JPMorgan Chase & Co said on Thursday that it suffered a $2 billion trading loss from a failed hedging strategy, a disclosure that hit financial stocks and the reputation of the bank and its prominent CEO, Jamie Dimon.
Tag: banks
2012 – Things that will happen | ZeroHedge
Significant economic and political changes will make 2012 a historical year. The globe has experienced relative calm for the past 24 months. That stability won’t last much longer. Events that are not on anyone’s radar screen will matter the most. The following are the things that I think might happen, but it’s the surprises that worry me.
Guest Post: It’s Time To Give Up On Mainstream Economics | ZeroHedge
Its task for most of the past 100 years has been to regulate growth — not to manage decline. Much of the commentary you saw prior to 2008, such as Ben Bernanke’s sincere lack of concern about a US housing bubble (“I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis…”) is, of course, duplicated today as we confront a similar endgame in sovereign debt.
A Majority of Americans (Including Both OWS and the Tea Party) AGREE on the Most Important Issues … We Just Don’t Realize It | ZeroHedge
I have repeatedly demonstrated that – despite the false divide-and-conquer tactics of the mainstream parties and mainstream media – the overwhelming majority of Americans agree on the most important issues facing our country.
Why I Feel Bad for Pepper-Spraying Policeman, Lt. John Pike | The Atlantic
…it’s a dozen scared kids and a police officer named John Pike spraying them in the face from three feet away. And while it’s his finger pulling the trigger, the police system is what put him in the position to be standing in front of those students.
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- California’s Budget Position in October
- California Exports on Pace for Best Year Ever
- September California Imports
- Consumer Credit in September
- U.S. Trade Deficit Narrows in September as Exports Reach Record High
- Events of Interest
- November 16, 2011: LA NABE Luncheon Meeting: US Recovery: Can California Take the Lead this Time?
- December 5, 2011: HSBC presents: Business Without Borders: Your Company’s Future in Our Changing Global Economy.
Problem Solver: Numbers don’t add up on credit card charge – Chicago Tribune
“However, we need to inform you that credits are not considered as payments on credit accounts,” the representative wrote. “Therefore, the credits (of $1,450) were not considered as payments on this account, and the interest charges were applied correctly.”
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- October U.S. Labor Market Report
- U.S. Auto Sales Rise Again in October
- Solid September Hotel Results in Southern California
- Global Economic Monitor: The Floods in Thailand
- Events of Interest
- November 10, 2011: 23rd Annual Southern California Visitor Industry Outlook Conference
- November 16, 2011: LA NABE Luncheon Meeting: US Recovery: Can California Take the Lead this Time?
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- Real GDP Growth in 3rd Quarter 2011 Came in +2.5%
- California New Home Construction Up 9.6% Over the Year
- Nonresidential Construction Rises 12.4% in September
- Impact of the Korea-US Free Trade Agreement (KORUS) on the Local Economy
- Events of Interest
- SAVE THE DATE! November 3, 2011: The 16th Annual Eddy Awards®
- November 10, 2011: 23rd Annual Southern California Visitor Industry Outlook Conference
- November 16, 2011: LA NABE Luncheon Meeting: US Recovery: Can California Take the Lead this Time?
Morgan Stanley Says Europe’s Pandora’s Box Has Been Opened | ZeroHedge
…the same poll has found that 63% of Germans think Greece should be kicked out of the Euro, with just 32% believing the country can still be saved
Dispatches From The Front 