JPMorgan Chase & Co., the nation’s largest bank, announced Thursday that it had lost $2 billion in risky trades over the past six weeks. It adds fuel to the argument that Wall Street needs to be more heavily regulated.
The JPMorgan Chase $2 billion loss again shows why big banks pose a big risk – as seen in the admission of mismanagement by Jamie Dimon. The selfless purpose of a financial system in the economy must override the selfish risks of giantness in banks.
'We’re on the right track' isn’t a sufficient plan. The President has to offer the nation a clear, bold strategy for boosting the economy.
Britain launches the Big Society Bank to invest in social causes while China, Europe, and the US worry about big banks becoming big liabilities.
According to the Dallas Federal Reserve, one of the nation's most conservative regional banks, taxpayers will be on the hook for another giant Wall Street bailout, and the economy won’t be mended, unless the nation’s biggest banks are broken up.
The fight over raising levies on the wealthy, a theme of the 'Occupy Wall Street' protests, is about more than money. It's a clash over fundamental American values.
AFL-CIO President Richard Trumka suggests that there are deep flaws in the Texas job-creation model touted by Gov. Rick Perry, a GOP presidential candidate.
Natural gas shale companies' financial statements don't add up, says Dallas Fed advisory member. Companies have high leverage, little cash, and very low estimates for natural gas extraction, she says.
After gains early in the day, the session closed lower, with the Dow declining about 19 points
Interest rates were supposed to be kept low by the Federal Reserve's bond-buying program. Ben Bernanke will meet with the press on Wednesday, and investors will listen for clues about when the Fed might change its policy with interest rates.