Why did JPM hold an emergency call to discuss a trading loss equivalent to just 1% of...

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Dogpound Comments (138)
 
You telling me they didn't give us the full news last night?
11 May 2012, 10:48 AM Reply Like

bbro Comments (7896)
 
Jonathan Weil???
11 May 2012, 10:48 AM Reply Like

Stone Fox Capital Comments (4617)
 
Or maybe JMP needed to create a panic in the markets to make that 'hedge' work. Why else have a CC that wasn't needed?

That'd be like LM have a call b/c their investment in AMZN lost money intra quarter. lol
11 May 2012, 10:52 AM Reply Like

davidingeorgia Comments (2713)
 
Gosh, it's almost like you think bankers can't be trusted!
11 May 2012, 10:57 AM Reply Like

Tack Comments (9396)
 
Or, maybe, they just engaged in prompt disclosure, given all the constant whining over opacity and delay in bank matters. Seems they just can't win, no matter what they do.
11 May 2012, 11:48 AM Reply Like

davidingeorgia Comments (2713)
 
Or maybe they could stop playing with the crazy casino-style crap that keeps blowing up in their faces and then they wouldn't have to worry about people griping at them about doing it.
11 May 2012, 12:35 PM Reply Like

Garfield23 Comments (154)
 
come on Stoner, you really think they would have a CC for a trade? it was a matter of full disclosure...they had to do it bf it got too big...I'm sure they have been wranglingwith this position over the last few weeks and finally said we have to disclose this...
11 May 2012, 01:35 PM Reply Like

jailerjay Comment (1)
 
Can you say, "Deja Vu"?
11 May 2012, 11:06 AM Reply Like

Garfield23 Comments (154)
 
its small for JPM, but if it turns into a $20 or $30 billion hit, then yes here we go again....

anybody know how big the positions are right now? or how big that market cap/liability holds that CDS index was
11 May 2012, 01:40 PM Reply Like

Hubert Biagi Comments (620)
 
Fairly obvious that Dimon knew about this all along, but was hiding it from regulators in order to help JPM pass the latest government stress test. With that accomplished, Dimon needed a ploy to introduce the losses to the world. What better way than to call it an emergency, lol?
11 May 2012, 11:08 AM Reply Like

realitybiter Comments (214)
 
Could we get the CDS Queen to restate "we do not speculate, we merely hedge our customers positions"

My teeny tiny sheep brain is confused. Is the Federal Govt (customer) welching on their position? How else could this non-speculative hedge blow up?
11 May 2012, 11:15 AM Reply Like

Joe from the Beach Comments (312)
 
Intelligently run banks should never a huge short term long or short position. The profit is in the spread, everything else is a guess and has too much risk.

Long term banks should invest in long ranrge projects (ex Chase funding FEDEX for the start)
11 May 2012, 03:08 PM Reply Like

Losing Paper While Gaining ... Comments (493)
 
I'm wondering if it might be because they want to make more use of regulatory capture.

Think about it. They lost $2 billion but overall will be very profitable this quarter so it's a relatively minor loss with which they can create a LOT of fear.

What legislation might be introduced as a result of this? How might this legislation benefit JPM at the expense of its competition? Thoughts?
11 May 2012, 04:11 PM Reply Like