Washington Post (April 29, 2013)
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.
Tags: Assets, Bank of America, Citigroup, Dodd-Frank, Economy, Financial Reform, JPMorgan Chase, Too big to fail, U.S., Wells Fargo
New York Times (January 20)
“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.”
Tags: Complexity, Financial system, JPMorgan Chase, Lehman Brothers, London, Oversight, Trading loss
New York Times (February 16)
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.’”
Tags: Fraud, Hedge funds, JPMorgan Chase, Madoff
