When JPMorgan announced a big trading loss last week, chairman and CEO Jamie Dimon said (among other things): “We’ll admit it, we’ll learn from it, we’ll fix it and we’ll move on.” But JPMorgan can’t move on because fixing the problem is proving extremely difficult — and the losses are mounting, now reportedly approaching $3 [...]

By Chuck Mikolajczak NEW YORK (Reuters) – Stocks closed lower in a choppy session on Wednesday, with the SP 500 logging its fourth straight decline as investors worried about Greece’s future as a member of the euro zone. Early U.S. gains were erased after the European Central Bank said it had stopped providing liquidity to [...]

By Chikako Mogi TOKYO (Reuters) – Asian shares fell more than 3 percent, the biggest one-day drop in six months, and the dollar rose broadly on Wednesday after efforts to form a new government in Greece collapsed, fuelling fears that a second election in June could precipitate Athens’ exit from the euro zone and deepen [...]

Stock Futures Rise as Bank Shares ReboundReuters Stock index futures rose on Tuesday, rebounding as investors sought bargains in beaten-down sectors. From: http://us.rd.yahoo.com/finance/news/rss/story/*http://us.rd.yahoo.com/finance/news/topfinstories/*http://finance.yahoo.com/news/stock-index-futures-point-rebound-074746601.html?l=1

Follow The Daily Ticker on Facebook! Last week’s JP Morgan blowup has now put any lingering questions to rest: Wall Street banks simply cannot be trusted to manage the massive risks they are taking. After the financial crisis, when most of the world’s banks were revealed to have been run by reckless gamblers, a couple [...]

By David Henry (Reuters) – Three executives involved with the failed hedging strategy that has left JPMorgan Chase Co with a $2 billion trading loss and a tarnished reputation are expected to leave the bank this week, sources close to the matter said on Sunday. The company is expected to accept the resignation of Ina [...]

By David Henry and Douwe Miedema NEW YORK/LONDON (Reuters) – JPMorgan Chase Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry. The loss by one [...]

By Caroline Valetkevitch NEW YORK (Reuters) – More volatility could be in store for stocks next week as investors grapple with less certainty about the economic outlook and a new blow to the financial sector after JPMorgan Chase‘s (JPM) trading loss. Europe is expected to keep investors jumpy as well, with inconclusive results from the [...]

And just like that, the storied annals of Wall Street can now add “London Whale” to a growing list of infamous traders who have blown themselves up and left their employers with a hefty bill. In the case of JP Morgan (JPM) and its $2 billion blunder, the infraction appears well contained and not threatening. [...]

By Edward Krudy NEW YORK (Reuters) – Stock index futures fell sharply on Thursday evening as JPMorgan Chase Co stunned investors with news that its chief investment office had incurred “significant mark-to-market losses” that it said could “easily get worse.” JPMorgan’s stock (JPM) fell nearly 7 percent to $38.05 in after-hours trading and dragged down [...]