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
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
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
You probably knew that already.
An investigation into a trader whose risky bets cost JPMorgan Chase $6.2 billion has ended, but who, if anyone, will be held accountable remains an open question.
Once upon a time, at JP Morgan’s London-based internal hedge fund CIO unit, a legend was born. Bruno Iksil — better known as “The London Whale” or “Voldemort” or “He Who Must Not Be Named” — carved out his place in the annals of CDXShow More Summary
Financial Conduct Authority confirms case against former JP Morgan trader will not progress.
The U.K. Financial Conduct Authority has abandoned a proposed fine of about $1.5 million (1 million pounds) and an industry ban against the former JPMorgan Chase & Co. trader known as the London... To view the full story, click the title link.
JPMorgan & Chase CEO Jamie Dimon had a rough go of it during the London Whale scandal in 2012. One of the banks' traders had lost more than $6 billion after making enormous derivatives bets, and the bank got a bad reputation for its risky behavior in the wake of the financial crisis. Show More Summary
By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co officials including Chief Executive Officer Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the "London Whale" trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday. Show More Summary
JPMorgan won't face investors suits over London Whale; PE exec will be released from Uruguay prison; Ron Paul says run for your friggin lives; "Family-friendly water park slammed for hosting twerking contest"; and more.
When we recently described in detail the reason, or rather 70.3 trillion reasons, why Citigroup scrambled to make sure the swap push-out provision language remained in the Cronybus government funding bill, we made it clear that thatShow More Summary
If the bonds went south, JPMorgan would collect on the insurance. But if they didn’t, the bank would keep making premium payments.
Six years after the financial crisis, little has been done to squash the caricature of the dishonest banker. Given the London Whale debacle, the LIBOR fixing scandal, the massive currency-rigging scheme and other rogue traders, it's hard not to think something is still very rotten in the state of banking. Show More Summary
``Now, coming on the heels of the recent exposure of the Carmen Segarra tapes showing how the New York Fed tiptoes around its Wall Street charges, the Inspector General's revelation that three recommended examinations of JPMorgan's high...Show More Summary
Apologies about the break from posts for the past week plus. I just moved apartments, and that kept me from blogging. (Though around the same time I was moving we had some troubles with our sister blog, Triple Crisis, which … Continue reading ? The post Tuesday Links: London Whale, S.A.C. Capital, Jeff Madrick appeared first on Dollars & Sense Blog.
Jamie Dimon is currently both Chairman and CEO of JPMorgan Chase without a succession plan. You may also recall that prior to the London Whale debacle; JPMorgan Chase had no treasurer for several months. Lymph Nodes Involved In a letter to colleagues and shareholders excerpted below, Dimon announced: I have just been diagnosed with throat cancer. Show More Summary
The charity loses millions in rogue currency swap, just like the big boys.
Add JPMorgan & Chase Co. to the list of banks being sued by the City of Los Angeles, and add one more headache for the banking giant, which has been plagued with legal troubles, most of which emerged from the London Whale trading scandal. This lawsuit, like a handful of......
First it was JP Morgan's $6 billion 'London Whale' trading loss, then it was The Federal Reserve slapping Citi for inadequate structural controls. As of Monday morning, you can also add Bank of America's math mistake to that list ofShow More Summary