The first scapegoat is out, and contrary to expectations, no it was not Fabrice Tourre and Bruno Iksil: IRS ACTING COMMISSIONER HAS RESIGNED OBAMA SAYS IRS ACTING COMMISSIONER GAVE RESIGNATION TO LEW It is unclear as of this writing what the severance package, and how big the (tax-free of course) lifetime public pension will be. Show More Summary
NEW YORK (Reuters) - A bankruptcy judge on Wednesday gave creditors of Lehman Brothers the green light to subpoena former JPMorgan Chase & Co trader Bruno Iksil, the so-called "London Whale," in an $8.6 billion lawsuit against the bank, a Lehman spokeswoman said.
The name Christian Bittar is well-known to regular Zero Hedge readers. Recall from "Deep Into The Lieborgate Rabbit Hole: The Swiss Hedge Fund Link?": " just like in the case of Barclays (with Diamond), JPM (with Bruno Iksil), UBS (with Kweku) and Goldman (with Fabrice Tourre), there always is a scapegoat. Show More Summary
LONDON, Jan 16 (Reuters) - JPMorgan Chase & Co has reached an out-of-court settlement over its lawsuit against the former boss of Bruno Iksil, the trader known as the "London Whale" for huge bets he took that cost the bank $6.2 billion,...Show More Summary
It’s the trading mess that just won’t end. If we all didn’t know better, it would be easy to think that the “Whale” that has caused so much trouble for JPMorgan Chase & Co. (NYSE:JPM) and CEO Jamie Dimon was not named Bruno Iksil but Moby Dick. Bloomberg reported earlier this week that the JPMorgan [...]
I didn’t really understand this morning’s Journal headline – “Regulatory ‘Whale’ Hunt Advances” – since the whale in question, JPMorgan’s Bruno Iksil, has been caught, harpooned, killed, flensed, picked clean by sharks, and his skeleton mounted in the American Museum of Unfortunate Trades. Show More Summary
Javier Martin-Artajo, meet underside of bus. Martin-Artajo, a London-based former JPMorgan Chase executive who supervised Bruno "London Whale" Iksil in the bank's chief investment office, is being sued by his former employer for allegedly helping conceal the Whale's massive losses, which have amounted to at least $6 billion. The details ... More »
JPMorgan Chase is suing Javier Martin-Artajo, the manager who directly supervised Bruno Iksil, the so-called London Whale whose outsize positions prompted the bank's multi-billion dollar trading loss.
JP Morgan has filed a lawsuit against Javier Martin-Artajo, the man who directly supervised Bruno "the London Whale" Iksil, Bloomberg's Kit Chellel reports. This spring, JP Morgan found out that Iksil was the source of what came to be...Show More Summary
Lance Armstrong and Bruno Iksil may have something in common. A former Deutsche Bank and Goldman Sachs trader who is now a neuroscientist has come up with a theory he calls the "winner effect" - a hormonal mechanism that kicks in during...Show More Summary
The central figures in JP Morgan's $5.8 billion trading loss — Ina Drew, Bruno Iksil (The London Whale) and Iksil's boss, Achilles Macris — have been totally mum about the whole affair. That has only served to fuel speculation aboutShow More Summary
This sounds serious... JPMorgan found that credit trader Bruno Iksil (a.k.a the "London Whale") was encouraged by his boss to increase the values on some trades above where they would have sold in the market, the Wall Street Journal's...Show More Summary
Mattapoisett, MA -- I am heading out this week for the annual fishing trip to Leens Lodge in Grand Lake Stream, ME, with David Kotok of Cumberland Advisors and 50 of our friends. But first I want to reflect on the latest developments...Show More Summary
Since JPMorgan first disclosed that Bruno Iksil, a trader in its London office, had lost a whole bunch of money on a bad credit hedge, lots of intelligent people, from James Rickards to Paul Krugman to Simon Johnson, have made the case that Jamie Dimon will (or should) step down ... More »
According to various reports, Bruno Iksil and other traders—the perpetrators of a trading blunder that will cost JP Morgan as much as $5 billion—are no longer employed by the bank. WSJ reports that Achilles Macris, Javier Martin-Artajo...Show More Summary
Did Bruno Iksil make the bank -$2 billion? -$9 billion? -$20 billion? Was this all just a hoax and he actually didn’t lose any money at all? JPMorgan will let us know tomorrow at 7AM. Standard Price Is Right rules, closest without going over. Show More Summary
Say what you will about JPM's soon to be former employee (once the IG trade complex is fully unwound... sometime in 2013) Bruno Iksil, but you don't get to run up a several hundred billions notional CDS book (and blow it up) by being stupid. Show More Summary
In two weeks, JP Morgan will announce that its final losses from Bruno Iksil's, (the London Whale) devastating trade will come to a final total of $5 billion, the FT reports. We imagine this probably makes them feel like someone whoShow More Summary
Mr. Iksil [who sometimes wore the same clothing several days in a row] once confided to the colleague that when he wanted to avoid questions from supervisors about his trades, he sometimes would start discussing a mathematical term, equation or other technical jargon, to confuse and end the conversation. Show More Summary
Regulators are trying to clamp down on rogue traders like JPMorgan Chase's Bruno Iksil, nicknamed the London Whale, who amassed large positions in credit derivatives as part of a complex trading strategy that eventually soured.