Updated | The notion that the trades which caused the losses by JPM were put on in the last six months or so seems to have been widely accepted in the media. But is this really the case?
We will only learn about currency risk exposures as and when the creditors disclose same to investors. In the meantime, we’ll have lots of fun watching media spin their wheels over the game of “find the risk”
H.R. 5326 decimates the statistical agencies that support the entire fabric of business investment, policy-making, and decision-making in the United States.
As either taxpayers or long-term JPM investors, we should be more grateful than sorry about the JPM CIO Ina Drew.
Jamie Dimon seems to have handed his head to Chairman Vocker and the advocates of regulation with this error.
Overall, EverBank is showing good current performance, but some of the asset quality factors and trends that I see are of concern for the future.
The real problem with CDS trading by large banks such as JPM is not the speculative positions but instead the vast conflict of interest between the lending side of the house and the trading side
Unfortunately, nobody in the Treasury seems to want to deal with the mess at Ally Financial before Election Day. But the question is whether Ally can wait until then.
CA AG Kamala Harris wants to change CA from a non-judicial state into a judicial state for foreclosures. Disaster.
Wherein Tom Day of Sungard drops out of hyperspace just long enough to write the following missive on the PRMIA DC web rant soapbox and get a few hours sleeep. Ode to Frank Partnoy. -- Chris
And the real lesson, dear friends, is that the good old USA is a subprime nation
Do not trust any government. Nothing new here. This Greek government invoked the collective action clause (CAC). It retroactively inserted provisions in a debt contract and then imposed them.
The cash settlement world of OTC derivatives is not investing, but gaming. And the House sets the rules.
The Volcker Rule ignores the most basic and elementary facts about bank risk taking in the financial markets and must hurt overall liquidity among financial intermediaries and investors.