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.
A blockbuster report that the SEC was investigating JPMorgan for its hiring practices in China lead to a big drop in the big bank’s stock price.
But it’s also facing more heat from the Justice Department for its pre-crisis actions.
JPMorgan Chase agreed with energy regulators today to settle accusations that it had manipulated energy markets from 2010 to 2012.
The announcement follows a week of congressional and media scrutiny of banks’ involvement in physical commodities.
While shareholder activists were not able to get CEO Jamie Dimon to give up his chairmanship, they almost got David Cote and Emily Futter kicked off the board of directors. The bank announced today that they will be leaving on their own.
In its earnings report for the second quarter, Goldman refused to put out a figure to show if it’s in compliance with a proposed capital rule. That didn’t stop analysts from asking about it over and over.
JPMorgan Chase reported $6.5 billion in net income for the second quarter, a 31% jump from a year before. But loans and profits from them are down, so where is the money coming from?
The affable JPMorgan CEO had some kind words for a generation of underemployed millennials.