“Dimon, who has been chief executive officer of JPMorgan since 2006, has a reputation as a savvy political player, and the bank’s lobbying expenditures have increased under his leadership.”
The American Banker has a long article today (see below) about JPMorgan’s ties to politicians serving on the [...]
JP Morgan’s CEO Jamie Dimon announced a few weeks ago that the bank may take a loss as high as $2B on a trading position established by a London traded dubbed “the whale”. Now, some estimates are as high as $6B and some people are saying that Dimon will have to step down. If this [...]
UPDATE May 11, 2012 JPM’s long-term issuer default rating was cut by Fitch to A+ from AA-.
JPMorgan Chase & Co. (JPM) said it lost about $2 billion tied to synthetic credit securities after positions taken by its chief investment office were riskier than expected.
“This portfolio has proven to be riskier, more volatile and less effective as [...]