Jamie Dimon

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Jamie Dimon Should Be on Trial

 Jamie Dimon 
 Should Be 
 on Trial 
OPINION
May 14, 2012 10:48 AM CDT

Jamie Dimon Should Be on Trial

JPMorgan boss should face public questioning: Alex Pareene

(Newser) - JPMorgan lost $2 billion last week, and it's time for the bank's CEO to answer for it. Congressional questioning isn't enough: Jamie Dimon should be required, ideally on prime-time TV, "to answer questions plainly and clearly, to an unfriendly audience of non-Davos people," Alex...

Heads Roll at JPMorgan Over $2B Trade Loss

CEO Jamie Dimon will accept at least three resignations

(Newser) - JPMorgan's disastrous $2 billion trading loss has officially claimed its first casualty. Chief Investment Officer Ina R. Drew, a 30-year veteran of JPMorgan and one of Wall Street's most prominent women, retired today, the AP reports. Drew was responsible for overseeing the disastrous trades. Executives say she ordered...

RNC Chair: Gays Deserve Dignity, Not Marriage
 RNC Chair: 
 Gays Deserve 
 Dignity, Not 
 Marriage 
TALK SHOW ROUNDUP
May 13, 2012 1:25 PM CDT

RNC Chair: Gays Deserve Dignity, Not Marriage

Reince Priebus says debate ought to be respectful, but marriage for one man, one woman

(Newser) - Gay marriage, a topic of some small amount of discussion this week, ruled the talk shows today, with RNC Chair Reince Priebus tackling the subject head-on : "People in this country, no matter straight or gay, deserve dignity and respect. However, that doesn't mean it carries on to marriage,...

JPMorgan CEO Dimon: We Were &#39;Dead Wrong&#39;
 JPMorgan 
 CEO Dimon: 
 We Were 
 'Dead Wrong' 
SUNDAY TALK SHOWS
May 13, 2012 10:56 AM CDT

JPMorgan CEO Dimon: We Were 'Dead Wrong'

Jamie Dimon apologizes for bank's 'stupid' behavior in $2B loss

(Newser) - Remember that endless line of Wall Street's elite giving their mea culpas over the financial crisis? Neither do we. But JPMorgan CEO Jamie Dimon today got on national television to apologize in no uncertain terms for his company's "egregious mistake" in losing $2 billion in six weeks...

JPMorgan Chase Pushed for Trading Loophole

What could possibly go wrong?

(Newser) - Jamie Dimon and other top executives at JPMorgan Chase personally pushed for loopholes in the nation's new regulatory laws allowing for the type of risky trading that resulted in the bank's new $2 billion loss , reports the New York Times . In fact, one meeting in February between bank...

JPMorgan: 'Sloppiness' Cost Us $2B in 6 Weeks

'London whale' loss stuns financial world, could trigger calls for more regs

(Newser) - JPMorgan Chase has stunned the financial world by disclosing trading losses of $2 billion since the beginning of April, caused by what CEO Jamie Dimon calls "errors," "sloppiness" and "bad judgment." The losses came from bad trades made by a unit that was supposed to...

Global Bank Rules 'Anti-US': JPMorgan CEO

Jamie Dimon suggests US exit Basel group

(Newser) - A new set of international banking regulations are “anti-American,” the CEO of JPMorgan Chase tells the Financial Times —so much so that the US should seriously consider quitting the regulatory group that set the rules. The Basel group’s new regulations require banks to balance risk-taking by...

JPMorgan CEO Gets 1500% Raise

Plus, see what other CEOs made in 2010

(Newser) - Jamie Dimon had a pretty decent year: The JPMorgan CEO, who steered his bank through Wall Street's meltdown and saw it emerge as arguably the healthiest US bank, took home $20.8 million last year. That's up roughly 1500% over his $1.3 million compensation package the year before, notes...

Wall Street Dumps Dems: Donations Down 65%

Upset about financial reform, banks keep their cash

(Newser) - Democrats are feeling the wrath of a financial sector scorned. Wall Street donations to the Democrats’ two congressional campaign committees are down 65% from the 2008 election cycle, the Washington Post reports. Big donors in general are staying away, giving just $49.5 million, compared to $81.3 million in...

Senators Swarmed by Lobbyists Fighting Finance Overhaul

Regulating derivatives could cost the banks billions

(Newser) - Proponents of greater financial regulation are facing fierce opposition from a swarm of lobbyists, lawyers, and bankers who have descended on the Senate committee whose chair, Blanche Lincoln, introduced the bill to overhaul the derivatives market. It's not the finance but the agriculture committee, the New York Times reports, and...

Wall St.'s Top Bonuses Go to No-Names

Lloyd Blankfein's pay looks puny compared to John Stumpf's

(Newser) - In the public imagination, Goldman Sachs gives the biggest bonuses around, but this year CEO Lloyd Blankfein’s $9.6 million payday doesn’t even crack the top 10 in the financial industry. Instead, the top spot is occupied by decidedly less famous Wells Fargo CEO John Stumpf, who pulled...

Obama Is 'Clueless' on Bank Bonuses
 Obama Is 
 'Clueless' 
 on Bank 
 Bonuses 
paul krugman
Feb 10, 2010 1:36 PM CST

Obama Is 'Clueless' on Bank Bonuses

Krugman: Comparison to baseball payouts is outrageous

(Newser) - Paul Krugman is among those seriously ticked off after President Obama declared he doesn't "begrudge" the fat bonuses going to bankers Jamie Dimon and Lloyd Blankfein. "How is it possible, at this late date, for Obama to be this clueless?" Krugman asks in his New York Times blog...

Obama OK With Fat Bonuses for Blankfein, Dimon

Compares bank CEOs to overpaid baseball players

(Newser) - Barack Obama says he’s down with the combined $26 million in bonuses that the CEOs of Goldman Sachs and JPMorgan are getting paid this year. “I know both those guys; they are very savvy businessmen,” Obama tells Bloomberg. “I, like most of the American people, don’...

Goldman Sachs Gives Blankfein $9M Bonus

CEO receives units of stock that can't be sold for 5 years

(Newser) - Lloyd Blankfein's bonus for 2009 is $9 million, Goldman Sachs said today—a nice bump from last year's zero, but a far cry from the $67.9 million the CEO scored in 2007 and from the $100 million he was reportedly expecting. " The firm produced very good results for...

Crisis Probe Bares Fools' Guilt-Free Fantasy
Crisis Probe Bares Fools' Guilt-Free Fantasy
PAUL KRUGMAN
Jan 15, 2010 2:37 AM CST

Crisis Probe Bares Fools' Guilt-Free Fantasy

Deregulation, greed made crash inevitable

(Newser) - The Financial Crisis Inquiry Commission hasn't extracted admissions of wrongdoing from top bankers, but it has exposed stunning cluelessness among the captains of American finance, writes Paul Krugman. The honchos testified that a financial crisis is something that just happens from time to time, Krugman writes in the New York ...

Wall Street's Finest Head to DC Showdown

Commission styled after 9/11 inquiry probes meltdown

(Newser) - Four of Wall Street's fattest fatcats are headed to Washington this morning to do some explaining about how exactly it was that the United States of America came to teeter on the brink of financial Armageddon. A 9/11 Commission-style panel appointed by Congress has the job of writing the narrative...

Obama Prods 'Fat Cat' Bankers on Reform, Loans

Meeting sparsely attended thanks to weather

(Newser) - Less than 24 hours after jabbing at "fat cat bankers," Barack Obama rounded up every one of them he could find and prodded them to lend more, modify mortgages, and get behind financial reform methods. "America's banks received extraordinary assistance from American taxpayers to rebuild their industry,...

Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah
Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah
NO DIMON IN THIS ROUGH
Nov 23, 2009 10:00 PM CST

Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah

Jamie Dimon not in tune with Obama, too invested in big banks

(Newser) - A report today that JPMorgan Chase CEO Jamie Dimon has the inside track to replace Timothy Geithner as Treasury Secretary is getting mostly guffaws online, with even the conservative Wall Street Journal admitting that Dimon’s way too much an insider for the job just now. Indeed, chuckles Daniel Indiviglio...

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

(Newser) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on...

US Bankers' Pay Is World's Highest—by Far

(Newser) - US bank CEOs are paid drastically more than their counterparts around the world. The CEO of Commercial Bank of China, the largest bank in the world, brings home just $234,700 a year—or roughly 2% of JP Morgan boss Jamie Dimon’s $19.6 million haul. The US has...

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