Last week, the once-future Treasury secretary and current JPMorgan Chase CEO Jamie Dimon revealed a $2 billion loss. This previously undisclosed derivative trade should be a wake-up call for those claiming that finance has been “reined in” and no longer presents a t …
It was bound to happen, a bank getting caught red-handed trading derivatives like it was a reunion of 2007 risk traders. But that it was JPMorgan Chase that found itself under the bare light bulb of significant “risk-on” derivatives losses is a true surprise. Lumin …
Prime Minister David Cameron of the United Kingdom, President Barack Obama, Chancellor Angela Merkel of Germany, José Manuel Barroso, President of the European Commission, and others watch the overtime shootout of the Chelsea vs. Bayern Munich Champions League final, in …
In the diplomatic language of Treasury communications, Mr. Geithner just told Jamie Dimon to resign from the New York Fed board (here is the current board composition). It looks bad – and it is bad – to have him on the board of this key part of the Federal Reserve S …
China allowed a blind legal activist, Chen Guangcheng, to leave a hospital in Beijing on Saturday and board a plane bound for the United States, a move that could signal the end of a diplomatic standoff between the two countries.
By BART CHILTON By now, folks have heard much about the announcement that JPMorgan Chase had somehow lost $2 billion over a six-week period. In an irony of ironies, here's what one JPMorgan risk officer had to say about the behemoth bank just a few months ago: "Our metric of s …
Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams. We’re not talking about a distant prospect, either. Things could fall apart with stunning speed, …
The United States isn't unique when it comes to political and social crises related to immigration. Migrants in other parts of the world face similar, sometimes much harsher struggles. Even those who are "legal" are often extremely vulnerable to economic exploitation, ra …
One last point — a friend raised this on email. Could this be why the campaign screams bloody murder about racists and birthers every time someone asks about Barack Obama’s college transcripts? This would explain why Obama is so squirrely about the issue and waited un …
The major difference is that California has an even bigger budget deficit than its Balkan cousin.