It is clearly evident that certain global large banks will not be allowed to fail. Continue to article |
The five-year anniversary of the financial crisis is a bit more than a month away (Lehman weekend!) and for most of the last four years, the story on U.S. regulators has been one of basic ineptitude: Continue to article |
The Financial Stability Board said an extended version of its guidance on the resolution of systemically important banks will apply to non-bank financial institutions, such as Allianz SE and other large insurers. Continue to article |
Bruno Iksil, the former JPMorgan Chase & Co. (JPM) trader whose bets caused more than $6.2 billion in losses last year, is now central to any U.S. charges against his former colleagues. Continue to article |
As federal authorities prepare to charge criminally two former JPMorgan Chase employees suspected of misrepresenting a multibillion-dollar trading loss last year, prosecutors in Manhattan are separately exploring ways to penalize the bank over the trading blowup that has come to be known as the "London Whale." Continue to article |
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The top U.S. derivatives regulator subpoenaed Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) for documents relating to their warehouses for aluminum and other metals, according to two people with knowledge of the probe. Continue to article |
As usual, it does not pay to be one of the little guys in banking. |
Things heard in the Goldman Sachs elevators do not stay in the Goldman Sachs elevators. Continue to article |
A federal judge in Florida has thrown out a lawsuit accusing the U.S. Securities and Exchange Commission of negligence for failing to report that the now-imprisoned swindler Allen Stanford was running a $7.2 billion Ponzi scheme. Continue to article |
New York's top banking regulator sent subpoenas to 22 digital-currency companies, including BitInstant LLC and Dwolla Corp., to determine whether new regulations should be adopted to govern the emerging industry, according to a person familiar with the matter. Continue to article |
No wonder JPMorgan Chase is too big to fail: It's squeezing at least two very different banks inside one. Continue to article |
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