing, A Banker’s Plaintive Wail:
“A plaintive cry from one of the world’s top bankers on behalf of his industry pierced through an otherwise tame Thursday morning panel discussion here in Davos:
“I don’t lump all media together,” said Jamie Dimon, chief executive of J.P. Morgan Chase & Co. “There’s good and there’s bad. There’s irresponsible and ignorant and there’s really smart media. Well, not all bankers are the same. And I just think this constant refrain ‘bankers, bankers, bankers,’ — it’s just a really unproductive and unfair way of treating people. And I just think people should just stop doing that.”
Mr. Dimon argued that J.P. Morgan was one of the good banks..
On one hand, I agree with him. I have worked with many fabulous bankers throughout my career and count many of them as close personal friends. None of them actually run a major banking organization.
If Mr. Dimon wants to be distinguished as ‘one of the good guys’ and JP Morgan as ‘one of the good banks,’ he now has his opportunity to ‘put up or shut up.’ How so? Let’s reenter the world of Bernie Madoff. (more…)
Tags: A Banker's Plaintive Wail, Bernie Madoff, did JPM aid and abet Bernie Madoff, Dragnet, hush money, Irving Picard suit vs JPM, is JP Morgan complicit in Madoff, Jamie Dimon, Joe Friday, JP Morgan, JP Morgan and Bernie Madoff, JPM, lawsuit against JP Morgan in Bernie Madoff, Madoff coverup, Madoff scam, picard lawsuit vs JP Morgan, put up or shut up, what did they know when did they know it
Posted in General | 10 Comments »
Posted by Larry Doyle on July 19th, 2010 10:08 AM |
Bank CEOs tend to choose their words very carefully. On one hand, these senior executives do not want to appear overly optimistic and send a message to the marketplace that may be viewed as overly pumping their business and, in turn, their stock valuation. Similarly, the leaders of our financial institutions are never inclined to be excessively pessimistic thereby scaring clients, investors, and consumers. What is the result? Typically, we hear bank executives try a slightly upbeat but evasive enough script in which we truly need to look through the message to get the real meaning.
How often did we hear from bank executives throughout 2008 and 2009 that our economy had seen the worst and was turning the corner? I referenced this style and these comments from Wall Street titans in my commentary from November 12, 2008, The Wall Street Model Is Broken…and Won’t Soon be Fixed! I wrote: (more…)
Tags: consumer trends, Jamie Dimon, jamie Dimon comment on the american consumer, Jamie Dimon on the health of the consumer, Jamie Dimon on trend of the American consumer
Posted in General | No Comments »
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Jamie Dimon: “Too Early to Say…”
Posted by Larry Doyle on July 19th, 2010 10:08 AM |
Bank CEOs tend to choose their words very carefully. On one hand, these senior executives do not want to appear overly optimistic and send a message to the marketplace that may be viewed as overly pumping their business and, in turn, their stock valuation. Similarly, the leaders of our financial institutions are never inclined to be excessively pessimistic thereby scaring clients, investors, and consumers. What is the result? Typically, we hear bank executives try a slightly upbeat but evasive enough script in which we truly need to look through the message to get the real meaning.
How often did we hear from bank executives throughout 2008 and 2009 that our economy had seen the worst and was turning the corner? I referenced this style and these comments from Wall Street titans in my commentary from November 12, 2008, The Wall Street Model Is Broken…and Won’t Soon be Fixed! I wrote: (more…)
Tags: consumer trends, Jamie Dimon, jamie Dimon comment on the american consumer, Jamie Dimon on the health of the consumer, Jamie Dimon on trend of the American consumer
Posted in General | No Comments »