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2:00PM Water Cooler 6/21/2017

Today's Water Cooler: Dems deploy Blame Cannons for Ossoff loss, Kalanick defenestrated, London Whale, housing, shipping/retail concentration

The Real “London Whale” Has Been Revealed – but He’s Already Gotten Away with It

Millions of traders lost serious money after the "London Whale" lost JPMorgan Chase & Co. billions in 2012. But now, the trader has finally broken his five-year-long silence. The post The Real “London Whale” Has Been Revealed – but He’s Already Gotten Away with It was originally published at The Wall Street Examiner. Follow the money!

The London Whale Guy Would Like To Have A Few Hundred Thousand Words With Jamie Dimon

Bruno Iksil has penned a novel-length denunciation of JPMorgan that alleges...something.

From the London Whale to Wells Fargo, a Bank Regulator Looks Back

The outgoing comptroller of the currency, Thomas J. Curry, is known for overhauling the federal agency and its approach to bank regulation.

Opening Bell: 3.7.17

The London Whale tells his story; hedge funds step back from the edge; Americans are boning less; and more.

The 'London Whale' trader who made a $6.2 billion trading loss says he'd welcome a lawsuit to 'retrieve' his 'stolen' life

LONDON — Bruno Iksil, the trader dubbed "The London Whale" for his massive trading losses, says he would welcome a lawsuit so he can finally clear his name. Iksil was at the centre of the $6.2 billion (£4.3 billion) JPMorgan trading loss in 2012 when massive derivatives bets he made went sour. Show More Summary

How To Avoid Getting Arrested When Mismarking Your Month-End Bond Book

Mismarking one's book, especially in illiquid, OTC securities usually for month-end, P&L purposes is nothing new. We noted it several years ago in the case of the JPM London Whale where, as we reported back in May 2012, JPM's CIO unit...Show More Summary

CalPERS Uses Unqualified “Expert” to Validate Its London-Whale-Style Deficient Risk Management

CalPERS tells its board that the very same lax risk management oversight structure that led to the London Whale fiasco is "best practice" when it clearly isn't.

London Whale Blasts JPMorgan Management: "For No Good Reason I Was Singled Out"

Usually, when TBTFs get caught doing something either illegal or just plain stupid, no actual humans are penalized. What typically happens is there’s a yearslong investigation during which the handful of regulators and politicians whose...Show More Summary

Opening Bell: 2.23.16

Bruno Iksil "objects to London whale nickname"; Yahoo attempts to fend off activist investor; Zenefits tells employees "Do not use the stairwells to smoke, drink, eat, or have sex"; and more.

Ex-JPMorgan Executive Fined $1.1 Million in ‘London Whale’ Case

A British regulator said the man had failed to report concerns about a portfolio in 2012, when a bad bet cost the bank $6.2 billion.

The boss of the 'London Whale' trader just got fined nearly £800,000

Britain's Financial Conduct Authority has fined the boss of the so-called "London Whale" trader nearly £800,000 ($1.15 million) for failing to communicate properly with the regulator. Former JP Morgan executive Achilles Macris — whoShow More Summary

Jamie Dimon, 10 years on, is hard bank CEO to beat

Looking back on a decade running JPMorgan, the boss has had missteps like the London Whale, big legal fines and clashes with regulators. Yet Dimon has fashioned a bank with leading market share, top-tier returns and a head start in fintech. It’s well placed for the next 10 years.

JPMorgan to pay $150 million in 'London Whale' U.S. class action

NEW YORK (Reuters) - JPMorgan Chase & Co has agreed to pay $150 million to resolve a securities fraud lawsuit by investors suing the bank over its "London Whale" trading scandal, which caused a $6.2 billion loss. The settlement was disclosed...Show More Summary

JPMorgan defeats London Whale shareholder lawsuit in U.S

By Jonathan Stempel NEW YORK (Reuters) - A federal appeals court said JPMorgan Chase & Co Chief Executive Jamie Dimon and other bank officials need not face a shareholder lawsuit claiming they did a bad job investigating the 2012 "London Whale" trading scandal that caused $6.2 billion of losses. Show More Summary

Ex-JPMorgan traders, citing arrest risk, avoid SEC deposition in N.Y

By Nate Raymond NEW YORK (Reuters) - Two former JPMorgan Chase & Co traders living abroad who face U.S. charges over the bank's $6.2 billion "London Whale" scandal won a bid on Wednesday to avoid sitting for a deposition in New York, where their lawyers say their arrest is likely. Show More Summary

JPMorgan ordered to face London Whale class action in U.S

By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co shareholders on Tuesday won court permission to pursue their securities fraud lawsuit against the bank over the "London Whale" trading scandal, which caused a $6.2 billion loss, as a class action. Show More Summary

"It's Laughable Really": Why No One, Especially Not Jamie Dimon, Will Be Held Accountable For London Whale

A few weeks back, Bruno Iksil, the man whose name shall live in CDX trading infamy and whose nicknames will forever haunt the desks at JP Morgan’s taxpayer-sponsored, London-based hedge fund (known in polite circles as "CIO"), got a break when the UK’s financial watchdog dropped its investigation saying it didn’t have a strong enough case. Show More Summary

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