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Barron’s (March 7)

2018/ 03/ 09 by jd in Global News

“Today, in response to a campaign by sustainable investors Arjuna Capital and Walden Asset Management, American Express (AXP) became the seventh financial-services company since Jan. 15 to agree to take steps to publish and close the pay gap between male and female employees. The others are Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), Bank of New York Mellon (BK), Mastercard (MA), and JPMorgan Chase (JPM).”

 

Institutional Investor (April 24)

2014/ 04/ 26 by jd in Global News

To strengthen their balance sheets, large banks (including Deutsche Bank, Royal Bank of Scotland, UBS, Morgan Stanley, JPMorgan Chase and Barclays) have been reducing their commodities businesses, mainly through sales to independent trading companies. With these sales “to smaller players, conflicts of interest remain a potential problem” and nobody’s sure whether new problems will accompany this major shift. Given the skinnier balance sheets of the new players, market liquidity could conceivably suffer. In addition, “concerns abound that the underlying problems that have traditionally beset the commodities markets are simply being pushed onto a new and less tightly regulated set of actors.”

 

Washington Post (April 29, 2013)

2013/ 04/ 30 by jd in Global News

Despite the Dodd-Frank financial reforms, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo remain too big to fail. “At $7.8 trillion, their combined assets are half the size of the entire U.S. economy, and they hold more than half of the nation’s $7 trillion in deposits.” It is unlikely that the U.S. government could ever allow any of them to fail.

 

New York Times (January 20)

2013/ 01/ 21 by jd in Global News

“A detailed report put out by JPMorgan Chase last week on how it lost $6 billion from ill-fated trading in 2012 should be required reading for policy makers and financial executives. The 129-page document serves as a case study of how excessive complexity and poor oversight still threaten many parts of the financial system more than four years after the failure of Lehman Brothers.”

 

New York Times (February 16)

2011/ 02/ 17 by jd in Global News

Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”

Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”

 

[archive]