Report: JPMorgan trading losses may reach $9B

http://news.yahoo.com/report-jpmorgan-trading-losses-may-reach-9b-105948764–finance.html Associated Press – 8 hrs ago NEW YORK (AP) — Shares of JPMorgan Chase & Co. tumbled Thursday as a published report said that the bank’s losses on a bad trade may reach as much as $9 billion — far higher than the estimated $2 billion loss disclosed last month. In May, JPMorgan said the loss […]

Banking giants see credit rating downgrade on terrible day for Dow as market plunges 2%

http://www.dailymail.co.uk/news/article-2162994/Banking-giants-credit-rating-downgrade-terrible-day-Dow-market-plunges-2.html By Daily Mail Reporter PUBLISHED: 19:12 EST, 21 June 2012 | UPDATED: 19:12 EST, 21 June 2012 The economy was hit with a double whammy of bad news on Thursday as the stock market plunged on the day that 15 major banks had their credit ratings downgraded. Moody’s cut the ratings of global lenders […]

‘Voldemort’ hedge fund disaster could hit JP Morgan for £4bn in one of Square Mile’s worst trading catastrophes

http://www.dailymail.co.uk/news/article-2147717/Voldemort-hedge-fund-disaster-hit-JP-Morgan-4bn.html By Ruth Sutherland PUBLISHED: 13:48 EST, 21 May 2012 | UPDATED: 19:26 EST, 21 May 2012 British losses at the JP Morgan bank could double initial estimates and top £4billion – making it one of the worst trading catastrophes ever to hit the Square Mile. The warning came as details emerged of bitter rows […]

Obama: JPMorgan Is ‘One of the Best-Managed Banks’

http://news.yahoo.com/obama-jpmorgan-one-best-managed-banks-214359921–abc-news-politics.html By Mary Bruce | ABC OTUS News – 9 hrs ago Lou Rocco / ABC News Just hours after a top JPMorgan Chase executive retired in the wake of a stunning $2 billion trading loss, President Obama told the hosts of ABC’s “The View” that the bank’s risky bets exemplified the need for Wall Street reform. […]

CEO of JPMorgan admits he was ‘dead wrong’ in the wake of bank’s $2 BILLION trading loss

http://www.dailymail.co.uk/news/article-2143851/CEO-JPMorgan-admits-dead-wrong-wake-banks-2-BILLION-trading-loss.html By Associated Press PUBLISHED: 13:12 EST, 13 May 2012 | UPDATED: 13:13 EST, 13 May 2012 The CEO of JPMorgan Chase, which disclosed a $2 billion loss last week, said he was ‘dead wrong’ when he dismissed concerns about the bank’s trading last month. CEO Jamie Dimon said he did not know the extent […]

Boss of Voldermort trader who lost $2bn at JP Morgan earns $14m a year as credit agencies give bank bleak outlook

http://www.dailymail.co.uk/news/article-2142866/JPMorgan-Chase-trader-Bruno-Michel-Iksil-thought-2bn-loss.html Ina Drew oversaw JP Morgan office where huge losses were made French-born, British-based Bruno Michel Iksil believed to be responsible Dubbed the ‘London Whale’, be bragged ‘he could walk on water’ Believed to be part of Chief Investment Office at heart of bank’s losses $14billion wiped from JP Morgan’s value after shares slump 9.3 […]

Revealed: London trader known as ‘Voldemort’ who is suspected of blowing bank’s staggering $2billion loss

http://www.dailymail.co.uk/news/article-2142866/JPMorgan-Chase-trader-Bruno-Michel-Iksil-thought-2bn-loss.html French-born, British-based Bruno Michel Iksil believed to be responsible Dubbed the ‘London Whale’, be bragged ‘he could walk on water’ Believed to be part of Chief Investment Office at heart of bank’s losses Ina Drew, boss of CIO, was paid $14million last year Shares in British banks fall: Barclays, RBS and Lloyds all hit […]