The country’s largest bank had almost $25 billion in revenues and almost $500 million in legal expenses in the first quarter. The bank’s chief financial officer said it hoped to resolve the Justice Department’s investigation into its foreign exchange trading practices “in the coming weeks.”
Dimon was diagnosed with throat cancer over the summer and had a much-reduced work schedule while going through treatment.
In July, the Wall Street CEO said he had been diagnosed with throat cancer. “It knocks the hell out of you,” he said today, discussing his weeks of radiation and chemotherapy.
But the bank is still paying an extra $1 billion for legal expenses.
The Treasury Department is trying to stem the tide of deals that take U.S. companies overseas for tax purposes.
The Chinese e-commerce company is bigger than a lot of S&P 500 companies. Do you know which ones?
With volatilty at record lows and fixed income revenue dropping across Wall Street, bank executives say there may be some light at the end of the tunnel.
But they don’t like them that much, either.
Come on, the CEO of JPMorgan did not just join Twitter.
The history of SACO 2006-8, as told through court documents dating back more than six years, provides a view into how the mortgage-backed security industry was built up and spectacularly collapsed. For JPMorgan, it has become the mortgage-backed security from hell.
Despite declines in revenues from mortgages and trading, the largest bank in the country beat out analysts’ expectations with $6 billion in profits. In his first public comments since being diagnosed with throat cancer, CEO Jamie Dimon said he was “feeling great.”
Dimon says his prognosis is “excellent, the cancer was caught quickly, and my condition is curable.”
The bank’s chief financial officer said that stock and bond trading revenues are expected to drop by up to a quarter. “We kind of have the market that we’ve got. I wish I had a better answer.”
Despite over $20 billion in payouts to settle legal and regulatory matters, JPMorgan’s CEO has convinced his shareholders not to press for any big changes.
Here’s a roundup of comments made by executives at some of the world’s largest trading firms and asset managers about Flash Boys.
JPMorgan Chase reported a $5.3 billion profit and $23.9 billion in revenue, both missing analysts’ expectatations.
Yet another senior JPMorgan executive — and a once-potential successor to Jamie Dimon — departs.
“If regulators are even slightly willing to take a large financial institution to trial, that will have an impact on future behavior,” Warren said.
Echoing the divide among sources, one says it is “hard to justify,” while another says it is “not surprising.”
An $8.5 million raise from the year before, despite over $22 billion in fines, penalties, and compensation from the bank in 2013.
But they have to be a bit less open.
#AskJPM indeed. Update - 7:05 PM ET: JPMorgan cancelled.
$4 billion of it goes to end the Federal Housing Finance Agency’s 2011 suit against the bank. And another $9 billion is expected.
In 2008, the deal was smart and cheap. Now, it is a reluctant favor done at the behest of the federal government that the bank wouldn’t repeat. And it doesn’t much like the Washington Mutual acquisition either.
JPMorgan scooped up Bear Stearns and Washington Mutual at fire-sale prices in 2008 and is now paying the price.
According to Worth magazine.
The big losers: shareholders and employees.
Huge legal costs do what the financial crisis couldn’t.
“We have accepted responsibility and acknowledged our mistakes from the start, and we have learned from them and worked to fix them,” JPMorgan CEO Jamie Dimon said.
Don’t take notes on a criminal f-cking conspiracy.