Archive for June, 2012

JPMorgan loses $27 billion, and no one in finance cares

June 12, 2012

The following article is brought to you by Kat Greene at BizJournals.Com. JPMorgan Chase & Co. has deteriorated by $27 billion in market value since it told investors on May 10 it had a $2 billion trading loss. CEO Jamie Dimon is set to go before Congress Wednesday to talk about what caused the loss, […]

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Jamie Dimon must resign or be removed from the New York Federal Reserve Board of Directors

June 2, 2012

The following article is brought to you by Simon Johnson at Change.Org. Jamie Dimon is CEO of JP Morgan Chase, one of the largest and most powerful banks in the world. Because the bank is “too big to fail”, it enjoys the protection of US taxpayers. As such, Mr. Dimon has a responsibility to safeguard […]

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U.S. Audit Cites OCC Lapses in Oversight of Foreclosure Process

June 2, 2012

The following article is brought to you by Carter Dougherty at BusinessWeek.Com. The Office of the Comptroller of the Currency underestimated the risks in bank foreclosure practices from 2008 to 2010 and gave examiners a 13-year-old handbook that didn’t address how securitization affects loan documentation, a Treasury Department audit found. Treasury’s inspector general’s office reviewed […]

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Zamansky & Associates Investigates JP Morgan Chase & Co.’s Employee Retirement Plans For ERISA Violations

June 1, 2012

The following article is brought to you by Zamansky & Associates at Zamansky.Com. Zamansky & Associates LLC announces that it has commenced an investigation of the JP Morgan Chase & Co. (NYSE: JPM)’s employee retirement plan and 401(k) plan for violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties on […]

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Calls for Jamie Dimon to Leave New York Fed Grow Louder

June 1, 2012

The following article is brought to you by Danielle Kurtzleben at USNews.Com. Petition gains traction as J.P. Morgan fiasco causes many to question Fed governance. “The fox is guarding the henhouse,” says former IMF chief economist Simon Johnson of Jamie Dimon’s position on the New York Fed’s board of directors. And more than a few […]

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