JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon sought to hide escalating trading losses that surpassed US$6.2 billion, misled investors and dodged regulators as a “monstrous” derivatives bet deteriorated last year, a Senate probe found.
By Dividend Kings:Although natural gas prices remain depressed in the U.S. due to unusually low demand, companies like BP that continue to focus resources on these plays will be in a better position to compete as liquid reserves are depleted. The net margin on dry gas from unconventional plays only grows as fracking becomes more sophisticated, and BP, with its experience and deep R&D budget, is prepared to exploit these opportunities.
The board of JPMorgan Chase voted Tuesday to release an internal report detailing the bad bet -- and related management missteps -- that cost the nation's largest bank more than $6 billion, according to several people familiar with the matter.
THE New York Times has a piece today tracking the latest dynamic in European bond markets, in which the European Central Bank buys the debt of troubled countries in an effort to convince traders there's no money to be made betting against those countries. And yet the traders keep on betting against those countries!
Investors have been pouring their money into U.S. Treasuries all year, much to the consternation of bond guru Bill Gross, who had been advocating for investors to dump out of government debt because of their low yields.