JPMorgan's Hedging Losses Invite A Political Response

* Investment bank bet against CIO in derivatives market * Bank said to have discussed merging opposing trade books * Opposing bets could fuel claim JPM is too big to manage

For those curious about the timeline of the world's biggest prop-desk blow up, here it is day by day and, pardon the pun, blow by blow. Nov. 2006    Bank authorizes Chief Investment Office (CIO) to trade credit derivatives. 2008    Synthetic Credit Portfolio (SCP) acquires its name. 2009    As financial crisis eases, SCP earns $1 billion. 2010   

In a special conference call this evening Jamie Dimon, CEO of JPMorgan disclosed a "trading loss" of at least $2 billion from a failed hedging strategy. The strategy "morphed over time" and it was "ineffective, poorly monitored, poorly constructed and all of that," said Dimon. Last month, Dimon he denied there were any problems, most likely hoping they would go away or he could cover them up. Instead, Dimon went to the confessional.

WestJet Airlines Var (WJAVF.PK) Bank of America Merrill Lynch 2013 Global Transportation Conference Call May 16, 2013, 08:40 am ET Executives Gregg Saretsky - President & CEO Analysts Glenn Engel - Bank of America Merrill Lynch Presentation [Abrupt Start] Glenn Engel - Bank of America Merrill Lynch

By Marvin Clark: JPMorgan Chase (JPM) on Thursday, after the market close, announced a $2 billion hedging loss against a $100 billion derivative portfolio, by the company's chief investment officer (CIO). On Friday the market punished J.P. Morgan by dropping the price of the stock 9%, closing slightly above $36 dollar a share.

For more than 18 years David Allan, one of the pioneers of the biotechnology investing world, has been a director of YM BioSciences Inc. For 12 of those years, Allan, who co-founded one of the first knowledge-based industries group at a Canadian investment bank, was chief executive before becoming president of the U.S. subsidiary.

By Qineqt:Today, JPMorgan (JPM) released its second-quarter earnings results, with revenues exceeding consensus estimates. However, earnings remained below consensus estimates, as is shown in the table below: JPM 2Q2012 Results

By Richard Bloch:Business Insider reported that JP Morgan (JPM) recently "adjusted" the models they use to calculate their risk, or more specifically "value at risk," this in view of course, of the JPM's stunning announcement on their recent trading losses.