Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Tom: Good luck on landing a "banking" job with JPMC. Call me if you need a reference. You truly belong there. I'll back you all the way. DONE! (caps)
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Tom You spare no fulminating vituperatives in castigating me for not being acquainted with banking., certainly vis-à-vis your vast knowledge and experience. You brazenly puff and rail at my ignorance, (which is none of your business, as such). You have contributed absolutely no facts to disprove my assertions. Yet, you nevertheless, never shy from name calling, again. I again refer to JPM legal costs $7.5B/yr (by the way, this is the largest legal expense of any listed stock on the NYSE). This is not, as you mistakenly assumed, payment for settlement of judgments, This figure was for attorney fees, just to litigate the numerous matters. Most have nothing to do with WAMU or BS. I list for you some of the lawsuits that JPM is involved with. Again, most have nothing to do with the two acquisitions. 1-Auction-Rate Securities Fraud. –Massively overcharging municipalities in underwriting
2-Bank Secrecy Act/Money Laundering- Needs no explanation.
3-CIO Investigation – The Giant Whale story. Inadequate monitoring of risk management
4-City of Milan Litigation and Criminal Investigation – Certain Swap transactions (2005- 2007) -“fraudulent and deceitful acts” in advisory capacity on bond issuance.
5-Enron Litigation –Yes, of course, JPM was intimately involved.
15-MTGE Foreclosure Litigation- Wrongful assignments of foreclosure notices (all banks are visiting this one)
16-Municipal Derivative Manipulations- Nearly destroying municipalities’ ability to operate by sequestering their entire tax revenue. And several more. I eagerly await your denunciation. You asked for FACTS (caps)!
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Tom Once again you resort to name calling. So let's get it straight. The article was pure BS fluff... not worthy of any comment. As you can see on a daily basis JPM is as dirty as any institution can be, and unabashedly so. Dimon is the leader and exponent of extortion and theft. Your name calling and degrading comment about my expertise are just proof of your incredible gullibility. Read today's news of FERC investigation of JPM, just one of many lawsuit troubling this outfit. You did not respond to the outrageous legal bills that Dimon incurs (7.5B/yr) to protect his aggrandizement of stolen assets. Did you know that JPM paid 1 cent on a dollar of WAMU asset to acquire the largest savings bank in America? Yes, WAMU was a terribly mismanaged bank that had run a muck and was teetering. JPM conspired with the FDIC to take WAMU down even while WAMU was shoring up its assets with a huge equity infusion. It was JPM who publicized a phoney "run on the bank" just when it called in a $30B note that it knew would sink WAMU. You rather twittle on your 25 years of banking experience. Means nothing to a reader who sees through your blatant bleating, perhaps to cur favor with JPM management for another 25 year of "deep banking experience". Your utter pandering and IGNORANCE of the facts are your defense. Please don't annoy me with your uninformed name calling. P.S .Don't quote me out of context and don't put your words into phrases that were not put there by me.
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Tom You are obviously an apologist for JPM. If its such a wonderful company than you must explain the $7.5 Billion charges in annual legal fees that this "clean" outfit supports. I won't let you be the judge my banking history knowledge. I didn't write the sweet, sweet story of the greatness of Jamie Dimon and his amazingly "clean" public appearance. I just disagreed with that assessment. If you don't like it. Tough!
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Tom There is always a story behind the headlines. Bear Stearns was no angel and neither was WAMU. When I wrote that I don't know the story of BS, I meant that there is a back door story as to why JPM sought and conquered BS. After the fuss with the payment that Jamie offered the stockholders of BS, when the price of the takeover went from $1 share to $10 the outrage subsided and the story was never fully exposed.
Don't call me ignorant of the banking world just because I notified you that I wasn't privy to the BS story. On the other hand, I am fully conversant with the JPM/WAMU affair. It won't hurt you to do some research before you start name calling.
ISS urges shareholders not only vote to split the Chairman and CEO roles at JPMorgan (JPM) - not a huge surprise - but also to boot 3 directors who sit on the board's risk policy committee. The shareholder advisory group notes it opposes directors only under "extraordinary circumstances." One of the three - Ellen Cutter - is notable for having served on AIG's board when it blew up. Another - David Cote - is CEO of Honeywell, and lacking in risk management experience at a bank. [View news story]
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
I think you are sugarcoating Dimon's "accomplishments". I don't have the whole story on Bear Stearns, but I know that that he was in the driver's seat at JPM when it conspired for over a year to take down WAMU. It wasn't pretty and he wasn't a white knight saving a drowning institution. It was more like murder by stealth. If that represents good management, than I beg your pardon. You are right. I just misunderstood that connivance and skulduggery stand for good governance in America.
Notably not sharing in the day's good vibes is JPMorgan (JPM -0.9%) as a concerted push seems underway to remove Jamie Dimon from the Chairman's role (I, II). The Oracle, however, has his back: "I'm 100% for Jamie," said Buffett in an interview ahead of Berkshire's annual meeting. Morgan's annual meeting is set for May 21. [View news story]
The Great Oracle is in bed with the bad guys. He just has a better public relations service.
JPMorgan Chase: A Swirl Of Regulatory Woes [View article]
Ok, so you like Jamie Dimon. But let's keep in mind that JPMC is an 80,000 individuals, each of which can cause a cascading waterfall that can jeopardize then institution. And, while leadership is very important, we can see by the opening sentence, that there is a moral lapse within this organisim that is becoming evident more and more as time progresses. JPM behaves and believes that it is above the law of the land. This attitude has got to come from the top. So...I strongly disar\gree with youyr analysis. Will JPM prosper? No Doubt! Will it regain its moral compass? Time will tell. I am doubtful.
AIG wins a legal battle, a federal appeals court ruling its $10B lawsuit against Bank of America (BAC) over mortgage losses belongs in state, not federal court. Filed in 2011, the case has been on hold while the venue is determined, but stems from what AIG claims were frauds and misrepresentations on $28B of MBS purchased from BofA, Merrill, and Countrywide. [View news story]
I love it. Finally! A ray of justice in the Justice system. Go for it AIG.
"Too little has been changed to avoid a repeat of the problem," says the Boston Fed's Eric Rosengren, arguing banks with broker-dealer units continue to hold too little capital. "The status quo represents an ongoing financial stability risk." The largest ones still standing are MS, UBS, GS, C, DB, CS, BAC, BCS, and JPM, and each of the U.S. ones passed the Fed stress test and are returning capital. [View news story]
As long as the financial industry continues to have a strangle hold on representation in congress and the executive office, as well as, the entire gamut of oversight agencies (OCC, SEC, FDIC etc.) , there is absolutely no chance for reform and re-establishment of sound banking in the US (and the World). When Senator Glass (of the Glass-Seagull Act) started his investigation, and ultimate conclusions, leading to this very sound Act of Congress, he began by interrogating the known culprits. After jailing one of the master ringleader (the president of National City Bank, forerunner of CITICorp), he got full cooperation and discovered the weak link. No one of such character has so far risen to the task.
It looks as if the court has approved AIG's (AIG +0.9%) $115M settlement with ex-chairman Hank Greenberg. Earlier today, the company asked a court to block the former CEO's efforts to sue the government, warning it could cause a backlash and harm business. Greenberg is suing the government on AIG]'s behalf, claiming the company was unfairly compensated during the government's bailout. [View news story]
Hank Greenberg built AIG to its present global dominance. As a Jew, he did a lot more for the nation than the "tobacco" chewing slummers. Benmoshe (Jewish) has salvaged this company after the ouster of Greenberg and the subsequent plunder by non-Jews. If "tobacco" want to indict Jews for profiting in the financial arena let him consider the BANKERS in this country who almost exclusively exclude Jews from that industry. (It has been an unannounced policy since JP Morgan ran the banking system in the 1890s). The bankers nearly put this civilization to extinction.
AIG asks a court to block Hank Greenberg's attempt to sue the U.S. government on the insurer's behalf. The company previously came under heavy criticism for even doing a due diligence consideration of joining Greenberg's suit. The board fears "incalculable harm to AIG's corporate brand and image and relationships." [View news story]
Hank Greenberg built this company and made it the superman of insurance companies. He was unceremoniously removed by Sptizer on a very iffy issue (prevalent in the industry at the time). He deserves to have his day in court and be vindicated. That IS his legacy.
Jamie Dimon is threatening to leave JPMorgan (JPM) if stripped of the Chairman role, sources say. [View news story]
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Good luck on landing a "banking" job with JPMC. Call me if you need a reference. You truly belong there. I'll back you all the way.
DONE! (caps)
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
You spare no fulminating vituperatives in castigating me for not being acquainted with banking., certainly vis-à-vis your vast knowledge and experience. You brazenly puff and rail at my ignorance, (which is none of your business, as such). You have contributed absolutely no facts to disprove my assertions. Yet, you nevertheless, never shy from name calling, again. I again refer to JPM legal costs $7.5B/yr (by the way, this is the largest legal expense of any listed stock on the NYSE). This is not, as you mistakenly assumed, payment for settlement of judgments, This figure was for attorney fees, just to litigate the numerous matters. Most have nothing to do with WAMU or BS.
I list for you some of the lawsuits that JPM is involved with. Again, most have nothing to do with the two acquisitions.
1-Auction-Rate Securities Fraud. –Massively overcharging municipalities in underwriting
2-Bank Secrecy Act/Money Laundering- Needs no explanation.
3-CIO Investigation – The Giant Whale story. Inadequate monitoring of risk management
4-City of Milan Litigation and Criminal Investigation – Certain Swap transactions (2005- 2007) -“fraudulent and deceitful acts” in advisory capacity on bond issuance.
5-Enron Litigation –Yes, of course, JPM was intimately involved.
6-FERC Matters –Rigging organized energy markets
7-Interchange Litigation –Price fixing credit card charges
8-Investment Management Litigation – Inappropriate investment advice, breach of contract, breach of fiduciary duty and gross negligence (JPM).
9-Lehman Bros – Stealing collateral put up by LEH just prior to Bankruptcy. (see my post about same at WAMU).
10- LIBOR litigation –Price fixing of London Interbank interest rates.
11-Madoff Litigation –Who else, but JPM?
12-MF Global Litigation – Wow! JPM again! Stealing collateral!
13-Motgage Backed Securities (JPM ,WAMU, BS) –Fraud! Fraud! Fraud!
14-JPM Issued Bond- Breach of warrantees.
15-MTGE Foreclosure Litigation- Wrongful assignments of foreclosure notices (all banks are visiting this one)
16-Municipal Derivative Manipulations- Nearly destroying municipalities’ ability to operate by sequestering their entire tax revenue.
And several more.
I eagerly await your denunciation. You asked for FACTS (caps)!
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Once again you resort to name calling. So let's get it straight. The article was pure BS fluff... not worthy of any comment. As you can see on a daily basis JPM is as dirty as any institution can be, and unabashedly so. Dimon is the leader and exponent of extortion and theft. Your name calling and degrading comment about my expertise are just proof of your incredible gullibility. Read today's news of FERC investigation of JPM, just one of many lawsuit troubling this outfit. You did not respond to the outrageous legal bills that Dimon incurs (7.5B/yr) to protect his aggrandizement of stolen assets. Did you know that JPM paid 1 cent on a dollar of WAMU asset to acquire the largest savings bank in America? Yes, WAMU was a terribly mismanaged bank that had run a muck and was teetering. JPM conspired with the FDIC to take WAMU down even while WAMU was shoring up its assets with a huge equity infusion. It was JPM who publicized a phoney "run on the bank" just when it called in a $30B note that it knew would sink WAMU. You rather twittle on your 25 years of banking experience. Means nothing to a reader who sees through your blatant bleating, perhaps to cur favor with JPM management for another 25 year of "deep banking experience". Your utter pandering and IGNORANCE of the facts are your defense. Please don't annoy me with your uninformed name calling. P.S .Don't quote me out of context and don't put your words into phrases that were not put there by me.
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
You are obviously an apologist for JPM. If its such a wonderful company than you must explain the $7.5 Billion charges in annual legal fees that this "clean" outfit supports. I won't let you be the judge my banking history knowledge. I didn't write the sweet, sweet story of the greatness of Jamie Dimon and his amazingly "clean" public appearance. I just disagreed with that assessment. If you don't like it. Tough!
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
There is always a story behind the headlines. Bear Stearns was no angel and neither was WAMU. When I wrote that I don't know the story of BS, I meant that there is a back door story as to why JPM sought and conquered BS. After the fuss with the payment that Jamie offered the stockholders of BS, when the price of the takeover went from $1 share to $10 the outrage subsided and the story was never fully exposed.
Don't call me ignorant of the banking world just because I notified you that I wasn't privy to the BS story. On the other hand, I am fully conversant with the JPM/WAMU affair. It won't hurt you to do some research before you start name calling.
ISS urges shareholders not only vote to split the Chairman and CEO roles at JPMorgan (JPM) - not a huge surprise - but also to boot 3 directors who sit on the board's risk policy committee. The shareholder advisory group notes it opposes directors only under "extraordinary circumstances." One of the three - Ellen Cutter - is notable for having served on AIG's board when it blew up. Another - David Cote - is CEO of Honeywell, and lacking in risk management experience at a bank. [View news story]
AIG - America's Comeback Story Is Just Getting Started [View article]
Jamie Dimon will hold a town hall-style meeting with junior bank examiners from the Office of the Comptroller of the Currency next week in an effort to "answer all staff inquiries." According to WSJ, the meeting comes on the heels of an earlier meeting with senior examiners during which Dimon was told that "regulators don't trust [the firm's] management" and believe JPM simply "isn't getting the message." Scrutiny seems to be coming to a head (I, II) lately just as Dimon is set to face shareholders this month. [View news story]
Notably not sharing in the day's good vibes is JPMorgan (JPM -0.9%) as a concerted push seems underway to remove Jamie Dimon from the Chairman's role (I, II). The Oracle, however, has his back: "I'm 100% for Jamie," said Buffett in an interview ahead of Berkshire's annual meeting. Morgan's annual meeting is set for May 21. [View news story]
JPMorgan Chase: A Swirl Of Regulatory Woes [View article]
AIG wins a legal battle, a federal appeals court ruling its $10B lawsuit against Bank of America (BAC) over mortgage losses belongs in state, not federal court. Filed in 2011, the case has been on hold while the venue is determined, but stems from what AIG claims were frauds and misrepresentations on $28B of MBS purchased from BofA, Merrill, and Countrywide. [View news story]
"Too little has been changed to avoid a repeat of the problem," says the Boston Fed's Eric Rosengren, arguing banks with broker-dealer units continue to hold too little capital. "The status quo represents an ongoing financial stability risk." The largest ones still standing are MS, UBS, GS, C, DB, CS, BAC, BCS, and JPM, and each of the U.S. ones passed the Fed stress test and are returning capital. [View news story]
When Senator Glass (of the Glass-Seagull Act) started his investigation, and ultimate conclusions, leading to this very sound Act of Congress, he began by interrogating the known culprits. After jailing one of the master ringleader (the president of National City Bank, forerunner of CITICorp), he got full cooperation and discovered the weak link. No one of such character has so far risen to the task.
It looks as if the court has approved AIG's (AIG +0.9%) $115M settlement with ex-chairman Hank Greenberg. Earlier today, the company asked a court to block the former CEO's efforts to sue the government, warning it could cause a backlash and harm business. Greenberg is suing the government on AIG]'s behalf, claiming the company was unfairly compensated during the government's bailout. [View news story]
AIG asks a court to block Hank Greenberg's attempt to sue the U.S. government on the insurer's behalf. The company previously came under heavy criticism for even doing a due diligence consideration of joining Greenberg's suit. The board fears "incalculable harm to AIG's corporate brand and image and relationships." [View news story]