Credit Writedowns » JPMorgan http://www.creditwritedowns.com Finance, Economics and Markets Wed, 23 May 2012 16:15:53 +0000 en hourly 1 [Premium] Daily commentary: On Facebook’s IPO, JPMorgan’s losses, Spain’s bank run and Greece’s exit http://www.creditwritedowns.com/2012/05/on-facebooks-ipo-jpmorgans-losses-spains-bank-run-and-greeces-exit.html http://www.creditwritedowns.com/2012/05/on-facebooks-ipo-jpmorgans-losses-spains-bank-run-and-greeces-exit.html#comments Mon, 21 May 2012 19:35:49 +0000 Edward Harrison http://www.creditwritedowns.com/?p=44736 As always, I have a lot of links on Monday. Three or four stories have dominated the news in each market for the past week. In the US, it is about either JPMorgan Chase's escalating losses, Facebook's IPO or the general aimlessness of the market. In Europe, the dual stories are Greece and Spain. In Greece, the talk is of an imminent exit from the eurozone, while in Spain the question revolves around Spanish bank insolvency. Other news outside of the G8 has been pushed to the side

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[Premium] Daily commentary: On Facebook’s IPO, JPMorgan’s losses, Spain’s bank run and Greece’s exit originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2012/05/on-facebooks-ipo-jpmorgans-losses-spains-bank-run-and-greeces-exit.html/feed/ 0 On JPM’s Dimon’s still unassailable position and Facebook as the new Yahoo http://www.creditwritedowns.com/2012/05/on-jpms-dimons-still-unassailable-position-and-facebook-as-the-new-yahoo.html http://www.creditwritedowns.com/2012/05/on-jpms-dimons-still-unassailable-position-and-facebook-as-the-new-yahoo.html#comments Wed, 16 May 2012 19:30:42 +0000 Edward Harrison http://www.creditwritedowns.com/?p=44660 I spoke to Paul Waldie and Brian Milner of the Globe & Mail on BNN's headline on Monday. The big story was JPMorgan Chase and the London Whale trades. JPMorgan Chase's CEO Jamie Dimon, as the leading lobbyists for the hands-off regulatory approach for US banks, has become a lightning rod for criticism of too big to fail banks in the US. Even so, I think it's unlikely that Dimon will be forced out of his position. We also talked about Yahoo and the oversubscribed Facebook IPO. They are going to have to execute really, really well to justify the IPO valuation

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On JPM’s Dimon’s still unassailable position and Facebook as the new Yahoo originally appeared on Credit Writedowns

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Related Posts No related posts. ]]> http://www.creditwritedowns.com/2012/05/on-jpms-dimons-still-unassailable-position-and-facebook-as-the-new-yahoo.html/feed/ 2 [Premium] Daily commentary: On JPMorgan’s gigantic mistake http://www.creditwritedowns.com/2012/05/on-jpmorgans-gigantic-mistake.html http://www.creditwritedowns.com/2012/05/on-jpmorgans-gigantic-mistake.html#comments Mon, 14 May 2012 20:36:10 +0000 Edward Harrison http://www.creditwritedowns.com/?p=44615 The big headline today is still JPMorgan Chase and it's huge trading losses. Clearly this is a black eye for JPM but the question goes to what longer term consequences the incident will have

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[Premium] Daily commentary: On JPMorgan’s gigantic mistake originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2012/05/on-jpmorgans-gigantic-mistake.html/feed/ 0 The FHFA Complaints and Control Fraud http://www.creditwritedowns.com/2011/09/fhfa-complaints-and-control-fraud.html http://www.creditwritedowns.com/2011/09/fhfa-complaints-and-control-fraud.html#comments Wed, 07 Sep 2011 19:30:41 +0000 William Black http://www.creditwritedowns.com/?p=32175 The FHFA complaints lose explanatory power and persuasiveness because they ignore compensation and accounting. It pays to understand accounting control fraud

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The FHFA Complaints and Control Fraud originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2011/09/fhfa-complaints-and-control-fraud.html/feed/ 2 Ben Bernanke and J.P. Morgan on Gold http://www.creditwritedowns.com/2011/08/ben-bernanke-and-j-p-morgan-on-gold.html http://www.creditwritedowns.com/2011/08/ben-bernanke-and-j-p-morgan-on-gold.html#comments Tue, 02 Aug 2011 15:22:33 +0000 Frederick Sheehan http://www.creditwritedowns.com/?p=30630 On July 13, 2011 Chairman Bernanke explained: "The reason people hold gold is protection against tail risk, really, really, bad outcomes. To the extent that the last few years have made people more worried about the potential of a major crisis, then they hold gold as a protection."

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Ben Bernanke and J.P. Morgan on Gold originally appeared on Credit Writedowns

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Related Posts No related posts. ]]> http://www.creditwritedowns.com/2011/08/ben-bernanke-and-j-p-morgan-on-gold.html/feed/ 0 Simon Johnson: ‘We have done nothing that will prevent this from happening again’ http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html#comments Mon, 18 Apr 2011 11:30:00 +0000 Edward Harrison http://www.creditwritedowns.com/?p=27594

Here's the question: Can sovereignty and effective international supervision be reconciled when it comes to complex large financial institutions? Simon Johnson lays out a compelling case that they cannot. As he has said time and again, there is no meaningful resolution authority capable of dealing with large complex cross-border institutions like Lehman Brothers. We either let them fail like Lehman or bail them out.

Meanwhile people like Tim Geithner are arguing that financial institutions should be allowed to get even bigger.

Video below.

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Simon Johnson: ‘We have done nothing that will prevent this from happening again’ originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html/feed/ 2 Banks Harassing and Foreclosing on U.S. Soldiers http://www.creditwritedowns.com/2011/02/banks-harassing-and-foreclosing-on-u-s-soldiers.html http://www.creditwritedowns.com/2011/02/banks-harassing-and-foreclosing-on-u-s-soldiers.html#comments Thu, 10 Feb 2011 13:05:31 +0000 Edward Harrison http://www.creditwritedowns.com/?p=25981 This is from the testimony in the video below: Soldier’s wife: I’m dealing with Chase, getting their phone calls, getting their harassment around the clock. My husband Jonathan missed two hours of our daughter’s birthday party, because Chase simply would not hang up the phone until he made a payment in which we have already

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Banks Harassing and Foreclosing on U.S. Soldiers originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2011/02/banks-harassing-and-foreclosing-on-u-s-soldiers.html/feed/ 0 Jamie Dimon on CNBC http://www.creditwritedowns.com/2011/01/jamie-dimon-on-cnbc.html http://www.creditwritedowns.com/2011/01/jamie-dimon-on-cnbc.html#comments Fri, 14 Jan 2011 18:00:39 +0000 Edward Harrison http://www.creditwritedowns.com/?p=25444 Jamie Dimon’s 17-minute interview by Maria Bartiromo below was done earlier in the week before JPMorgan Chase released their numbers. The numbers were good, showing quarterly profits of $4.8 billion or $1.12 a share. Dimon expects to resume a dividend of 75 cents a share when his firm gets the green light to do so.

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Jamie Dimon on CNBC originally appeared on Credit Writedowns

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Related Posts ]]> http://www.creditwritedowns.com/2011/01/jamie-dimon-on-cnbc.html/feed/ 0 Banks Making Shed Loads But Fannie And Freddie May Be “Losing Money as a Matter of Policy” http://www.creditwritedowns.com/2010/05/banks-making-shed-loads-but-fannie-and-freddie-may-be-losing-money-as-a-matter-of-policy.html http://www.creditwritedowns.com/2010/05/banks-making-shed-loads-but-fannie-and-freddie-may-be-losing-money-as-a-matter-of-policy.html#comments Thu, 20 May 2010 19:25:59 +0000 Edward Harrison http://www.creditwritedowns.com/2010/05/banks-making-shed-loads-but-fannie-and-freddie-may-be-losing-money-as-a-matter-of-policy.html The FDIC is out with its Quarterly Banking Profile for Q1 2010. And despite a rise in the FDIC’s ‘Problem List of Banks’ to 775 in Q1 from 702 at the end of 2009 and 552 in Q3 2009, banks earned a ton of money – more than $18 billion in the quarter. Big banks

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Related Posts ]]> http://www.creditwritedowns.com/2010/05/banks-making-shed-loads-but-fannie-and-freddie-may-be-losing-money-as-a-matter-of-policy.html/feed/ 2 Free money: JPM paid to borrow on $271 billion worth of repos http://www.creditwritedowns.com/2010/04/free-money-the-government-paid-jpm-to-borrow-on-271-billion-worth-of-repos.html http://www.creditwritedowns.com/2010/04/free-money-the-government-paid-jpm-to-borrow-on-271-billion-worth-of-repos.html#comments Fri, 16 Apr 2010 14:14:45 +0000 Edward Harrison http://www.creditwritedowns.com/2010/04/free-money-the-government-paid-jpm-to-borrow-on-271-billion-worth-of-repos.html We know that JPMorgan is not substantially increasing lending anytime soon. And we also know that banks are recapitalizing courtesy of a steep yield curve and near zero rates, what I would call free money.  What I didn’t know is how free these funds truly were. An investor friend pointed out something curious buried deep

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Free money: JPM paid to borrow on $271 billion worth of repos originally appeared on Credit Writedowns

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