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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.
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.
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.
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.
Sharpen your pencils, it's Last Call quiz time.
Last year was a good one for JPMorgan Chase earnings but it would've been even better had the bank not been hit with mortgage-related losses, CEO Jamie Dimon told investors in his annual letter, released Wednesday
Is the economy getting stronger or pulling back? Two members of CNBC's Small Business Council weigh in.
The housing market is very close to a bottom and there are already signs its improvement is giving the overall economy a boost, JPMorgan's Jamie Dimon told CNBC.
JPMorgan hires about 10 veterans every day as part of the 100,000 jobs mission. Jamie Dimon, president & CEO of JPMorgan Chase, offers insight.
CNBC's John Carney reports on how JPMorgan's Jamie Dimon is responding to the Op-Ed piece by a former Goldman Sachs executive, and also what's happening within Goldman Sachs.
Greg Smith lobbed a verbal Molotov cocktail in The New York Times against his former firm, Goldman Sachs, and reaction to his resignation might lead you to believe a lot of people inside the firm agree with his negative assessment of CEO Lloyd Blankfein. Mmmmm...not so fast
A look back at the banking environment during the collapse of Bear Stearns, with Alan Schwartz, former Bear Stearns CEO/Guggenheim Partners executive chairman, who says institutions need to be more careful on how they define leveraging. Schwartz also says while there are some good things about regulation, they are over complicating.