More Evidence of Lax Oversight of JP Morgan Chief Investment Office
As reporters keep digging into the "London Whale" story, the picture that emerges about the caliber of risk controls and management supervision at JP Morgan only look worse and worse.
Michael Crimmins: Why the Cops Should be Knocking on Jamie Dimon’s Door Soon
By Michael Crimmins, who has worked on risk management and Sarbanes Oxley compliance for major banks
The scandal surrounding JP Morgan's losses in its Chief Investment Office is not going away, and for good reason. Its trading book continues to lose money at an astounding rate. The most recent report estimates that the losses have...
Mirabile Dictu! The SEC Finally Investigates Magnetar
More than four years after Serena Ng and Carrick Mollencamp of the Wall Street Journal first took notice of the highly destructive ways of the Chicago hedge fund Magnetar, which created a series of toxic CDOs, the SEC finally appears to be taking a serious look at some of their deals.
Abigail Field: Jamie Dimon’s Hedge Fund
By Abigail Caplovitz Field, a freelance writer and attorney. Cross posted from Reality Check
Jamie Dimon, John Stumpf, and to a lesser extent, Vikram Pandit and Bryan Moynihan, are running massive hedge funds. They're placing enormous, incredibly risky bets.
So Much for Schneiderman Being Tough on Wall Street
As regular readers no doubt recall, Eric Schneiderman abandoned the dissident state attorney general effort to get a better mortgage settlement, assuring the Administration a win on this sellout to the banks. The bright shiny prize Schneiderman got in return for his betrayal was serving as one of five co-chairmen on a Federal mortgage task...
“What Scares Me Isn’t $2 Billion Loss JP Morgan Made, What Scares Me is the Record $19 Billion in Profits”
Even with all the focus on JP Morgan's loss bomb in the past few days, some critical elements of the story have not gotten the scrutiny they deserve, and Amar Bhide fills those gaps.
Satyajit Das: Topiary Lessons – JP Morgan’s US $2 Billion Loss
By Satyajit Das, derivatives expert and the author of Extreme Money: The Masters of the Universe and the Cult of Risk Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives – Revised Edition (2006 and 2010). Jointly posted with Roubini Global Economics
Having benefitted from risk management failures of others such...
Europe’s Black Cygnets Grow
By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from <a href="http://www.macrobusiness.com.au/2012/04/europes-lunatics-rise/">MacroBusiness.
And so the black cygnets scuttle from the shadows again. Over the weekend, Angela Merkel’s Christian Democrats suffered an...Michael Olenick: WhaleMu – JP Morgan’s Next Surprise?
By Michael Olenick, creator of FindtheFraud, a crowd sourced foreclosure document review system (still in alpha). You can follow him on Twitter at @michael_olenick or read his blog, Seeing Through Data
In an admittedly strange twist of timing JP Morgan, the same JP Morgan that just announced a surprise $2 billion loss...
