Banking

5:03am

Thu May 17, 2012
The Two-Way

As Feared, JPMorgan's Losses Are Growing; Reportedly At $3 Billion

Timothy A. Clary AFP/Getty Images

The word on Monday that JPMorgan Chase's losses from risky trades that went wrong could climb from $2 billion to perhaps as high as $4 billion in coming quarters is being bolstered this morning.

There's this report from The New York Times' Deal Book blog:

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3:39pm

Tue May 15, 2012
Business

Shareholders Press JPMorgan Over Risk-Taking

Originally published on Tue May 15, 2012 3:46 pm

Protesters are seen behind a banner with a picture of JPMorgan Chairman and CEO Jamie Dimon outside a shareholders meeting Tuesday in Tampa, Fla.
Joe Raedle Getty Images

JPMorgan Chase faced more critics Tuesday, this time from some of its own shareholders at its annual meeting in Tampa, Fla. This comes after the bank disclosed it lost at least $2 billion last week in a bungled trading strategy.

The Securities and Exchange Commission is looking into the surprise loss, and the Justice Department has now reportedly opened a preliminary probe.

JPMorgan executives let shareholders do some venting at Tuesday's meeting.

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10:23am

Tue May 15, 2012
The Two-Way

Report: Justice Dept. Probing JPMorgan's Big Loss

Originally published on Tue May 15, 2012 10:45 am

Standing behind a banner with a picture of J.P. Morgan Chairman and CEO James Dimon, protesters gathered outside the bank's annual meeting today in Tampa.
Joe Raedle Getty Images
  • Two soundbites from CEO Jamie Dimon at today's shareholders meeting

The Justice Department has begun looking into JPMorgan Chase's $2 billion-and-counting loss from a hedge account, The Wall Street Journal reports. It cites "a person familiar with the matter" as its source.

The Journal adds that "the probe is at an early stage and it isn't clear what possible legal violation federal investigators may be focusing on."

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2:09am

Tue May 15, 2012
Election 2012

JPMorgan's Loss A Gain For Campaign Positioning

Originally published on Tue May 15, 2012 7:51 am

The U.S. and JPMorgan Chase flags wave outside its headquarters in New York on Friday.
Eduardo Munoz Reuters /Landov

The fallout from banking giant JPMorgan Chase's $2 billion — and counting — loss has made its way into the presidential campaign. The president and presumptive GOP challenger Mitt Romney have very different views about the regulation of Wall Street, in particular the Dodd-Frank financial systems overhaul law.

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7:02am

Mon May 14, 2012

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