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
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
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
LONDON — The Thames has seen some unusual river traffic over the years, from a giant Michael Jackson statue to a confused whale, a stern-faced Queen peering out at the rain among a thousand other boats and David Beckham in a speedboat,...Show More Summary
Pippa Middleton keeps it business casual while running errands on Tuesday (April 14) in London, England. The 31-year-old sister of the Duchess of Cambridge is getting some backlash from her column in the Daily Telegraph where she opened up about eating smoked whale carpaccio during a recent trip to Norway. “Pippa is not known for [...]
TOKYO/LONDON (Reuters) - Japan on Monday said it hoped to resume its Antarctic whale hunt around the end of this year, after providing further information to win over an international panel that says its whaling plan does not prove the need for killing the animals.
In 1841, in the early days of paleontology, the notoriously cantankerous anatomist Richard Owen, the man who would later coin the term “dinosaur,” stood before his colleagues at the Geological Society of London to announce the discovery of an enormous extinct reptile. Show More Summary
'It's your turn now.'Ink on watercolour paper, 202 x 100mm. Scarcely had I mentioned how well Sophie the Stegosaurus complemented the presence of the beloved Diplodocus at their respective entrances to London's Natural History Museum...Show More Summary
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.
NASA, ESA, and the Hubble Heritage Team (STScI/AURA) "There is so much we don't know!" said Dick Vane-Wright, the Keeper of Entomology at the London Museum of Natural History when author Sharman Apt Russell was asking about butterflies. Show More Summary
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
LONDON — Essex authorities are steering to safety a pod of 40 whales that had moved into shallow water off the coast The pod, which includes some young whales, got into trouble earlier this week during ebb tide, the time between high...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.