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J.P. Morgan 'Whale' Report Signals Deeper Problem
Keywords:
JP Morgan Chase disclosed that traders in the Chief Investment Office may have tried to avoid showing the full extent of losses by placing inaccurate prices on their positions. A trader named the "London whale," may have been asked by his boss to mark positions more aggressively. CEO Dimon said this has "shaken our company to the core."
A behind the scenes account of JP Morgan Chase CEO Jamie Dimon's discovery and response to large losses
01/15/2010
Dimon's first encounter with the losses at the bank was through an account of Chief Investment Office trader Iksil's trades in the Wall Street Journal on April 6, 2012. The trader was referred to as the "London Whale" and large losses were mentioned. This has raised questions about whether banks of the size of JP Morgan can even be effectively managed by a CEO. The decision by the U.S. Federal Reserve, Treasury and regulators to encourage the merger of failed financial firms Bear Stearns and Washington Mutual with JP Morgan Chase- ostensibly because no mechanism to wind down such firms existed- not only created a mega bank but also created additional risks from banks too big to manage.
Grouped Articles
Wall Street Journal 05/04/2013
'London Whale' Penalties Put at $500 Million to $600 Million
Wall Street Journal 08/28/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
Dimon Vows to Fix JP Morgan's Compliance Problems
New York Times 09/17/2013
New York Times 10/15/2013
J.P. Morgan Reaches $13 Billion Tentative Deal with Justice Department
Wall Street Journal 10/20/2013
Conflict of Interest and appointments in the Obama White House and the Obama administration
01/06/2011
With recent government support for US banks and heavy lobbying by the banks against reform legislation, the appointment of William Daley- who heads lobbying at Chase JP Morgan- to White House Chief of Staff, creates conflict of interest say columnists.
Grouped Articles
Book portrays dysfunction in Obama White House - The Washington Post
Washington Post 09/17/2011
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
William Daley Brings Management Experience as Chief of Staff
New York Times 01/06/2011
Reich Disappointed in Obama the Centrist
New York Times 01/07/2011
Obamaâs Top Aide a Tough, Decisive Negotiator
New York Times 01/07/2011
Daley Résumé Blends Politics, Business
Wall Street Journal 01/07/2011
J.P. Morgan Chase performance 2010-2013
04/14/2011
Grouped Articles
J.P. Morgan, Regulator Near Pact
Wall Street Journal 07/21/2013
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
J.P. Morgan's Earnings Show Few Signs of Market Thaw
Wall Street Journal 04/13/2014
JP Morgan Profit Rises 67%, but Bad Loans Persist
New York Times 04/14/2011
J.P. Morgan Still Chasing Growth
Wall Street Journal 04/14/2011
At J.P. Morgan Chase, Patience Is a Capital Virtue
Wall Street Journal 07/15/2011
JP Morgan Chase and the London Whale
04/10/2012
Trader Iksil at the CIO offices in London and the huge positions he had taken which were likely to lead to losses. Chase's denial that this was anything unusual.
Grouped Articles
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
'London Whale' Penalties Put at $500 Million to $600 Million
Wall Street Journal 08/28/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
New York Times 10/15/2013
J.P. Morgan Reaches $13 Billion Tentative Deal with Justice Department
Wall Street Journal 10/20/2013
Record Pact Is on the Table, But J.P. Morgan Faces Fight
Wall Street Journal 10/21/2013
JP Morgan Chase bank management
05/15/2012
Grouped Articles
J.P. Morgan Faces Another Big Exit
Wall Street Journal 04/28/2013
Wall Street Journal 05/04/2013
A Call for New Blood on the JPMorgan Board
New York Times 05/05/2013
For Dimon, Now Is Time for Renewal
Wall Street Journal 05/27/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
JP Morgan Reported Third Quarter Loss on Legal Costs
New York Times 10/11/2013
Investments and risk management at J.P. Morgan Chase after the $2 billion trading loss in 2012
06/25/2012
Grouped Articles
Wall Street Journal 05/04/2013
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
J.P. Morgan Unit Shifts Operations
Wall Street Journal 06/25/2012
JPMorgan Trading Loss May Reach $9 Billion
New York Times 06/28/2012
J.P. Morgan Second-Quarter Profit Fell 8.7%
Wall Street Journal 07/13/2012
At J.P. Morgan, Whale & Co. Go
Wall Street Journal 07/12/2012
J.P. Morgan Chase management
06/14/2011
Grouped Articles
J.P. Morgan Faces Another Big Exit
Wall Street Journal 04/28/2013
Wall Street Journal 05/04/2013
J.P. Morgan's Dimon Aims to Stay Put
Wall Street Journal 05/20/2014
Wall Street Journal 06/20/2015
Changes in Chaseâs Top Ranks
New York Times 06/14/2011
Wall Street Journal 10/14/2011
J.P. Morgan Chase strategy
12/16/2011
Grouped Articles
J.P. Morgan, Regulator Near Pact
Wall Street Journal 07/21/2013
J.P. Morgan Shows Why It Pays to Turn Money Away
Wall Street Journal 02/25/2015
J.P. Morgan Posts Record Earnings, But Can Good Times Last?
Wall Street Journal 01/15/2016
Wall Street Journal 12/16/2011
Dimon Can't Dodge Bank Malaise
Wall Street Journal 01/14/2012
Wall Street Journal 04/15/2012
JP Morgan Chase bank performance
05/15/2012
Grouped Articles
For Dimon, Now Is Time for Renewal
Wall Street Journal 05/27/2013
J.P. Morgan, Regulator Near Pact
Wall Street Journal 07/21/2013
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
JP Morgan Reported Third Quarter Loss on Legal Costs
New York Times 10/11/2013
J.P. Morgan Reaches $13 Billion Tentative Deal with Justice Department
Wall Street Journal 10/20/2013
Fraud inquiry over transactions recorded by JP Morgan Chase trader called the"London whale"
07/13/2012
Linked Articles
J.P. Morgan 'Whale' Report Signals Deeper Problem
Wall Street Journal 07/14/2012
New Fraud Inquiry as JP Morgan Loss Mounts
New York Times 07/13/2012
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