Derivatives

  • What JPMorgan’s Recently Released Internal Reports Unintentionally Say

    February 4th, 2013 by John Fullerton

    After apologizing at Davos – but only to his shareholders – according to William Cohan on the Bloomberg View, the JPMorgan Chairman and CEO hastened to add about 2012, “We did have record profits. Life goes on.”

    It is true; JPMorgan reported a strong financial performance in 2012, “London Whale” trading fiasco notwithstanding. I must admit that despite my 18 >> Read more

  • “US Debt Default Would Be a Moral Disaster”

    May 22nd, 2011 by John Fullerton

    So declared JPMorgan CEO Jamie Dimon regarding the prospect of a US default on its debt, after which he received a standing ovation at the University of Colorado’s Denver School of Business. Hmm…Let’s do a little press review – the following items quoted from recent news articles:

    • JPMorgan Chase recently lost a class-action lawsuit >> Read more
  • How Banks Make Money in Derivatives

    December 19th, 2010 by John Fullerton

    The mystery of derivatives, the secretive multi-trillion dollar market that few understand but is believed to be at the heart of the financial meltdown needs illumination. Without it, policy makers have no chance of getting much needed regulation right.  The recent NY Times piece, “A Secretive Banking Elite Rules Trading in Derivatives>> Read more