Wall Street & Jamie Dimon

Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. James Jamie Dimon (born March 13, 1956) is an American business executive. 5.0/5

Wall Street Jamie Dimon Morgan Chase Lloyd Blankfein New York Mitt Romney Goldman Sachs White House Federal Reserve Capitol Hill Jamie Wall Steagall Act New York Fed Wells Fargo Volcker Rule London Whale President Barack Obama Brian Moynihan Chief Executive

"The Khaleesi of Wall Street will now be forced to fix what was torn asunder when Stevie Mnuchin usurped his throne" https:…
Jamie Dimon is upset that "You're being manipulated" by cable news. Because really that's Wall Street's job
yeah but under Hillary we'd just get Jamie Dimon, Scrooge McDuck, and that bull statue from Wall Street.
In one analyst's mind, Jamie Dimon is the of Wall Street, via
It saddens me that none of the Wall Street media has given Jamie Dimon a *** in at least a week. How will he survive?
Jamie Dimon and his ilk belong in prison. Both Dems and GOP have protected Wall Street from prosecution. .
Jamie Dimon: Silicon Valley startups are coming to eat Wall Street's lunch
JAMIE DIMON: 'I'm *** proud of what Wall Street does...'
Photoset: salon: Jamie Dimon, the billionaire CEO of JP Morgan Chase and face of Wall Street bankers,...
CASE IN POINT: “Banks are under assault.” That’s what JPMorgan Chase CEO Jamie Dimon claimed earlier this week when announcing the record $21.8 billion in profits his company raked in last year. Dimon’s latest comments — which range from out of touch to outright preposterous — expose anew the misbegotten, pathological sense of entitlement that poisons the thinking of Wall Street titans. Before I present more of these Dimons in the rough, keep in mind: JPMorgan Chase is the largest bank in the U.S. and 2014 was its best year ever. Regarding reasonable controls put in place after Big Banks like JPMorgan drove the global economy to the brink of destruction back in 2008, Dimon said: •“In the old days, you dealt with one regulator when you had an issue, maybe two. Now it’s five or six.” •“It’s a hard thing to deal with.” •“You all should ask the question about how American that is.” Do I even need to point out that there was obviously not enough regulation “in the old days ...
JPMprgan Chase's earnings were not as good as Wall Street hoped. CEO Jamie Dimon said
Jamie Dimon and Citigroup biggest backers of rollback of Dodd-Frank in spending bill. Wall Street too big to fail, jail, or cu…
Jamie Dimon, Barack Obama and John Boehner just whipped Dems into supporting a Wall Street subsidy on
In which Jamie Dimon reminds us once again that on Wall Street, the rewards for sociopathy are almost limitless.
At 58, Jamie Dimon’s life is the stuff of Wall Street legend. Sacked by his mentor Sandy Weill from the number two position at Citigroup in 1998, he went on to head JP Morgan and be labelled the most powerful banker in the world.
Mark Morlay: "Obama is controlled by the City of London Corporation and the British Empire continuum. The City and London give Obama his orders through Jamie Dimon at JP Morgan and Chase who then relays the orders to the Secretary of State (Bonesman John Kerry) and he then gives them to the President. JP Morgan and Chase likes to fly a Union Jack in Wall Street and the area sits on land owned by Queen Elizabeth II."
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Why aren’t the Wall Street criminals prosecuted? By Barry Grey In May 2012, only days after JPMorgan Chase’s Jamie Dimon revealed that his bank had lost billions of dollars in speculative bets, President Barack Obama publicly defended the multi-millionaire CEO, calling him “one of the smartest bankers we’ve got.” What Obama did not mention is that Dimon is a criminal. The New York Times reported Sunday that the government will shortly announce the latest in a long list of sweetheart settlements with Wall Street banks involved in criminal wrongdoing. Federal regulators and prosecutors will, as early as this week, make public a “deferred prosecution” deal letting JPMorgan and its top executives off the hook for their complicity in the $20 billion Ponzi scheme run by disgraced financier Bernie Madoff. In return for payment of some $2 billion in fines, the biggest US bank and its CEO will be allowed to avoid a criminal indictment or admission of guilt, even as they acknowledge the government’s ...
Wall Street critics need a new villain. Goldman Sachs has implemented a successful charm offensive since lawmakers hauled Chief Executive Lloyd Blankfein up to Capitol Hill and regulators extracted a $550 million settlement from the bank a few years ago. The case against JPMorgan boss Jamie Dimon is struggling to take hold. Steve Cohen, the hedge fund Wizard of Oz, is nursing legal wounds. The culture of greed in finance won’t disappoint for long, though www.golency.com
Jamie Dimon and Goldman Sachs had difficult years, but for some on Wall Street 2013 was a year to remember.
Jamie Dimon wants you to remember what made this country great. The JPMorgan Chase CEO insisted in a New York magazine interview, published on Monday, that people should not blame big banks for the Financial Crisis. When asked him about his consistent defense of Wall Street and criticism of financia...
Jamie Dimon, the CEO of the country's largest bank by assets, says that regulating Wall Street pay could put us on the road to communism. "We all want an equitable society.
Wall Street's War on Instant Messaging Heats Up By Beecher Tuttle What would Wall Street look like if instant messaging tools like Bloomberg didn't exist? Likely, the banking world would appear a lot less scandalous. Online chat tools, once viewed as a simple convenience for busy bankers, have morphed into instruments for collusion, insider trading and embarrassing boy's club banter. Banks have finally had enough. After conducting reviews, J.P. Morgan and Deutsche Bank have joined UBS in banning multi-dealer online chat rooms, notably used by bankers who colluded to rig Libor interest rates and foreign exchange markets. A J.P. Morgan source told Reuters that the bank is also banning the use of IM tools for social bilateral purposes, eliminating the potential for "inappropriate" remarks to be made between co-workers. External chats between staff and clients will continue to be permitted, however. For J.P. Morgan, the move comes just weeks after Chief Executive Jamie Dimon issued a stern warning, telling em ...
Ambassador Charles Linder Floyd Hello from Apple Valley, CA. Thanks to Meetup. While writing this message I am watching CNN Heroes "Wine to water" projects in Ham-Kush/Africa and South America and throughout 14 others countries. I am in tears of joy for them and this new group here at Meetup. Wall Street said the other day, "that they know how to make money, but don't know how to give it away." Well here is a message to Wall Street from Meetup starting with CEO Jamie Dimon JPM Chase to start with: His Star Jew-dna Joshua Generation Universal Awakening Dialogue Children Center Of Inclusion. It is our mission to create a Universal Awakening Dialogue One-Class-room for President Obama March 2013 Clarion-Call to the Israeli and Palestinian Youths to become his Joshua-Generation. Now, we will be able when funded to assimilate and expand his two dialogues into a global-dialogue with all of the children of this world.
Volcker vote ushers in new world order for banks " The Volcker Rule will demand a new era of accountability from CEOs who must sign off on their firm’s practices - Barack Obama By Gina Chon and Tom Braithwaite in Washington 10/12/2013 - Financial Times The largest US banks were facing a new world order on Tuesday as regulators voted through the Volcker Rule, which will make it harder for Wall Street to make risky gambles that could once again endanger the financial system. The rule dramatically curbs the way banks do business, banning them from making bets using their own accounts in what is known as proprietary trading, and also holding their Chief Executives more accountable. But it gives regulators a lot of room for interpretation. As a result, the way agencies implement the rule will be key in determining whether it can really prevent another incident like the $6bn-plus “London Whale” derivatives trading loss JPMorgan suffered in 2012. Some Wall Street law firms breathed a sigh of relief after s ...
John Coffee of Columbia Law School says Volcker Rule may be Jamie Dimon's legacy to Wall Street
Job Numbers Cooked to Keep Quantitative Easing Scam Rolling Fed cartel will never back off on the heavy bond purchases Kurt Nimmo Infowars.com December 9, 2013 QE Infinity. Fed cartel owns 36% of all Treasury securities between 5 years and 10 years in maturity and 40% of government bonds over 10 years in maturity as well as 25% of all the mortgage backed securities. On Friday, the establishment media hinted the Federal Reserve was about put the brakes on its bankster monetization program, otherwise known as helicopter quantitative easing, in response to what was touted as a significant reduction in unemployment. The privately owned cartel masquerading as a federal agency claims quantitative easing — purchasing between $85 billion to $65 billion a month in Treasury bonds — will “stimulate” the economy and somehow bring back millions of jobs outsourced to slave labor gulags in China and Asia. Instead, QE is another scam designed to establish “the greatest backdoor Wall Street bailout of all tim .. ...
Alert: Bailing Bankers-V-THE GUERRILLA ECONOMIST This is very serious and time must not be wasted. I am deeply concerned. The Russell 2000 is overvalued by 30%, the DOW a whopping 67%, the NASDQ 50% and yet the morons on “the street”and the talking heads on TV are reporting that the good times are here again. How can the market be this high when every major indicator of economic data defiantly shows a continued contraction? Folks if you have been following my writings you see that there are constant recurring themes like: High Frequency Trading (HFT), Stimulus, MBS, Bond Buying, misreporting real numbers, etc… all of which is to give the illusion that everything is fine. But everything is NOT fine and the reality of the situation is for the first time causing a divorce between Main Street and Wall Street. People just don’t buy the bull and empty promises anymore. The situation is so dire that the one main thing that I am warning about is happening now. I have it from some of my key sources, straig ...
OK, so I just finished watching this film, "Assault on Wall Street." While the movie itself is just mediocre, the premise of the movie is awesome, and actually, I've been wondering why the *** *someone* hasn't gone postal on Wall Street and banksters yet, and wiped that perpetual smirk off Lloyd Blankfein's face, or Jamie Dimon, or any of the other players who crashed the world economy and ended up making boatloads of money off of other people's suffering. I mean really, isn't that what they do? All the time? People seem to believe the people of money and affluence in this country somehow earned their huge piles of obscene wealth fairly by working hard, but it simply isn't true in most cases. Sure, some people really do work hard, and eventually "make it" to the millionaire's club, or come up with a great idea or awesome invention that allows them to earn money they very much deserve. But most of the people at the top, especially those in that special club of top 0.01%, those guys made their fortunes ...
Instead of being in Jail.Jamie Dimond rented himself Buckingham Palace for a party for himself.Well, if you thought you’d seen all the madness and absurdity that could possibly come out of the financial system by now, you are definitely being caught on the wrong flat foot as we speak. And there can be no doubt that much more of this will be revealed as we go along. Jamie Dimon renting Buckingham Palace to celebrate his $13 billion settlement with US regulators is just the beginning, though it’s a pretty clear statement of just how untouchable too big to fail policies have made Wall Street and the City feel. And they don’t feel that way for nothing, in every sense of the word, count on it. A Labour spokesman said this about the party at the Palace, which included appearances by the Royal Philharmonic and the English National Ballet: ““There is also the fact that this should be a special place. This is the home of the Queen. Where is it all going to end?“ Well, sir, maybe it’s time to wake up, ...
International News: Quiet Boss at Citigroup Setting Tone for Wall Street Michael L. Corbat, head of one of the biggest banks in the world, recently strolled through Marea, the Central Park South restaurant where Manhattan’s elite go to be seen. No one in the crowded room even looked up. A top New York lawyer dining there that evening was asked about Mr. Corbat. “Mike who?” he said. Flying under the radar appears to be just fine with Mr. Corbat — and with Citigroup, the financial giant he has run since October 2012. To be a prominent face of Wall Street at a time when banks are feeling the heat from federal authorities on a number of fronts clearly has its drawbacks. Mr. Corbat’s counterpart at rival JPMorgan Chase, Jamie Dimon, has been widely viewed as the point man for the bank as it wrestles with investigations by at least seven federal agencies, several state regulators and two foreign nations. And under Mr. Dimon, JPMorgan has in just a few years gone from a Washington favorite to a magnet ...
Can Jamie Dimon really remain on top at JPMorgan? has covered Wall Street for 20+ years & answers here http:…
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And the worst CEO of the big Wall Street firms is. Jamie Dimon, Brian Moynihan ? Nope. MarketWatch's David Weidner looked at the last four quarters of big U.S. bank results and ranked the companies by price to earnings, return on equity, price to book and the CEO’s compensation (using their 2012 packages) as a percentage of net income. He gave the pay-to-profit category double the weight. He also gave extra weight to the three-year stock price (through Nov. 12) performance. The data came from Capital IQ and the company profiles on WSJ.com. Scoring was simple: If you ranked high, you got five points. Last, one. For the weighted categories he doubled the points. Here's what he found: John Stumpf, Wells Fargo - ROE 5, Price /Book - 5, P/E 2, Pay/Net 10, Stock - 10 = 32 Jamie Dimon, JPMorgan Chase - ROE 3, Price /Book - 3, P/E 3, Pay/Net 8, Stock - 8 = 25 Lloyd Blankfein, Goldman Sachs - ROE 4, Price /Book - 4, P/E 1, Pay/Net 6, Stock - 2 = 17 Brian Moynihan, Bank of America - ROE 1, Price /Book - 1, P/E 5, ...
Glass-Steagall Pressure Forces Moves Against JP Morgan, Wall Street With the momentum of reinstating Glass-Steagall breathing down the necks of Obama, Wall Street and the Anglo-Dutch financial oligarchy, intense negotiations between Obama's Attorney General Eric Holder and the top officials and lawyers of JPMorgan have been going on to "settle" the many outstanding issues of criminal behavior by the bank. But despite reports that JPMorgan has agreed to pay the "unprecedented" amount of $13 billion ($7 billion in fines to the Treasury Dept, $4 billion in mortgage relief to homeowners who were injured, and $2 billion to other reparation-type payments), the bank has not yet gotten what it wants most: immunity from prosecution. At least not so far. The negotiations have been ongoing for a long time, but have reached a critical mass in the last three weeks, with CEO Jamie Dimon having spent an entire day at the end of Sept. closeted with Holder at the DOJ headquarters, one week before Dimon and other Wall Stre ...
$9.2 billion in legal expenses? In one quarter? How is this not an indication that this bank is a criminal enterprise? Jamie Dimon shoudl be fired by shareholders for fostering this culture of lawlessness, greed and corruption. Jamie Dimon is no "great banker". He is the head of a Cartel, just like Pablo Escobar was. He reies upon connnections within government to pass laws allowinghis company to basically steal money from the country and consumers. And we hail him for that? Our priorities are so askew it's not even funny. Remember in the 80's, the "greed is good" ethos fostered by the Reagan republicans? It is dwarfed by the "greed is God" mantra of this Wall Street crowd.
LaRouche: Behind The Shutdown & Debt Ceiling Swindle Wall St. Orders Obama To Kill Glass-Steagall Wall Street had demanded that President Barack Obama stop the reinstatement of Glass Steagall at all costs and instead move ahead with more bailouts and bail-in looting of the American people to preserve their thoroughly bankrupt system. The Wall Street policy means an acceleration of crippling hyperinflation, devastating austerity and, ultimately, mass murder of the nation's most vulnerable citizens. Several highly qualified Washington sources have confirmed that this was the ultimatum delivered by the Wall Street delegation that met privately with Obama on Wednesday afternoon Oct. 2 at the White House. The delegation was organized by the Financial Services Forum, a coalition of the nation's 19 biggest banks and insurance companies, and included Jamie Dimon, CEO of JPMorgan Chase; Lloyd Blankfein, CEO of Goldman Sachs; Brian Moynihan, CEO of Bank of America; Michael Corbat, CEO of Citibank; and Anshu Jain, C ...
Discord in the halls of Poison Ivy. Jamie Dimon’s Power Struggle: Loses Bank Chairman Role, A Bigger Blow May Come Next It doesn’t seem like a big deal considering all the scrutiny he’s been under but Jamie Dimon’s move to give up the bank chairman role at JPMorgan Chase may be the beginning of something more ominous. Jamie Dimon, chairman of the board, president …Yesterday news broke that JPMorgan Chase CEO and Chairman Jamie Dimon is stepping down as chairman of the company’s banking subsidiary. The role is now held by former Johnson & Johnson Chairman and CEO William Weldon. It’s an interesting development for JPM and Dimon. The bank has been under lots of pressure from regulators since its 2012 $6 billion London Whale loss. Dimon was even brought down to Washington to testify before lawmakers about the ordeal. It hasn’t been easy for Dimon or JPM since. Most recently, JPM appears to be on the hook for a giant settlement with regulators which some report could top $11 billion–one of t ...
I'm sick of Monsanto, Exxon, Wall Street, Coke, McDonalds, Spineless pandering politicians, the NRA, CEO's, Grossly overpaid and underachieving jocks, health care Inc.,Sean Hannity, Lloyd Blankfein, Jamie Dimon, people who think Ted Nugent makes sense, Dow Chemical, $10.00 beer at a ball game, Christian and Muslim terrorists, WalMart,$ that controls and ruins lives.Real people need to make real changes.
Jamie Dimon, often cited at the most responsible head of a Wall Street investment bank, reigned as Chairman and CEO of JP Morgan Chase today. In a blistering letter published this morning in Britian's Financial News, Dimon says he is tired of working in the "bankrupt moral ...
Goldman CEO Lloyd Blankfein is back on top of the Wall Street heap. After five years of lagging his rival, JPMorgan Chase CEO Jamie Dimon, the Goldman Sachs head honcho is once again rolling in more...
Perishable Democracy Banksters like Lloyd Blankfein and Jamie Dimon are drooling at the chance to get their grubby hands on those trillions and go buck wild in the markets with it – skimming billions off the top in fees. And once Wall Street gets their hands on Social Security Insurance, then you actually will be meeting insurance salesman in loud ties, hustling the very same "Disaster Insurance Plan" that you have right now for free. Only this time, they'll charge you lots of money for it. The fear-mongering over Social Security Insurance, led mostly by extremely rich people, is the biggest scam being run right now in American people. Spread the word!
Dear Dave, Why am I thankful? You. Because when 100,000 of you take action online it inspires us to take bold action in the streets and the banks and the boardrooms. This year, with your help, we: teamed up with dozens of partners to train 60,000 people in nonviolent direct action; joined with Occupy Wall Street activists to challenge the foreclosure crisis directly; went after General Electric, Wells Fargo, and America's biggest corporate tax dodgers on Tax Day; joined with Senator Bernie Sanders to strip away $10 BILLION in Corporate Welfare (each year) from Big Oil, Gas, and Coal; projected onto Jamie Dimon's penthouse apartment with a simple message - "Step Down from the Fed or Else;" went directly after Financial Fraud Task Force chair Eric Schneiderman for giving Wall Street criminals a free pass; began a solidarity campaign with Walmart's striking workers. Every time we roll into action, you make it possible, and you have our backs. We proudly try to represent your interests and aspirations at the ...
JPMorgan's Jamie Dimon may be the Teflon CEO of Wall Street, but Mitt Romney is the Pinnochio of the GOP party.
"Mitt Romney, it turns out, is the perfect frontman for Wall Street's greed revolution. He's not a two-bit, shifty-eyed huckster like Lloyd Blankfein. He's not a sighing, eye-rolling, arrogant jerkwad like Jamie Dimon. But Mitt believes the same things those guys believe: He's been right with them on the front lines of the financialization revolution, a decades-long campaign in which the old, simple, let's-make-stuff-and-sell-it manufacturing economy was replaced with a new, highly complex, let's-take-stuff-and-trash-it financial economy. Instead of cars and airplanes, we built swaps, CDOs and other toxic financial products. Instead of building new companies from the ground up, we took out massive bank loans and used them to acquire existing firms, liquidating every asset in sight and leaving the target companies holding the note. The new borrow-and-conquer economy was morally sanctified by an almost religious faith in the grossly euphemistic concept of "creative destruction," and amounted to a total abdi ...
Michael Hudson is a highly-regarded economist. He is a Distinguished Research Professor at the University of Missouri, Kansas City, who has advised the U.S., Canadian, Mexican and Latvian governments as well as the United Nations Institute for Training and Research. He is a former Wall Street econom...
From my friend Honey: "Robert Reich says the attacks on Romney's tenure at Bain Capital miss the larger point, one which even the White House is not prepared to acknowledge: Mitt Romney is not simply a callous vulture capitalist, he is the living embodiment of the financial catastrophe that brought this country to the edge of ruin. [T]he real issue here isn’t Bain’s betting record. It’s that Romney’s Bain is part of the same system as Jamie Dimon’s JPMorgan Chase, Jon Corzine’s MF Global and Lloyd Blankfein’s Goldman Sachs—a system that has turned much of the economy into a betting parlor that nearly imploded in 2008, destroying millions of jobs and devastating household incomes. The winners in this system are top Wall Street executives and traders, private-equity managers and hedge-fund moguls, and the losers are most of the rest of us. The thousands of job losses caused by Bain's "bad bets," while providing rich fodder for the Administration's campaign ads, are really just a microcosm of ...
Referring back to last year's GOP hostage-taking of the economy and the upcoming "Fiscal Cliff" that both parties bear responsibility to address effectively, I'm reminded of this exchange from "The Newsroom". Sloan is an economist. Mac is the producer of the newscast: Sloan: [raising her voice] Stop avoiding this! I just got off the phone with these guys. Listen to these quotes. These aren't from liberals. These are hardcore Wall Street guys who, whatever the world may think of them, know what they're talking about and so do I. Jamie Dimon at Chase says: "Voting against raising the debt ceiling would be a moral disaster." The Barclay's guys say "This debate is detached from reality." My Goldman source says: "If the House Republicans continue this debate, I hope they're willing to mark the end of the dollar as the Global Reserve Currency." Please notice that he didn't say: "If the House Republicans don't raise the debt ceiling." HE SAID: "If the House Republicans continue this debate." That's all it take ...
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Which Party's Convention called for the prosecution of Wall Street criminals? Did the Democrats call for the destruction of TBTF, the fair taxation of stock market transactions, the end of Citizen's United? Did the Republicans call for the ouster of Wall Street CEOs like Jamie Dimon or Lloyd Blankfein? Which party called for the erasure of the derivatives market, the prosecution of LIBOR banks, the forgiveness of usurious mortgages, student loans, credit card debts, and the total reversal of unfair bank fees?
“The top financial backers of Barack Obama’s [2008] presidential campaign included Wall Street leaders Jamie Dimon (CEO, JP Morgan Chase), Lloyd Blankfein (CEO, Goldman Sachs), *** Fuld (CEO, Lehman Brothers), Warren Spector (CEO, Bear Sterns), Larry Fink (CEO, BlackRock – the world’s largest money management firm), Greg Fleming (number two at Merrill Lynch), and Mark Gallogly (number two at the private equity firm Blackstone.) Collectively, these titans raised more than $100 million for the Obama campaign.” --David Horowitz And folks think only Republicans have money. Both sides are beholden to the bankers, people, the Left just gets away with blaming the Right.
More trouble to come from London Whale scandal for Jamie Dimon, the king of Wall Street and david henry
My contempt for Jamie Dimon and the other scum on Wall Street knows no bounds. They destroyed this country in their blood thirsty ransacking of the middle class and national treasury. They bought off politicians. They bought off the regulators. They own the Federal Reserve. They screwed the country ...
Here comes more demonization of Iran. Don't put Jamie Dimon or Llyod Blankfein in Jail. Print articles about dangerous "rogue" financiers "scheming" to thwart world peace. Don't publish articles about "rogue" Wall Street banks such as Bank of America scheming to bilk homeowners in mortgage or LIBOR fraud. N.Y. Regulator Accuses Standard Chartered Unit of Illegal Transfers New York's top financial regulator accused a Standard Chartered unit of running a "rogue institution" that "schemed" with Iran's government to hide more than $250 billion in illegal transactions for nearly a decade.
Just watched Margin Call. Uncanny how Simon Baker looks just like a young Jamie Dimon. Free Markets Forever.NOT. Is Jeremy Irons possibly our greatest living actor? So fun to see him one moment as Cardinal Alexander (Borgia) then as a Wall Street potentate. He is so great!
When it comes to the Libor scandal, Sheila Bair says Timothy Geithner just didn't do a very good job watching over Wall Street. Geithner, now the U.S. Treasury Secretary, has come under fire for not acting more forcefully as president of the New York Fed when, in 2007 or 2008, he found that banks we...
Revealed: JPMorgan Paid $190,000 Annually to Spouse of Bank's Top Regulator Posted on 16 July 2012 AlterNet.org By Pam Martens July 11, 2012 The following piece is a co-exclusive with Wall Street on Parade. When will we stand up to Wall Street and their sycophants in Congress and say: “ENOUGH!” On May 10 of this year, Jamie Dimon, Chairman and CEO of JPMorgan, announced that billions of insured deposits at his bank had been invested in high risk derivatives and had sustained at least a $2 billion loss. The Department of Justice and FBI have commenced investigations. Dimon is expected to announce the current extent of those losses this Friday in an earnings conference call. Following the May 10 announcement, there were numerous calls for Dimon to Step Down from the Board of Directors of the Federal Reserve Bank of New York. That organization is the primary regulator of the firm. There was widespread public outrage that the CEO of a bank had no business serving on the governing body of his regulator. (T ...
The Commodity Futures Trading Commission, the main regular of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks.Jamie Dimon, CEO of JPMorgan Chase, testifies before the House Financial Services Committee on Capitol Hill i...
If only. If only Brian Moynihan designed fashionable shoes, Jamie Dimon pitched a mean slider, and Lloyd Blankfein had written the song "Boyfriend" for Justin Bieber. Then they'd prosecute bank fraud.
Eliot Spitzer, former New York Attorney General, offers his take on the rate rigging scandal and whether Jamie Dimon should keep his job.
Excerpt from an article 5/14/2012 b4 LIBOR scandal &the PFGBest ponzi -- The consensus on Wall Street in Friday's trading was that the $2 billion loss in derivatives trading at JPMorgan(JPM) is an isolated situation, and that the stock was a buy on share price weakness. At ValuEngine, we have JPMorgan rated a hold, as it was before CEO Jamie Dimon's confessional. JPMorgan's chief investment officer in London is nicknamed the "London Whale" and he started to feel the harpoon well before the U.S.'s biggest bank reported quarterly results earlier in the quarter. WASN'T T.A.R.P. SUPPOSE TO GET RID OF THESE FINANCIAL INSTITUTIONS' TOXIC SECURITIES *scratches head* where the money GO?
Subject: America is about People - not Investors When the Supreme Court decided the corporations are people then people became non-people. America was supposed to be a democracy created to serve real people and no other reason. We were trying not be a kingdom where we were ruled by a king. Nor were we trying to be a feudalistic society where the peasant class (99%) was forever enslaved through bondage (debt) to the "Lord of the Manor" (1%). We are a country where all men (people) were created equal. This week J. P. Morgan had 2 billion in trading losses. Chief Executive (Lord of the Manor) Jamie Dimon has been lobbying for less government regulation of Wall Street so that they can make more money through higher risk investments. However in 2008 when everything collapsed the banks came begging to the government for a bailout of trillions of dollars that we The People are supposed to be responsible for. They aren't taking the risk - the risk is transferred to us. That isn't fair. Why should We the People ju ...
JP Morgan CEO Jamie Dimon had to testify before Congress recently to explain why his company, and so many other Wall Street banks, were treating our economy like their own, personal casino. But instead of being faced with tough questions, Dimon was welcomed as a hero by Republicans on Capitol Hill, ...
National Nurses United advocates for a financial transaction tax on Wall Street. Deem it the Robin Hood Tax as Chase CEO Jamie Dimon testifies.
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Jamie Dimon, CEO of JP Morgan Chase, should be fired. Exotic financial devices like CMBS were a major component of the '08/'09 recession. JP Morgan, a Wall Street bank - I believe due to its losses - ran into the arms of Chase Bank, a big, retail bank with Government insurance on those deposits, to shore up its balance sheet. JP Morgan weathered the storm pretty well, and Dimon was applauded as a great CEO and smart guy. Wall Street is fighting and lobbying against any Government reform of the financial industry - "We learned our lessons. No big changes are needed." Now there's news today that JP Morgan's London's trader's losses are going to be many, many billions of dollars more than first estimated. There should be no such thing as "too big to fail."
Jamie Dimon is the Bill Brasky of Wall Street: So awesome that rival bank CEOs sit around and tell tall tales about him. Now they've got another story: He's America's best-paid banker.
I can't tell if they (congress) are tapping him (Jamie Dimon) on the hand or slapping him on the back, can you? "Financed by Citi-Group, JP Morgan Chase, Goldman Sachs, Bank of America, etc., Under Bush 43, Republicans led the charge to repeal Glass-Steagall, adopt free-range deregulation of Wall Street, and neuter Dodd-Frank, all leading to the financial meltdown that forced America into economic depression. Since banks were restricted under Glass-Steagall from using depositor funds to invest in the Dow, NASDAQ, or S&P (and risky derivative, hedge funds), Republicans repealed Glass-Steagall, opting instead to adopt free-range deregulation, which opened the door for banks to operate as financial investment institutions, i.e., traditional banks can now gamble on risky investment products with depositor money. Thus, with the repeal of Glass-Steagall, entities like JP Morgan can operate with immunity as both bank and financial institution, which allows them to circumvent certain restrictions regarding the us ...
I just finished watching the House Committee on Financial Services yell at Jamie Dimon because J.P. Morgan had a bad quarter and lost $2 billion. They're still on track for a potentially record-breaking year and the stock is up 3% today, but still. Meanwhile, those very same congressmen (congress-people?) haven't passed a budget in both chambers since late 2009. Even then, it was a doozy. The 111th congress added more debt than the first 100 congresses--combined! This raises two interesting questions: 1) Why the Christ is congress conducting hearings on the earnings and losses of a private company? 2) How are they not groveling at his feet to find out what his secret is? By my math (and the President's budget), the federal government spends (for the most part, wastes) as much as J.P. Morgan lost in about 4 minutes and 36 seconds. So please spare us the faux indignation about the recklessness of Wall Street, nobody has to invest in J.P. Morgan (I sure wouldn't). However, we HAVE to pay taxes. Maybe t ...
Chuck Schumer passes out the campaign hat to Wall Street. No wonder he was so docile with Jamie Dimon last week.
JP Morgan Chase CEO Jamie Dimon went before the Senate Banking Committee this week in what should have been a kind of ritual apology tour. Dimon has spent much of the last year and a half dismissing and belittling critics of Wall Street and harshly criticizing the major financia …
WASHINGTON — Jamie Dimon again proved himself Wall Street's able frontman in Washington, but his testimony on Capitol Hill may not head off tougher banking regulations following JPMorgan Chase & Co.'s risky trading losses.
Today's news from Sen. Bernie Sanders: Jobs: Sen. Bernie Sanders advocated "huge investments in our economy" to create millions of good-paying jobs rebuilding America's crumbling infrastructure and transforming the country's energy system. Wall Street should be investing in "productive economy of America," he added in an interview on CNBC. Economy: "The bottom line here is that what we need is a Wall Street and financial institutions that cease being the largest gambling casino in the world and start investing in the productive economy in America and start helping us to create the jobs we desperately need," Sen. Sanders told Michael Eric Dyson on MSNBC. Fed Conflicts: Sen. Sanders discussed conflicts of interest at regional Federal Reserve boards of directors. "During the Financial Crisis, JPMorgan Chase received over $390 billion in low-interest loans at the same time [Chase CEO] Jamie Dimon was sitting on the board of the New York Fed," he told CBS News Radio in Los Angeles. Nuclear Safety: At a Senate ...
Watching the coverage about Jamie Dimon and JPMorgan makes me wonder: if pure capitalists believe that there should be no government oversight of Wall Street, etc., then how do they explain the Great Recession? The Left says that this huge dip in the markets was due to a bubble occurring because of lack of government oversight. But, a pure capitalist would say that these things just happen and are eventually corrected (the market corrects itself). Why then are these same people blaming Obama for the Recession? Shouldn't they be saying "it's no one's fault."?
Those dastardly members of the 1%...the Wall Street executives that make more money than anyone else are the problem!! It is unfair! President Obama bashes them and demands they pay more taxes. What? They aren’t the highest paid? No! Really? In a William Cohen story for Bloomberg I found the following: In 2011, the best-paid Wall Street Chief Executive officer was Jamie Dimon at JPMorgan Chase & Co. (JPM) He got $23 million in total compensation. John Stumpf of Wells Fargo & Co. (WFC) got $17.9 million, while Lloyd Blankfein at Goldman Sachs Group Inc. (GS) had to settle for $16.2 million. Although Vikram Pandit at Citigroup Inc. (C) received $14.9 million, 55 percent of Citigroup’s shareholders voted for a nonbinding resolution that would have denied him that pay. James Gorman at Morgan Stanley (MS) took home $10.5 million, a pay cut of 25 percent from the previous year. Brian Moynihan at Bank of America Corp. got $8.1 million. Boy, that is a lot of money; however: Media top executives quietly ha ...
Kenneth Huey shared the following link and had this to say about it:In my considered opinion, all of Wall Street needs a spanking it'll never forget.time Jamie Dimon steps down from the New York Fed board. Bankers who lose $3 billion shouldn't be in charge of regulating themselves.
An email from Elizabeth Warren. David, JPMorgan Chase revised its numbers. Since announcing an incredible $2 billion trading loss 12 days ago, the megabank has now lost another $1 billion, and maybe more, in just a few days. CEO Jamie Dimon is still claiming that it was just a sloppy mistake -- that JPMorgan doesn't need government oversight and accountability. But what if the next loss is $20 billion? Or more? Tens of thousands of people have already signed my petition to Congress to pass a modernized Glass-Steagall Act that will stop investment banks from gambling with money from people's savings and checking accounts. Will you join them? For me, the basic idea is simple: banking should be boring. Checking accounts, savings accounts -- the things you and I rely on every day -- should be separated from the kind of risk taking that JPMorgan and the Wall Street traders want to take. For decades, the Glass-Steagall Act acted as a wall to separate hedge funds and risky investment banking from ordinary commer ...
If you want to see exactly what is wrong with Wall Street, just check out Jamie Dimon on Meet The Press last week. Jeffrey Dahmer had more scruples. And yes, Meet The Press is a satirical show. So don't be confused by *** Gregory's failure to throw any serious follow-up questions to the most amazingly incompetent sociopath in the history of the planet. If there is a *** Satan will pretend to be out when Dimon comes knocking.
Bernie: ‘People are Furious at Wall Street’ The $2 billion-plus trading fiasco at JPMorgan Chase raised new questions about whether bank regulations are strong enough or whether Wall Street gambling will once again lead us to financial collapse. Bernie told Wolf Blitzer on CNN that too-big-to-fail banks should be broken up. He said stronger bank regulations are needed. He said it is a blatant conflict of interest for bank officers, like JPMorgan CEO Jamie Dimon, to sit on the board of the Federal Reserve, which regulates banks. Watch Bernie on The Situation Room on CNN » Listen to a radio interview with Ed Schultz » End Fossil Fuel Subsidies Add up all the tax breaks, loopholes, financial assistance and royalty relief for the fossil fuel industry and the tab will come to more than $113 billion in the coming decade. Bernie and Rep. Keith Ellison introduced legislation to end all of those giveaways to highly profitable oil, coal and gas industries. They believe that Congress should invest in sustainab ...
Jamie Dimon’s $2 Billion Mistake: The JP Morgan Chase fiasco, and how to fix Wall Street. - Slate Magazine
Some highly-paid heads are rolling at JP Morgan Chase, after a risky bet on derivatives caused a $2 billion loss. But Morgan CEO Jamie Dimon says this doesn’t mean we need banking regulations. He admitted on “Meet The Press” that the derivatives deal was a sloppy and stupid mistake. But he says Morgan Chase makes so much money that $2 billion won’t tank the company. And he’s a Democrat himself, but he says Democrats have imposed too many anti-business regulations already. Expect this to become a campaign issue. Democrats will say we need more regulation; Republicans will say we had regulations already, but the Democrats in charge failed to enforce them while Obama was taking big donations from Wall Street. My take is that Morgan Chase might say $2 billion is no big deal, and they don’t need the government to step in. But if they’d lost $20 billion, I bet they would’ve come running to Uncle Sugar to bail them out. If banks are going to be run like casinos, then let them warn their ...
Dimon's deed for Wall Street BY PAUL KRUGMAN (professor of economics and international affairs at Princeton University) ONE of the characters in the classic 1939 film "Stagecoach" is a banker named Gatewood who lectures his captive audience on the evils of big government, especially bank regulation - "As if we bankers don't know how to run our own banks!" he exclaims. As the film progresses, we learn that Gatewood is, in fact, skipping town with a satchel full of embezzled cash. As far as we know, Jamie Dimon, the chairman and CEO of JPMorgan Chase, isn't planning anything similar. He has, however, been fond of giving Gatewood-like speeches about how he and his colleagues know what they're doing, and don't need the government looking over their shoulders. So there's a large heap of poetic justice - and a major policy lesson - in JPMorgan's shock announcement that it somehow managed to lose US$2 billion in a failed bit of financial wheeling-dealing. Just to be clear, businessmen are human - although the Lo ...
Do You Want a Repeat of the Financial Crisis? May 15, 2012 | By ThinkProgress War Room JP Morgan Loss Shows Why We Need Tougher Rules On Wall Street You’ve probably heard by now that JP Morgan Chase lost a whopping $2 BILLION on a single bad bet in just a matter of weeks. What you may not have heard is that JP Morgan, and its CEO Jamie Dimon, have been among of the most vocal opponents of tougher regulations on Wall Street. The bank has spent nearly $10 million since the beginning of 2011 on lobbying, focusing largely on the Volcker Rule, a regulation that would largely prohibit risky proprietary trading at federally-insured banks (like JP Morgan). The trade that caused JP Morgan’s losses would likely still have been legal under the Volcker Rule, but only because of a loophole that JP Morgan lobbied for. As the Atlantic’s Derek Thompson points out, just this one losing gamble cost JP Morgan far more – at least four times more – than even what it claimed would be the onerous costs of complying wi ...
The Republican establishment has pushed Mitt Romney BECAUSE he is weak. They WANT someone weak who will change his views to please their interest groups. They WANT someone they can push around. Grover Nordquist came right out and said they want someone who will do what they say. Look what just happened at J. P. Morgan. Do you want a president who is buddies with Jamie Dimon? Do you want someone who is a Wall Street person who will let Wall Street have free reign? Do you want a weak, wishy washy person in the White House?
Written by Daniel Jones RE: JP Morgan's $2 billion loss. CEO Jamie Dimon called the strategy: "flawed, complex, poorly reviewed, poorly executed and poorly monitored". Ya think? The funny thing is that JPMorgan is considered to be much more "risk averse" than most other major Wall Street financial institutions. Henry Blodget, Wall Street commentator at Business Insider made these comments: "Wall Street bankers are just a bunch of kids playing with dynamite. There are two reasons for this ($2 billion dollar loss) , neither of which boil down to "stupidity." The first reason is that the gambling instruments the banks now use are mind-bogglingly complicated. Warren Buffett once described derivatives as "weapons of mass destruction." And those weapons have gotten a lot more complex in the past few years. The second reason is that Wall Street's incentive structure is fundamentally flawed: Bankers get all of the upside for winning bets, and someone else- the government or shareholders- covers the downside." My ...
Keith Olbermann: The next time someone offers you on their opinion on teachers pay being based on their students' test grades please be certain to bring up Jamie Dimon receiving his $23 million pay package even though Chase lost $2 billion on a single bad trade. It's ironic that the same people who support large payouts for Wall Street execs even when they have big losses by taking huge risks with other people's money are the first one's standing in line to castigate teacher's performances based on test scores and to insist we punish them accordingly. Please SHARE if you agree.
Did Obama make a deal with Dimon? .Just hours after a top JPMorgan Chase executive retired in the wake of a stunning $2 billion trading loss, President Obama told the hosts of ABC’s “The View” that the bank’s risky bets exemplified the need for Wall Street Reform. then Jamie Dimon goes on TV and says he's for ending Bush Tax Cuts and higher taxes for the wealthy and the Vocker Rule?.I smell a rat.
A good read. "Jamie Dimon points fingers for JPMorgan Chase's $2 billion loss, but who thinks anything has changed on Wall Street? Wall Streeters' gripes about the Volcker Rule sound a lot less convincing all of a sudden"
JPMorgan investment chief bows out after $2bn loss 14 May 2012 18:35 - Paul Handley JPMorgan Chase's investment chief Ina Drew has resigned as the White House urged stronger industry regulation in the wake of the a $2-billion loss. Trader Michael Zicchinolfi works on the floor of the New York Stock Exchange in New York. Financial stocks are leading the market lower in early trading after JPMorgan Chase disclosed a huge trading loss on Thursday. (AP) With more heads expected to roll, investors also punished JPMorgan’s shares, sending them down more than 2% after Friday’s 9.3% rout. The White House said the loss was more evidence of the need to place tough controls on banks seen as systemically “too big to fail”. The banks, led by JPMorgan’s Chief Executive Jamie Dimon, have fought hard to block such curbs. “This event only reinforces why it was so important to pass Wall Street Reform, why it is so important to fully implement Wall Street Reform,” said presidential spokesperson Jay Carney. “ ...
Dear President Obama, Today’s headlines say it all…. Jamie Dimon is a threat to the Fed and global banking system ... JP Morgan Debacle Reveals Fatal Flaw In Federal Reserve Thinking GET THE FOX OUT OF THE HEN HOUSE. Why is the leader of high risk complex financial products, the man demanding no regulation, in a position to make decisions about banking practices? You have been given a rare presidential opportunity. A second chance to appraise the most critical issue for America’s survival and remedy the situation before unchecked Wall Street greed creates a Great Depression. This one would be on your watch. You didn’t create the 2007–2012 Global Financial Crisis and you had the lion-heartedness to accept a country in economic meltdown and the intelligence to begin working with Bush’s financial advisors even before you were elected to try and manage the tenuous banking collapse. That’s the courageous far-sited informed Obama we voted for. But now the government has stabilized the banking cris ...
Jamie Dimon admitted to f**cking up on Press the Meat Sunday. Time to bring back Dylan Ratigan's rant last October to remind us that Wall Street is still robbing us blind!
The Associated Press New York (AP) -- Three high-ranking executives at JPMorgan Chase are expected to leave their jobs this week after a trading blunder cost the bank $2 billion, The Wall Street Journal reported Sunday. The Journal, citing people familiar with the situation, reported that one of the executives is Ina Drew, who for seven years has run the risk-management division at the bank responsible for the loss. The other two identified by the newspaper are an executive in charge of the London desk that placed the trades and a managing director on that team. The bank did not immediately return a message from The Associated Press. The $2 billion loss, disclosed on Thursday by CEO Jamie Dimon, has been an embarrassment for the bank and led lawmakers and critics of the banking industry to call for tougher regulation of Wall Street.
Let me see. Banks are vaporizing money en masse again. Since the financial train wreck of September 2008, Jamie Dimon, the CEO of JP Morgan Chase, has fought tooth and nail against any new federal regulations of Wall Street. Now with his bank's recent loss of $2 billion (and counting) involving the same credit default swaps (CDSs) that played a key role in bringing down the financial system, Mr. Dimon apparently wants us all to forgive and forget and let him get on with business as usual.
Mexico News The reputation that Jamie Dimon honed for decades on Wall Street has been severely damaged ... Mex Info
Huffington Post has a piece out today on how JP Morgan CEO Jamie Dimon's reputation on Wall Street has been hurt. $JPM
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JP Morgan has made a bad bet on Wall Street. A 2 Billion dollar trading loss was reported by a London Whale yesterday after hours. Jamie Dimon ain't shining so brightly tonight. JP Morgan considered to be amongst the best and brightest has made The Street nervous. Sometimes I think its just me.
US stock futures signal drop after JPMorgan loss US stock index futures were down on Friday, pointing to a lower open on Wall Street, after JPMorgan Chase & Co stunned investors with news of "significant mark-to-market losses" that it said could "easily get worse." Futures for the S&P 500 were down 0.42 percent, Dow Jones futures down 0.63 percent and Nasdaq 100 futures down 0.18 percent at 0910 GMT. JPMorgan Chase & Co, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon. While other gains partially offset the trading loss, the bank estimates the business unit with the portfolio will post a loss of $800 million in the current quarter, excluding private equity results and litigation expenses. The bank previously forecast the unit would make a profit of about $200 million. JPMorgan's stock traded in Frankfurt were down 6.6 percent. European stock ...
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