White House urges bank reforms after JPMorgan loss

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon would be the best person to lead the U.S. Treasury Department in a financial crisis, billionaire investor Warren Buffett said. “If we did run into problems in markets, I think he would actually be the best person you could have in the job,” Buffett said in response to a question about Dimon from Charlie Rose, according to the transcript of an interview that was scheduled to air Monday on PBS. “World leaders would have confidence in him.”

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.

NEW YORK — JPMorgan Chase reported a 55 percent jump in earnings for the last three months of 2012 as mortgage fees and other income surged. The bank also released internal reviews of a surprise $6 billion trading loss that has drawn sanctions from regulators and said it would cut its CEO’s pay as a result. JPMorgan, the country’s biggest bank by assets, will pay Jamie Dimon $11.5 million for 2012, consisting of $1.5 million in salary and restricted stock awards of $10 million.

NEW YORK — JPMorgan Chase reported a 55 percent jump in earnings for the last three months of 2012 as mortgage fees and other income surged. The bank also released internal reviews of a surprise $6 billion trading loss that has drawn sanctions from regulators and said it would cut its CEO’s pay as a result. JPMorgan, the country’s biggest bank by assets, will pay Jamie Dimon $11.5 million for 2012, consisting of $1.5 million in salary and restricted stock awards of $10 million.

May 11 (Reuters) - JPMorgan Chase & Co Chairman and CEO Jamie Dimon said he may consider leaving the bank where he has held the top post since 2005, if shareholders vote to split his duties, the Wall Street Journal reported on Saturday.

US banking giant JPMorgan Chase said Monday it was suspending its share repurchase program, after its embarrassing disclosure of more than $2 billion in losses in the derivatives trade."We intend to restart it, but we need to box this thing first," said JPMorgan chief executive Jamie Dimon in a conference call with analysts.On May 10, the prestigious Wall Street bank shocked investors in revealing a $2 billion loss in derivatives trading over just six weeks and said an additional $1 billion loss was possible by the end of June.

By Investment U: By Jason Jenkins J.P. Morgan Chase (NYSE: JPM) isn't going anywhere. Don't miss out on this rare value stock investing opportunity.Unless you’ve been on a deserted island for the last two weeks and haven’t heard: