Breakingviews

Blaming London for bank botches is too convenient

June 25, 2012

Say what you will about JPMorgan’s stupid trades, the bank has at least owned up to its failings. That’s more than can be said for U.S. authorities, who are instead pointing fingers at their UK counterparts. It should light a fire under dragging global coordination efforts.

Jamie Dimon can’t swim past the whale just yet

July 13, 2012

The JPMorgan boss reckons the CIO trading debacle is behind him. Explanations and fixes from Dimon and his deputies are solid. But it’s still unclear if they’ll pay a price. And newly revealed bad risk data and mismarked trades mean JPMorgan still has a lot of trust to win back.

JPMorgan board goes soft on Jamie Dimon over whale

January 17, 2013

The bank’s 132-page report into the trades that cost it $6.2 bln dishes out blame to several now departed managers. But it just echoes the chairman and CEO’s own mea culpa. The $10 mln docked from Dimon’s pay will sting but the board could do more, like removing one of his hats.

JPMorgan flaws should ring alarms everywhere

January 18, 2013

The huge U.S. bank is supposed to be among the top risk managers. If the conflicting mandates, discredited theory, inadequate checks and primitive technology behind its $6.2 bln trading losses in 2012 are really as good as it gets, plenty of regulators and investors should worry.

JPMorgan pays price for embarrassing regulators

September 19, 2013

The bank is close to a $700 mln Whale-trade deal. It’s the rancid cherry on the cake CEO Jamie Dimon baked with shareholders’ flour and eggs, making watchdogs look stupid after years of chiding them. It’s unlikely to cost him his job. But it’s a good lesson in hubris management.