Wall Street Journal (blog)Accounting For The JP Morgan Whale TradesForbesAm I shocked that no mainstream media outlet has yet sought to explain in accounting terms the stunning announcement made by Jamie Dimon a week ago last Thursday of a $2 billion l…
JPMorgan's Home-Loan Debt in Europe Increases Anxiety: MortgagesSan Francisco ChronicleMay 21 (Bloomberg) — JPMorgan Chase & Co.'s holdings of home-loan bonds from outside the US soared 35-fold in the past three years. Now, with its chief …
JPMorgan's Home-Loan Debt in Europe Increases Anxiety: MortgagesBusinessWeekBy Jody Shenn and Esteban Duarte on May 20, 2012 JPMorgan Chase & Co. (JPM) (JPM)'s holdings of home-loan bonds from outside the US soared 35-fold in the past three…
What JP Morgan Chase Forgot About 2008ForbesJP Morgan Chase's chief investment office accumulated a huge bet– maybe $100 billion– in a so-called “weapon of mass destruction” (as in self-destruct) in a very risky credit default swap contract…
Moneycontrol.comJPMorgan to be haunted by change in risk modelEconomic TimesJPMorgan Chase & Co's decision to radically change the way risk was measured in its Chief Investment Office is likely to dog the bank in the developing crisis over the …
JPMorgan Chase (NYSE: JPM) beleaguered CEO Jamie Dimon will not be happy when he reads through Friday’s papers.
The Financial Times reported that more than a dozen senior traders and credit experts know that JPMorgan is in a lot more trouble than just suffering $2.3 billion – and counting – in losses.
Turns out the unit at JPMorgan that’s responsible for the loss has been the biggest buyer of European mortgage-backed bonds and other complex debt securities in all markets for three years.
Now JPMorgan has built up positions totaling $100 billion in the same risky financial products that triggered the financial crisis in 2008.
But anyone who followed Money Morning‘s Shah Gilani as he covered the topic knew this was a likely hidden truth.
You see, Gilani told us last Sunday, just days after news of the losses broke, that there was more to these trades than one hedge-gone-wrong.
“The idiots at the bank wanted to hedge against European credit exposure that they had,” Gilani wrote last to his Wall Street Insights and Indictments readers. “They are idiots because the money that’s shepherded by the Chief Investment Office (some $379 billion, yeah, that number is right) is money that the bank has and hasn’t lent out, or technically is “available” to play with. And instead of parking it in U.S. government bonds (Citi has $293 billion of the same float and has 87% of it parked in “governments”), they parked a lot of it in Europe’s crappy credit markets.”
JP Morgan’s chief investment office earned $5 billion over the past three years. Today, the New York Times reports an estimated loss on the “London…
BloombergJPMorgan says Macris to transition out of CIO unitCNBC.com(Reuters) – JPMorgan Chase & Co's Achilles Macris will "transition his CIO responsibilities" after massive losses in the firm's Chief Investment Office, the new he…
Matt Zames, the executive tapped to take over management of JPMorgan Chase(JPM_)’s chief investment office (CIO), has a controversial resume… Zames allegedly told a colleague…
David Olson, a former head of credit trading in JPMorgan Chase & Co. (JPM)’s chief investment office, learned about risk as a U.S. Navy nuclear submarine…
