Which makes perfectly good sense because JPMorgan merely lost its shareholders money on the ill-fated chief investment office derivatives trade executed by Whale & Co., while Goldman played outside investors for drooling nincompoops. But as YouGov’s Ted Marzilli
Also worth noting: Even a “good bank” like JPMorgan has had a hard time breaking the Read More
The world may never know, or at least not for a while: As the learned folks at Alphaville report, Morgan Stanley came out with a note last week suggesting the trading losses may touch $5 billion, or $2 billion more than JPMorgan’s estimate. The reasoning:
“The question is, how does Jamie Dimon expect only Read More
We had an interesting conversation yesterday about the timing of JPMorgan’s disclosure of $2.3 billion trading losses, after the tallies were counted in a shareholder proposal to replace Mr. Dimon as chairman of the bank’s board of directors. Mr. Dimon is currently chairman and chief executive officer, and while the attempt to strip him of the board role failed, the proposal received 41 percent of the vote, an improved result for investors like AFSCME’s Lisa Lindsley*, who see a conflict of interest when the two roles are shared.
“That was a strong vote,” said our friend, who thinks about these things. “What would have happened if Dimon had disclosed the losses two days earlier? Would there have been more time to build support for the proposal?” Read More
Three JPMorgan executives tied to the massive trading losses announced last week are expected to resign, Yahoo CEO Scott Thompson stands aside and a hedge fund calls for Aubrey McClendon’s head. Here’s the morning Wall Street roundup: Read More
Affordable Housing or Lack Thereof
