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Investment banking

Did JPMorgan buy influence in China?

Business, Economics and Jobs

JPMorgan Chase wanted a bigger piece of the Chinese financial market. Now, the US government is investigating what the bank was willing to do to get it. The latest revelation is that the bank hired the daughter of former Chinese leader Wen Jiabao as a consultant.

The London Whale Walks Free

Investigation finds SEC regularly exempting Wall Street banks from fraud penalties

Business, Economics and Jobs

Job tips for a tough economy

Business, Economics and Jobs

A Whale Tale: How A JPMorgan London Trader Lost $2bn

Conflict & Justice

JP Morgan Chase Announces $2 Billion Loss

In a major hit for Wall Street, JP Morgan Chase disclosed a $2 billion loss on Thursday related to its credit investment portfolio. The trickle down effect could mean a loss of another $800 million in the second quarter for the bank’s Chief Investment Office. The Takeaway talks with Michael de la Merced, reporter for […]

Can Goldman Sachs Restore Its Image?

Coming up, Goldman Sach’s reputation has come under assault this week. But is all the criticism fair? Goldman William Cohan, former investment baker and author of “Money and Power: How Goldman Sachs Came To Rule The World” joins The Takeaway next.

‘Rogue’ UBS Trader Arrested in London

Swiss bank UBS says a “rogue trader” in its investment bank has generated $2 billion in losses by making unauthorized trades. Kweku Adoboli, 31, was arrested this morning by police in London. Louise Cooper, analyst for BGC Partners, a firm specializing in financial services, talks about how this could have happened.

Nuns to Protest Goldman Sachs

Goldman Sachs CEO Lloyd Blankfein did little to ingratiate himself to the general public when in November 2009 he told The Times of London that bankers do “God’s work.” Now Goldman will have to face those who actually are doing “God’s work.” A coalition of Catholic nuns plans to cause a scene at the investment […]

The World

In 2004, rule change at SEC set the stage for a credit crisis

Global Politics

During a routine meeting back in April of 2004, the U.S. Securities and Exchange Commission voted for allowing computer-generated models to determine financial risk. New York Times reporter Stephen Labaton explains the decision and its implications.