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Tag Archives: JP Morgan

Protect taxpayers and break up the banks

Vermont Senator Bernie Sanders, says “the issue is not whether Congress regulates Wall Street, it’s the degree to which Wall Street regulates Congress.” Time to break up the banks…

Bankers to lobby at Davos for softer reforms

At the House Financial Services Committee hearing last week Chairman Barney Frank mentioned that he would be attending the World Economic Forum in Davos and have a chance to discuss coordinating global financial regulation with officials from other countries… all to the good… The Financial Times is reporting another variety of lobbying that the banks are […]

“The markets are becoming risky again, bankers are becoming risk-takers again,”

The efforts of global political officials to rein in the global banking elites are falling flat… President Obama held a meeting of Wall Street bankers at the White House and heads of several of the biggest banks pardoned their absence with weak excuses … Gordon Brown and Alistair Darling of the UK imposed a “banker bonus” tax […]

“Building up another bubble on the bond markets”

“Moral hazard doesn’t exist anymore…”… so sayeth the Euro crowd… President Obama… you’re smart enough to understand “banker code”… call up Adair Turner if you need a decoding kit… This video from Bloomberg shows Karsten Schroeder, chief executive officer of Amplitude Capital LLP, talking about risk-taking by banks and the condition of credit markets.¶ ¶ Central bankers will […]

Larry Summers and derivatives

A lot of threads related to our financial crisis come together in the form of Larry Summers and derivatives. Actions taken out of a fear of global instability and ignorance of the potency of leveraged bets using derivatives weave through this story. It’s a long list of damage caused by Wall Street banks and derivatives […]

“In cases like this, the outcome is always along the lines of 50, 60 or 70 cents on the dollar”

~ We still don’t know why the Federal Reserve paid 100 cents on the dollar to the counterparties of AIG… the mystery is another mark against the “too big to fail” banks and their closely woven interconnection with the Federal Reserve … Bloomberg reminds us of a comparable closeout of a swaps transaction around the same time […]

Predation in the banking space…

And the “too big to fail” banks get bigger… and the instability of our financial system will increase again… Interview and discussion with the Chairman and C.E.O. of KBW, John Duffy giving his thoughts about the economy and the market. Bloomberg News, (running time – 9:20 minutes)

Regulating derivatives

I attended the House Committee on Financial Services Capital Markets Subcommittee hearing today… the topic was the oversight of derivatives… lots of discussion about the failure of AIG and what happened there too… It is more clear to me than before that legislators need systems to share information to effectively  legislate regulation for financial markets … yes […]

Conflict supposition

~~~~”McDaniel this month defended the credit raters’ issuer-pay model at an SEC roundtable in Washington, saying that investors can pressure ratings companies just as easily as underwriters….”*~~~~ This will become the central argument in defense of the “issuer pay” model for credit ratings agencies…. The SEC receives information from credit rating agencies as part of […]

View from Asia

Analysis and discussion about financial stocks, mark-to-market and FASB 157 with Geoff Lewis of JP Morgan Asset Management (Bloomberg News – running time ~ 3 minutes).