Breakingviews

JPMorgan offers peek into trading magic circle

February 29, 2012

Investment bank boss Jes Staley has broken Wall Street’s code by revealing new data on how much the firm rakes in as a market-maker. It won’t quell suspicions that some of it is really prop trading. But it sheds useful light - and may whet investors’ appetite for even more info.

Winters ouster has eerie echoes of Citi

September 30, 2009

Has JPMorgan's Jamie Dimon done to Bill Winters what Sandy Weill did to him at Citigroup just over a decade ago? There are certainly eerie parallels. One can only hope for JPMorgan's sake that the consequences are different.

Beware the bull market in derivatives

September 29, 2009

The Dow is near 10,000 again. The business press is full of stories about the resurgence in mergers, IPOs and even so-called blank check companies. There's one statistic, however, that should give investors pause: the growth in the total dollar value of derivative contracts at the top too-big-to-fail U.S. banks.