Topic: Jamie Dimon
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The New Economy Greed is (not) good. Here's a better capitalism.
Profit should not be the sole goal of business. Profit should be the byproduct of business excellence.
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Robert Reich Big bank engineer rejects big banks. Will Obama and Romney follow?
Sandy Weill, who was instrumental in Wall Street banks becoming "too big to fail," has come out in favor of breaking up the big banks. Will one of the presidential candidates take up Weill's proposal?
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Robert Reich Mitt Romney, Bain Capital and the New Gilded Age
The system that made Mitt Romney's fortunes at Bain Capital is the same one largely responsible for the greatest concentration of the nation’s income and wealth at the very top since the Gilded Age of the nineteenth century.
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Moody's ratings cut for giant banks: a new weight on US economy
Moody's downgrade of the US banking system, following turmoil in Europe's banking sector, is a blow to reputation of banks but is not expected to tip the economy into recession.
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Robert Reich Dimon in the rough: Keeping regulators off of Wall Street
The main regulator of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks. But JPMorgan CEO Jamie Dimon would greatly prefer this not happen.
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The Vote 'Robin Hood tax': What is it and why does Occupy want it?
As Jamie Dimon testifies before Congress (again), Occupy protesters don pointy hats to promote the 'Robin Hood tax' on stock and bond transactions – an idea Washington opposes.
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US stocks end lower as Europe teeters
The Dow average shed 77 points to end at 12,496 after another day of volatile trading around the globe. The Dow had been down as much as 120 points and up as much as 24 points. This follows triple-digit gains on Tuesday and losses on Monday.
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What Jamie Dimon told Congress: four key points
Before the Senate Banking Committee, Jamie Dimon, JP Morgan's CEO, apologized again for the firm's $2 billion loss last month. Here are some nuggets from his two hours of testimony.
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The Monitor's View: Lessons in risk for JPMorgan Chase chief
JPMorgan Chase bank chief Jamie Dimon explained his bank's $2 billion trading loss to Congress, revealing a lesson in not being complacent about risk management – a difficult task in a complex world of diffuse risks.
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US business leaders defend tea party, anonymous political ads
The top officials at the US Chamber of Commerce scold Congress over stalled transportation bill. But they defend tea partyers as 'people who believe in conservative economic policies.'
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Sell in May and go away: Stocks close dismal month
With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. The Dow closed down 26 points on Thursday to end the month at 12393.
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Robert Reich Obama should attack what Bain and JPMorgan have in common
Rather than lobbing generalized attacks at Mitt Romney and American business, Obama should attack a particular kind of capitalism that Romney and JPMorgan both practice: using other peoples’ money to make big bets which, if they go wrong, can wreak havoc on the economy.
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Chamber of Commerce president: don't overreact to JPMorgan losses
US Chamber of Commerce president Thomas Donohue, at a Monitor breakfast Monday, advised a wait-and-see approach after JPMorgan's $2 billion in trading losses.
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Robert Reich Obama's disappointing response to JPMorgan Chase
Even if he didn't want to criticize Jamie Dimon, the president could have used the occasion of JPMorgan Chase's $2 billion trading loss to come out squarely in favor of tougher financial regulation. He didn't.
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Key Republican lawmaker questions JP Morgan loss
The chairperson of the House Financial Services subcommittee, Shelley Moore Capito, discussed the loss during hearings.
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JPMorgan Chase trading fiasco: What to do about big banks?
JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
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JP Morgan chief apologizes for $2 billion loss
Jamie Dimon, the CEO of the bank, told shareholders that the loss should have never happened.
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JP Morgan loss: Did US regulators know what CEO Jamie Dimon apparently didn't? (+video)
Federal regulators embedded at JP Morgan are supposed to get the reports that CEO Jamie Dimon gets. But in the case of JP Morgan's $2 billion loss, that might not have been much help.
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JPMorgan Chase shareholders to confront CEO Dimon
The nation's largest bank holds its annual meeting Tuesday in Tampa, Florida, where it's expected that some shareholders will ask Jamie Dimon to divest himself of one of his twin roles.
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Ina Drew retiring after JPMorgan losses. Will she get $14.7 million?
Ina Drew, at the center of JPMorgan's stunning loss, was among its highest-paid executives. Proxy statement says Ina Drew would be entitled to nearly $14.7 million if she met 'full-career eligibility.'
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JP Morgan losses send Wall Street back to Capitol Hill (+video)
Congressional critics plan hearings to probe how America's largest bank posted $2 billion in trading losses – and whether new financial regulations, still being implemented, go far enough to rein in Wall Street abuses
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JPMorgan Chase: Loss to force three executives to resign?
JPMorgan Chase loss of $2 billion has caused Chief Investment Officer Drew to tender her resignation, a source says. Two of her subordinates involved in the JPMorgan Chase loss are also expected to resign.
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JPMorgan CEO Jamie Dimon: I was 'dead wrong' about trading concerns
JPMorgan Chase CEO Jamie Dimon said he was 'dead wrong' when he dismissed concerns about the bank's trading last month. The bank disclosed a $2 billion loss last week.
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Robert Reich JPMorgan collapse: Can we regulate Wall Street now?
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.
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The Monitor's View: What next for JPMorgan Chase and Jamie Dimon after $2 billion loss
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.
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