Since it’s curiously hard to find on the NY Fed’s home page, given the prominence of Bill Dudley’s recent firebreathing speech warning against complexity and cultural dysfunction in US banks…
Click for the Federal Reserve inspector general’s account of how the NY Fed failed to follow up on the early signs it had uncovered of risks in JPMorgan’s Chief Investment Office. Read more
Within the “sanction” section in the Final Notice on the JP Morgan Whale affair, the FCA takes eight full pages, containing 42 clauses, to get to this:
Conclusion Read more
Federal Reserve fine: $200m
SEC fine: $200m
OCC fine: $300m
UK FCA fine: £137m
JPMorgan shareholders keeping Jamie Dimon as chairman: priceless Read more
It’s going to take awhile to go over the report of the Senate Permanent Subcommittee for Investigations. There are 1,654 footnotes and we wouldn’t want to miss a single one.
This, however, is one of our favourite exhibits thus far. Not that it’s shocking. More that it’s kinda like a famous artifact that we never thought we’d get to see: Read more
Frankly we’re bored of this, but:
That question deserves some serious thought, don’t you think? Read more
JPMorgan’s Whale report just keeps on giving: from the blow by blow account of internal P&L swings after the first articles were published about the CIO’s trades, to discussion on how achieve the firm-wide goal of reducing risk-weighted assets.
Let’s start with the former, shall we? Read more