Banking

6:25am

Wed October 24, 2012
Planet Money

Ask A Banker: Derivatives, Gambling And Getting Around Regulation

Originally published on Wed October 24, 2012 6:29 am

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Hi! I am still here. I was once a banker and now I write for Dealbreaker and answer your questions about banking and whatnot. You can send questions to planetmoney@npr.org with "ask a banker" in the subject line, or ask on Twitter (@planetmoney).

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2:49pm

Wed October 10, 2012
The Two-Way

JPMorgan Chase CEO: 'I Should Have Caught' $5.8 Billion Error

JP Morgan Chase CEO Jamie Dimon, wearing a dark suit possibly made of sackcloth, didn't hold back when discussing the derivative trades that led to massive losses for his company.

"We made a stupid error," he said before a lunchtime audience at the Council on Foreign Relations in Washington on Wednesday. "We screwed up."

Then he got more specific: "I should have caught it ... I didn't."

The company estimates it lost $5.8 billion, thanks to a London-based trader, nicknamed the "London whale," who took large, risky positions in credit derivatives.

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5:15pm

Tue October 9, 2012
Planet Money

Episode 408: How To Hide Money From Your Spouse

Originally published on Tue November 27, 2012 11:19 am

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Earlier this summer, we set up two shell companies in tax havens. On today's show, we continue our quest to figure out what people actually do with shell companies.

We discover the world of "Asset Protection," which is a fancy way of saying "hiding money." It's a world of Latvian companies and offshore conferences, of people trying to hide money from their future-ex-husbands and future-ex-wives.

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3:24pm

Tue October 9, 2012
The Two-Way

U.S. Government Sues Wells Fargo In Mortgage Case

Wells Fargo.
Karen Bleier AFP/Getty Images

6:59am

Tue October 9, 2012
Planet Money

Ask A Banker: What Do Investment Bankers Actually Do?

Originally published on Fri October 12, 2012 3:08 pm

Hi! My name's Matt. I write about the financial industry for a site called Dealbreaker. Before that, I made a living as an investment banker, underwriting convertible bonds and other equity-linked securities and selling equity derivatives to corporate clients. (I know!)

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