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 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.
Not that I’m obsessed with Ms Klein, but consider this passage from her Said Lecture as published in the London Review of Books:....the thing about fossil fuels is that they are so inherently dirty and toxic that they require sacrificial...Show More Summary
LONDON — Brace yourselves for this one — it isn't for the faint-hearted. SEE ALSO: Blue whale interrupts BBC presenter's moan about fruitless whale search On Thursday evening, BBC Earth tweeted the following, slightly unexpected gif. Yep, that is a pearlfish worming its way up the rear-end of a sea cucumber. Show More Summary
In street art form.
A video which seems to show a 'strange creature' in the Thames has divided the internet over whether it is a whale, a submarine or the Loch Ness Monster.The YouTube clip, taken from the Emirates Air Line cable car, shows a long dark shape which appears to have two humps emerging from the river. Show More Summary
Some say the Loch Ness Monster has moved to England.
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
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.
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.
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
FCA finds bank executive failed to give accurate information on worsening credit portfolio.
Including a pop-up whale skeleton and casual sexism.
LONDON, Feb 5 (Reuters) - A sixth sperm whale has died on a British beach, the latest of nearly 30 to have become stranded in shallow waters on the coastline of Europe's North Sea over the past month. As marine pathologists cut samples...Show More Summary
Go wild for whales or get dancing at Resolution.
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.
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
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
It is a cold, mid-November evening. Twenty-two people stand squeezed into lifejackets and brightly-coloured waterproofs; 11 kayaks float silently, waiting for us like a pod of whales upon the glassy surface of Limehouse Basin. The cloudy night sky shows no stars, but the rain, at least, stopped sometime earlier. Show More Summary
LONDON — When it comes to awkward on-screen moments, live television is the gift that keeps on giving. Usually it's the presenter making the gaffe — whether it's an anchor caught on camera brushing their hair, a blue whale embarrassing...Show More Summary