Jpmorgan Chase

When the head of JPMorgan Chase met with shareholders to answer for a trading loss of more than $2 billion Tuesday, it was against an evolving political backdrop: Donors from big banks are betting on Mitt Romney to defeat President Obama and repeal new restraints on risky, large-scale investments. "There's no doubt that there's been a big diminution of support for the president," said William M. Daley, Obama's former chief of staff and a former top JPMorgan Chase executive. "People in the financial services sector are saying, ‘The president has been too tough on us, both in policy and on...

WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee Tuesday that the agency is examining JPMorgan's earnings statements and first-quarter financial reports to determine if they were ‘‘accurate and truthful. " Schapiro and Gary Gensler, chairman of the Commodity Futures Trading Commission, said the $2 billion-plus loss at JPMorgan should be a...

When the head of JPMorgan Chase met with shareholders to answer for a trading loss of more than $2 billion Tuesday, it was against an evolving political backdrop: Donors from big banks are betting on Mitt Romney to defeat President Obama and repeal new restraints on risky, large-scale investments. "There's no doubt that there's been a big diminution of support for the president," said William M. Daley, Obama's former chief of staff and a former top JPMorgan Chase executive. "People in the financial services sector are saying, ‘The president has been too tough on us, both in policy and...

WASHINGTON — The head of the Commodity Futures Trading Commission says the agency has begun an investigation into JPMorgan Chase's bet on complex financial instruments that led to more than $2 billion in trading losses. Chairman Gary Gensler said Monday that the investigation is ‘‘related to credit derivatives products as traded by the chief investment office of JPMorgan Chase. " He declined to give any details. Ina Drew, who oversaw the trading group responsible for the loss, left JPMorgan last week.

One woman took the fall for Jamie Dimon, the CEO of JPMorgan Chase. Another woman — Elizabeth Warren, the Democrat running for US Senate in Massachusetts — is calling for him to resign from the New York Fed. So far, the power guys are sticking with Dimon. Appearing on "The View," President Obama called JPMorgan Chase "one of the best-managed banks there is" and said Dimon "is one of the smartest bankers we've got. " While the FBI investigates potential criminal wrongdoing at JPMorgan Chase in the wake of a complex $2 billion trade loss, the so-sorry Dimon...

JPMorgan Chase faces intense criticism for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk. More than three years after the financial industry almost collapsed, the colossal misfire was cited as proof that big banks still do not understand the threats posed by their own speculation. "It just shows they can't manage risk — and if JPMorgan can't, no one can," Simon Johnson, the former chief economist for the International Monetary Fund, said Friday.

President Obama's total assets in 2011 were as high as $8.3 million in 2011, according to an annual financial disclosure filing released by the White House Tuesday. Much of the president's wealth is in the form of US Treasury bills and notes, which total between $1.6 million and $6.25 million. Federal law requires high-ranking government officials to report their financial interests to the Office of Government Ethics, but the officials must only provide income and asset ranges.

If hypocrisy had a face, a look, a certain familiar strut, it would be that of old favorite Curt Schilling as he pushed his way through a swirling collection of reporters and photographers in Providence this week with absolutely nothing of consequence to say. Curt Schilling, mute, the one time he actually owed an explanation. Perfect. But that's a minor point, really. There's a larger hypocrisy in his failing video game venture, the one that Rhode Island state officials giddily backed to the tune of $75 million in loan guarantees, which seems to be a fancy...

JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money. The company's stock plunged almost 7 percent in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well. "The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought," CEO Jamie Dimon told reporters.

Democratic US Senate candidate Elizabeth Warren criticized JPMorgan Chase for a $2 billion loss by one of its trading groups and continued to call for strong financial regulation at an appearance in Boston Friday. "We live in a world today in which we're trying to recover from the worst financial crisis since the Great Depression and yet we learn today that JPMorgan Chase is engaging in the kinds of transactions that have lost $2 billion. But here's the key: at the same moment, it has been rigorously lobbying to cut the legs out from underneath the...

NEW YORK — JPMorgan Chase is suspending plans to buy back its own stock, a little more than a week after the bank posted a large trading loss. The largest US bank by assets disclosed the $2 billion trading loss on May 10 in a hastily-called conference call with investors and journalists. The loss from an ill-timed trade on so-called credit derivatives has rattled investor confidence in JPMorgan Chase, leading to a 20 percent decline in the value of the stock since the disclosure, lopping off $30 billion of market value.

Jamie Dimon, the chief executive of JPMorgan Chase, blamed "errors, sloppiness, and bad judgment" for the loss of $2 billion in bank funds (" JPMorgan says it lost $2 billion in trading ," Business, May 11). The announcement unsettled the stock markets and demonstrated once again the utter helplessness of American taxpayers in the face of bank and corporate excesses. In the recent past these excesses have cost our economy dearly, and could do so again at any time in the future.

One woman took the fall for Jamie Dimon, the CEO of JPMorgan Chase. Another woman — Elizabeth Warren, the Democrat running for US Senate in Massachusetts — is calling for him to resign from the New York Fed. So far, the power guys are sticking with Dimon. Appearing on "The View," President Obama called JPMorgan Chase "one of the best-managed banks there is" and said Dimon "is one of the smartest bankers we've got. " While the FBI investigates potential criminal wrongdoing at JPMorgan Chase in the wake of a complex $2 billion trade loss, the so-sorry Dimon...

The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank's initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorgan's chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan's distress, fueling faster deterioration in the underlying credit market positions held by the bank.

Investors and federal investigators turned up the heat on JPMorgan Chase on Tuesday, as shareholders called for pay givebacks from executives responsible for a stunning $2 billion trading loss and the Federal Bureau of Investigation opened a preliminary review of the debacle. The FBI case will examine potential criminal wrongdoing at JPMorgan, according to people briefed on the matter, representing the most serious inquiry to stem from the losses. The investigation, which is being led by the FBI's New York office, will in part scrutinize JPMorgan's accounting practices and public disclosures...

A key House Republican says the $2 billion trading loss at JPMorgan Chase raises critical questions about how banks control their risks. But Republican lawmakers rejected calls from Democrats for stricter regulation. Rep. Shelley Moore Capito, R-W.Va., chairman of the House Financial Services subcommittee, noted the loss during a hearing about how best to regulate banks big enough to bring down the broader financial system. Lawmakers said a firm's character should count when regulators determine if they are "systemically important financial institutions.

WASHINGTON - JPMorgan Chase has agreed to pay a $20 million fine to settle federal regulators' civil charges of illegally handling customer funds that failed Lehman Brothers had deposited with the bank. The Commodity Futures Trading Commission revealed the settlement Wednesday. It involved JPMorgan's handling of customer funds from November 2006 to September 2008 when Lehman collapsed. Lehman's futures brokerage firm, LBI, deposited its customers' funds with JPMorgan. The CFTC said JPMorgan extended too much credit to LBI on a daily basis for its own trades because the bank included customer...

When the head of JPMorgan Chase met with shareholders to answer for a trading loss of more than $2 billion Tuesday, it was against an evolving political backdrop: Donors from big banks are betting on Mitt Romney to defeat President Obama and repeal new restraints on risky, large-scale investments. "There's no doubt that there's been a big diminution of support for the president," said William M. Daley, Obama's former chief of staff and a former top JPMorgan Chase executive. "People in the financial services sector are saying, ‘The president has been too tough on us, both in policy and on...