In an era of chastened Wall Street egos, Michael L. Corbat, the chief of Citigroup, has cultivated a workmanlike demeanor out of the spotlight. The NYT reports.» Read More
It is almost certain that, at the very least, the Fed (not wanting to exacerbate its reputation for throwing taxpayer money at “Too Big To Fail” problems), would have backed JP Morgan off these trades long ago.
The surprising news of a $2 billion loss at J.P. Morgan is understandably shaking the markets and investor confidence.
These circumstances take on a fantasy-world quality in that many of us continue to believe the bankers are so scary smart about our markets and economy. What it really demonstrates is what chumps we sometimes have become.
One day after JPMorgan Chase announced that it had suffered a trading loss of at least $2 billion, Bill Gross, Pimco's managing director and co-CIO, said it was still one of the “best-run banks in the world.”
United States and British regulators have been in discussions with the bank for almost a month about the trading group that disclosed more than $2 billion in losses, The New York Times reports.
Bill Gross, Pimco managing director and co-CIO, is calling for a third round of quantitative easing from the Fed.
CNBC's "Squawk on the Street" team and Jim Cramer discuss SEC Chair Mary Schapiro's comments on JPMorgan.
The "Squawk on the Street" team discusses this morning's major headlines, including JPMorgan's $2 billion trading loss, Nordstrom's earnings miss and Credit Suisse's upgrades on AT&T and Verizon.
David Gregory, Meet the Press moderator, discusses JPMorgan CEO Jamie Dimon's interview on his show prior to the announcement of the firm's $2 billion trading loss.
In a surprise announcement, JPMorgan said Thursday that it has suffered trading losses of $2 billion since the start of April. Stephanie Link, director of research and VP of strategy at TheStreet and CNBC contributor, weighs in.
US biggest bank in asset, JPMorgan, revealed on Thursday that it suffered a trading loss of at least $2 billion from a failed hedging strategy.
JP Morgan shocks the financial world with a surprise 5pm conference call to announce a $2B in losses Yahoo CEO says he never gave the company his resume. Boone Pickens delivers a frank talk and video game sales see a 5th straight month of decline.
Brian Kelly, Shelter Harbor Capital; Lee Munson, Portfolio Asset Management; and Russ Koesterich, BlackRock iShares Group, discuss JP Morgan's stunning revelation of $2 billion trading losses and its impact on Friday's trading action.
CNBC's Mary Thompson and Jim Cramer report on JP Morgan's stunning admission of huge losses at the bank. Also, discussing what's causing the stall on Capitol Hill, with Kimberley Strassel, The Wall Street Journal; Bill Hennessy, St. Louis Tea Party founder; and Joy Reid, TheGrio.com.
"Just because we're stupid doesn't mean everybody else was," says JPM's CEO Jamie Dimon, commenting on his company's huge losses. CNBC's David Faber weighs in on Dimon's ability to manage risk, with Todd Hagerman, Sterne Agee analyst.
The Fast Money traders listen in on JP Morgan's conference call, and CNBC's Mary Thompson has highlights from the call, reporting JPM's CEO Jamie Dimon said the losses were "stupid" and violated the "Dimon Rule".
JPMorgan Chase is introducing its own prepaid credit card called Chase Liquid, in a move that could help it recoup revenue lost to new regulation.
Have the last few years left you looking like a cross-eyed Mary? Were your retirement plans bungled ... in the jungle? Maybe the financial collapse has left you feeling like a dead duck, spitting out pieces of your broken luck. Oh, Aqualung.
The U.S. economy is improving but "we wish it were stronger," JP Morgan Chase's chief financial officer told CNBC Friday.
Michael Scanlon, Manulife Asset Management, and Todd Hagerman, Sterne Agee, discuss JPMorgan's better-than-expected earnings this quarter.