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Topic - Jp Morgan
Two high-profile and high-up American bankers in London have killed themselves in separate incidents that took place within a couple days of each other.
A Los Angeles councilman proposed Wednesday that the nation's second-largest city consider ending tens of millions of dollars of financial ties with troubled JP Morgan Chase & Co.
The Department of Justice decided to go after Wall Street investment bank J.P. Morgan over the firm's role in America's recent economic woes. The result last week was a $13 billion settlement, which is the biggest shakedown of a single company in American history.
Writing a book that's boring yet also hair-raising is a feat. Susie J. Pak's "Gentlemen Bankers: The World of J.P. Morgan," full of charts, graphs and the dry prose of a doctoral thesis, studies the ways of the financial and industrial moguls who built their wealth at the dawn of modern American capitalism.
JPMorgan Chase, the country's largest bank, will pay almost $1 billion in fines and admit that it failed to rein-in loose trading practices that led to a $6 billion loss last year, U.S. and U.K. regulators said Thursday.
Investment-services firm J.P. Morgan blew $2 billion on bad trades, and the total damage could rise to $5 billion. Though the Obama administration wants you to think otherwise, this is proof the market works.
J.P. Morgan's announcement of a spectacular trading loss of $2 billion last week gives fuel to regulators who are inclined to slim down or at least stop the growth of such "too-big-to-fail" megabanks in the future, banking analysts say.
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
J.P. Morgan's $2 billion loss from betting on corporate bonds will embolden advocates of the Volcker Rule - a provision of the 2010 Dodd-Frank law that will prohibit banks from trading on their own account. Unfortunately for federal regulators, trading in securities is essential to modern banking, and busting up the big Wall Street financial houses may be the only way to better ensure financial stability.
A year after the enactment of a sweeping Wall Street reform law, evidence is growing that it failed in its main mission of ending taxpayer bailouts of global banks considered "too big to fail."
Shares of chipmakers Intel Corp., Advanced Micro Devices Inc. and Nvidia Corp. dropped Tuesday as analysts said demand for computers looks shaky heading into the all-important back-to-school season.