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Protesters yell at JPMorgan CEO Dimon: ‘Stop the foreclosures now!’
A group of protesters wanted to make sure that JPMorgan CEO Jamie Dimon was personally aware of their anger at him, so they confronted him directly before he testified at a Senate Committee Banking hearing on Wednesday morning. “Stop foreclosures now, stop foreclosures now!” the protesters vociferously repeated before being…
Tea party senator wants JPMorgan CEO to ‘guide’ Congress on banking regulation
Tea party favorite Sen. Jim DeMint (R-SC) on Wednesday asked JPMorgan CEO Jamie Dimon, who recently announced that his company had lost at least $2 billion in the derivative market, to “guide” Congress in creating friendly banking regulations. During a U.S. Senate Banking Committee hearing, DeMint told Dimon that lawmakers…
WATCH LIVE: Jamie Dimon testifies before Congress
The beleaguered JPMorgan chief will testify before the Senate Committee on Banking, Housing and Urban Affairs Wednesday, answering questions about the company’s staggering $2 billion trading loss last month. Dimon managed to keep his job in a shareholder vote in May, but the company has faced federal investigations from all…
Sanders: Wall Street is continuing its ‘insane gambling casino’
Sen. Bernie Sanders (I-VT) launched his latest stinging critique at Wall Street Tuesday morning, specifically at JP Morgan Chase CEO Jamie Dimon ahead of his testimony to the Senate Banking Committee next week. “They have learned nothing about the fact that, what financial institutions in this country should be investing…
JPMorgan boss to testify to Congress twice in June
WASHINGTON — JPMorgan Chase’s embattled chief executive Jamie Dimon will be hauled before US lawmakers twice in June to explain the bank’s recent huge trading losses, congressional officials said Thursday. The US Senate Banking Committee said it postponed an appearance by Dimon from June 7 to June 13 to accommodate…
Senators hope to end Federal Reserve’s conflicts of interest
Three U.S. Senators proposed a bill on Tuesday that would prevent the nation’s most powerful banking executives from simultaneously running the very institutions intended to keep them playing by the rules, with one of the bill’s sponsors saying that JP Morgan’s recent billions in losses are indicative of “a fox…
Senate to ask JPMorgan chief to testify
WASHINGTON — JPMorgan Chase’s embattled chief executive Jamie Dimon will be invited to testify before the Senate Banking Committee to discuss the huge trading losses announced by the largest US bank, a lawmaker said Thursday. Banking Committee chairman Senator Tim Johnson expressed his intent to call Dimon as a witness…
JPMorgan hit with shareholders lawsuit over loss
NEW YORK — US fund manager Saratoga Capital Management, filed a class-action lawsuit against JPMorgan Chase Wednesday after the nation’s largest bank lost more than $2 billion in derivatives trading. The suit accuses the bank; Jamie Dimon, chief executive and chairman; and Douglas Braunstein, chief financial officer, of fraudulently hiding…
JPMorgan’s Dimon faces investors after big loss
JPMorgan Chase chief executive Jamie Dimon will face shareholders’ wrath Tuesday after admitting that the top US bank lost $2 billion in derivatives trading in just six weeks. A day after JPMorgan let its chief investment officer go in the wake of the huge loss and the bank’s shares took another sharp fall on the…
White House urges bank reforms after JPMorgan loss
WASHINGTON — The White House stepped up pressure for tighter bank regulation Monday after JPMorgan Chase’s $2 billion derivatives loss, as the bank said the top official responsible for the loss had resigned. Pressing a policy line that JPMorgan chief Jamie Dimon had strenuously fought, the White House said the…
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