JPMorgan’s Bigger Exposure Comes From a Euro Breakup

By: Monday June 25, 2012 11:11 am

According to the Financial Times, as of last week, JPMorgan Chase sold up to 70% of its position in the CDX.NA.IG.9 index, where the Fail Whale trades originated. I assume they are working on the remaining 30%, though CEO Jamie Dimon has said that the trades would “not be an issue by the end of [...]

Schumer on Apology Tour of Wall Street

By: Tuesday June 19, 2012 12:19 pm

I don’t think there was much reason to wonder about the relative toothlessness of the series of hearings with JPMorgan Chase CEO Jamie Dimon. The banks own the place, after all, and Dimon is a majority owner rather than a minority one. So while he got a bit more roughed up today, ultimately the hearings [...]

House Doing Better Job at Dimon Hearing

By: Tuesday June 19, 2012 10:03 am

The House of Representatives, in some cases on a bipartisan basis, is generally getting at the issue of JPMorgan Chase’s multi-billion dollar losses in today’s Financial Services Committee hearing with CEO Jamie Dimon. Clearly, Dimon is miffed by even having to be present for this questioning, an emotion he mostly didn’t have to show before [...]

Jamie Dimon’s Cufflinks and Why a Tighter Volcker Rule Is All We Can Hope For

By: Thursday June 14, 2012 10:55 am

So here’s me and William Cohan on yesterday’s The Alyona Show talking about that Jamie Dimon testimony yesterday. I have to admit a little shock at the focus of the coverage on the captured Congress and the relative soft pitches lobbed in Dimon’s direction. I’m wondering what people expected. This wasn’t the Senate Permanent Subcommittee [...]

Dimon’s Testimony Has Implications for Volcker Rule Implementation

By: Wednesday June 13, 2012 1:25 pm

I certainly recognize that the so-called “grilling” of JPMorgan Chase CEO Jamie Dimon today was more like a pillow fight, with more Senators asking Dimon’s opinion on things than trying to get to the bottom of what happened at the Chief Investment Office. I don’t know what people expected. For all intents and purposes, members [...]

Jamie Dimon Is Taking Your Phone Calls on Foreclosure Paperwork Problems

By: Wednesday June 13, 2012 12:06 pm

I should have added one thing to my reactions to Jamie Dimon’s testimony. First of all, a set of anti-foreclosure activists disrupted the hearing at the beginning, demanding Dimon to “stop foreclosures now!” As that wasn’t the point of the hearing, this went mostly unaddressed on the panel. But then unassuming Sen. Herb Kohl decided [...]

Reactions to Jamie Dimon’s Senate Banking Hearing: Admissions of Guilt Amid the Arrogance

By: Wednesday June 13, 2012 11:31 am

I don’t think it was too much of a surprise that today’s hearing with Jamie Dimon was something less than stringent. Very few Senators bothered to show up with anything more than a list of questions and a pallid expression. The very structure of the hearing, with one round of five minutes of questioning, wasn’t [...]

Liveblog: Jamie Dimon Appears Before Senate Banking Committee

By: Wednesday June 13, 2012 7:00 am

The Senate Banking Committee hearing with Jamie Dimon of JPMorgan Chase is scheduled to begin at this hour. A preview of today’s proceedings, including Jamie Dimon’s written testimony, is available here. You can watch the hearing on C-Span. I’ll add my comments below. …well, the hearing started with a bang. Foreclosure activists screamed at Jamie [...]

Dimon to Be Contrite Yet Steadfast in Senate Banking Testimony

By: Wednesday June 13, 2012 5:30 am

JPMorgan Chase CEO Jamie Dimon faces the Senate Banking Committee in a two-hour hearing scheduled for 10am ET today. He’ll be the only witness. Keep in mind that Dimon’s JPMorgan Chase has given millions to top-ranking members of the Banking Committee, so anything more than headline-grabbing and grandstanding without a real challenge to Dimon in [...]

Low Regulator Assertiveness Part of Problem With Mitigating Financial Risks

By: Tuesday June 12, 2012 9:14 am

Jamie Dimon testifies before the Senate Banking Committee tomorrow, and this Bloomberg report should be a nice template for the Senators questioning him. It alleges that he was personally responsible for keeping regulators at bay from the chief investment office, the one responsible for all the Fail Whale losses, which could reach past $5 billion [...]

Regulator Indifference Seen at JPMorgan Chase, Ally Financial

By: Saturday May 26, 2012 8:55 am

Housing Wire reports on bank attorneys preparing for “showdowns” with the RMBS working group on fraud cases. Well, they have to justify their billings to their bosses, don’t they? The reality of whether banks should sweat the investigation is far less clear. In fact, we have more information from a couple sources today that suggest [...]

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