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Friday, May 11

11th May - JP Morgan Losses

Roundup of coverage on the JP Morgan losses. New ones are added to the bottom of the list.
JPM Chart
JPM data by YCharts

Live BlogDeal Journal / WSJ

JPMorgan Chase Acknowledges $2 Billion Trading LossTIME
 
J.P. Morgan Shares Tumble After ‘Significant Mark-To-Market Losses’ At Credit UnitMarketBeat / WSJ
 
The "World's Largest Prop Trading Desk" Just Went BustZH

JPMorgan Discloses $2 Billion in Trading LossesDealBook / NYT

JPM Crashing After It Convenes Emergency Call To Advise Of "Significant Mark-To-Market" Losses In Bruno Iksil/CIO GroupZH

When Something Goes Wrong: The Case of JP Morgan ChaseA Dash of Insight

AccountingAlea

Others in the Spotlight After JPMorgan’s Big Trading LossDealBook / NYT

A Shock From JPMorgan Is New Fodder for ReformersDealBook / NYT

Whale Sushi On The Menu At JPMorgan Executive Lunchroom For Next Few MonthsDealbreaker

JP Morgan: When basis trades blow upFelix Salmon / Reuters

Whale of a Story: JPMorgan Loses $2 Billion on "Ineffective, Poorly Monitored, Poorly Constructed" Hedging Strategies; Reflections On the Volcker RuleMish’s

Jamie Dimon Misrepresented “London Whale” Risks, Admits to $2+ Billion Loss Plus Risk Management Black Eyenaked capitalism

JP Morgan’s ‘Egregious’ ErrorSurly Trader

Harpooned!The Reformed Broker
 
JPMorgan Loses $2 Billion in Chief Investment OfficeBB

The Whale Marched Up the Hill, and He Marched Down It AgainStreetwise Professor

J.P. Morgan’s London Whale Drowns Bank StocksMarketBeat / WSJ
 
Australian Dollar Hit By J.P. Morgan LossesMarketBeat / WSJ

Is JPM Staring At Another $3 Billion Loss?ZH

JPMorgan reveals $2 billion trading loss, CEO Dimon admits "egg on face"Reuters
 
Jamie Dimon’s Ahab meets his Moby DickReuters

IG CDX widens on the back of JPM newsSober Look 

How J.P. Morgan Chase Has Made the Case for Breaking Up The Big Banks and Resurrecting Glass-SteagallRobert Reich

Too Big To Fail Lives OnTim Duy’s Fed Watch

JPMorgan Chase: London whale swallows $2BCBS

'This Certainly Does Take The Halo Away At Least For A While'.HITC

JPMorgan Reveals Significant Trading Loss; Shares PlummetFOX

The unconventional hedge, reduxalphaville / FT

JPMorgan Chase: It’s CrunchtimeTIME

Long and the Short of JPMorganZH

Does Jamie Dimon Even Know What Hedging Risk Is?azizonomics

Imperfect, OverReaching, Bonus-Driven BankersThe Big Picture

Deutsche Bank Takes A Jab At JPM's "Fail Whale"ZH
 

[JPM Whale-Watching Tour] Too Big To Hedgealphaville / FT 
What Could have Happened at JPMTF Market Advisors

So You Wanna Talk About JPM’s Trading Loss and The London WhaleKid Dynamite  

In My View, Jamie Dimon Should Step DownHITC
 

JPMorgan Chase Conference Call Transcript(pdf)

Ten Big Questions for JPMorganCNBC

Portales’s Peabody Says JPMorgan Stock Will SufferBB (audio)

BGC’s Buik Says JPM’s Dimon Is `Spitting Blood'BB (audio)

CLSA’s Mayo Says JPM Loss `A Big Black Eye'BB (audio)

After JPMorgan Trading Debacle, A Chorus of CriticismDealBook / NYT
 
Regulators Looking Into JPMorgan Trading Activities Before $2 Billion LossDealBook / NYT
 
J.P. Morgan's $2 Billion BlunderWSJ
 
JP Morgan Debacle Reveals Fatal Flaw In Federal Reserve ThinkingEconoMonitor

JP Morgan's Loss: The ExplainerMarketplace

Dimon's $2 Billion Bet Proves the Volcker RuleAdvanced Trading

Wonkbook: 'Just because we’re stupid doesn’t mean everybody else was'WP

How dumb rules can mitigate model riskFelix Salmon / Reuters

J.P. Morgan Blunder Puts Bank In Regulators’ CrosshairsMarketBeat / WSJ

What Beached the London Whale? Credit IndicesMarketBeat / WSJ
 
The Hit to J.P. Morgan’s Reputation ‘Really Hurts’MarketBeat / WSJ
 
Smartest Man in the Room Looks DumbDoug Kass / The Street 

Chart of the day: The CDX NA IG 9 basisFelix Salmon / Reuters

It's Just Kids Playing With DynamiteBI

Investor Farrell Says ‘Liquidity Abandoned’ JPM TradeBB (mp3)

S.E.C. Opens Investigation Into JPMorgan’s $2 Billion LossDealBook / NYT

The Tale Of A Whale Of A FailDealbreaker

Paul Volcker vs. the London WhaleWonkblog / WP

Neil Barofksy on JPMorgan Trading Loss, RegulationThe Big Picture

JP Morgan–AaaaarrrrgggghhThe Big Picture

You Know How J.P. Morgan Has a PR Problem? Mom’s AnxiousMarketBeat / WSJ

Is J.P. Morgan Still a Buy?MarketBeat / WSJ

Hedge Funds On the Other Side of J.P. Morgan’s WhaleMarketBeat / WSJ

What Jamie Dimon Doesn’t Know Is Plain ScaryView / BB

Santelli On CDS Regulation And Why Bank Analysts FailedZH

J.P. Morgan’s London Whale, and Other Disastrous TradesMarketBeat / WSJ

How Exactly Did JPMorgan Pass a Fed Stress Test?Advanced Trading

Top 10 Biggest Trading Losses in HistoryTIME

ADDED 12-MAY
JP Morgan's $2bn losses reveal a less than comfortable positionThe Guardian

Dimon vs. Volcker, the Television SeriesDealBook / NYT
 
In JPMorgan Chase Trading Bet, Its Confidence Yields to LossDealBook / NYT

Loss Stains JPMorgan’s Chief, One of Banking’s Top Risk ManagersDealBook / NYT

The Bet That Blew Up for JPMorgan ChaseDealBook / NYT

Bank Regulations Gain Fresh SupportDealBook / NYT

Dimon’s ‘Meet the Press’ Appearance Mired in ControversyDealBook / NYT

Before Loss, JPMorgan Was One of Volcker Rule’s Fiercest FoesDealBook / NYT

'No Surprises,' J.P. Morgan Tells Troops After $2 Billion LossFINS

Counterparties: Your massive guide to JPMorgan’s failed hedgeFelix Salmon / Reuters

JPMorgan, a Fitch ratings harpooning [update: now S&P]alphaville / FT

[JPM Whale-Watching Tour] What position transparency?alphaville / FT

Index That Beached J.P. Morgan’s Whale Gets WhackierMarketBeat / WSJ

J.P. Morgan Erases More Than $14 Billion In Market ValueMarketBeat / WSJ

Welcome to the Jamie Dimon Network – Where’s It’s All Dimon, All the TimeThe Reformed Broker

What the TF? Can the 800 Pound Gorilla be Thoughtful?TF Market Advisors

JPMorgan Sought Loophole on Risky TradingNYT

JPMorgan’s Trading Loss May Call for More Fed SupervisionBB

Understanding J.P. Morgan’s Loss, And Why More Might Be ComingThe Big Picture

JPMorgan made some $5bn on Friday using accounting magic called DVASober Look

ADDED 13-MAY
Polishing the Dimon PrincipleWSJ
 
A Defense of the MorgBruce Krasting
 
Inside JPMorgan’s $2 billion loss-making CIO divisionEuromoney

JPMorgan's VAR model did not capture liquidity risk of the massive IG vs. HY positionSober Look

What Was Not Said During Jamie Dimon's Media PR CampaignZH
 
Jamie Dimon's SNAFU: JPMorgan's Other Derivatives' LossesHuffington Post

Three to Exit J.P. Morgan After LossesWSJ
 
Ina Drew, the London Whale’s Boss, Loves a Good CrisisDeal Journal / WSJ
 


Drew Built 30-Year JPMorgan Career Embracing RiskBB

The One Thing Jamie Dimon Got Right This WeekView / BB

ADDED 14-MAY

CDS market says Berkshire Hathaway and JPMorgan now carry the same credit riskSober Look

Blame Ben not JamieEconomic Musings

JP Morgan and systemic riskEconbrowser

Has JPMorgan Already Unwound Its Losing Trade?ZH
 
What about that JP?ZH
 
JPMorgan execs set to leave, sources sayReuters

Analysis: The core problems with JPMorgan's failed tradesReuters

Analysis: Fed regulators in hot seat over JPMorgan lossReuters

JPMorgan CEO says bank reacted badly to red flagsReuters

JP Morgan and Systemic RiskEconoMonitor

Jamie Dimon’s failureFelix Salmon / Reuters

JPMorgan: the management changealphaville / FT
 
Michael Olenick: WhaleMu – JP Morgan’s Next Surprise?naked capitalism

JPMorgan Loss Claims Official Who Oversaw Trading UnitDealBook / NYT

JPMorgan Names C.I.O. to Succeed Ina DrewDealBook / NYT

FAQ: What happened at JP Morgan? And should you care?Wonkblog / WP

Top JPMorgan Exec Out Over $2B Blunder as CEO Dimon Faces HeatTIME

After $2 Billion Trading Disaster, JP Morgan Exec Expected to ResignTIME

JPMorgan's New CIO Tied to Madoff, U.S. Treasury, LTCMThe Street

'We Believed Our Own Hype' - Post From A JP Morgan StafferHITC

After $2 Billion Trading Loss, Will JPMorgan Claw Back Pay?DealBook / NYT

Ina Drew’s Successor at JPMorgan Has a Long History With RiskDealBook / NYT

JPMorgan's Loss: Illegal, or Just Bad Judgment?DealBook / NYT
 

ADDED 15-MAY
[JPM Whale-Watching Tour] Two billion dollar ‘hedge’alphaville / FT

Regression to the Mean, JPMorgan EditionBaseline Scenario

TFMkts Analysis: The JPM Conference CallA Closer Look

After $2 Billion Loss, JPMorgan Reshuffles Trading GroupDealBook / NYT
 
Dimon heads into JPMorgan annual meeting as losses loomReuters

“Everything is a Hedge”The Big Picture

Dimon GeezerThe Daily Capitalist

Satyajit Das: Topiary Lessons – JP Morgan’s US $2 Billion Lossnaked capitalism

ADDED 16-MAY 
Will JPMorgan’s $2 Billion Blunder Finally End ‘Too Big to Fail’?TIME

The toughest guy on Wall Street (2006)Fortune

Why JPMorgan Should Become 'Boring'DealBook / NYT

F.B.I. Begins Preliminary Inquiry Into JPMorganDealBook / NYT
 
JPMorgan: What’s the Fuss?EconoMonitor

Topiary Lessons – JP Morgan’s US $2 billion LossEconoMonitor

The Truth About JP Morgan’s $2 Billion LossWashington’s Blog

Analysis: JPMorgan repeats basic mistakes managing tradersReuters

In Scrutiny of JPMorgan Loss, Bigger Questions Left UnansweredDealBook / NYT

JPMorgan Proves We Don't Need More Regulationreason

What the TF? JPM, Just the Facts, Ma’am.TF Market Advisors

The hedge funds that are profiting off JPMorgan's bad tradeCNNMoney

Bruno Iksil LeavingZH

Why JP Morgan’s CIO found it so easy to make moneyFelix Salmon / Reuters

'London Whale' Said to Be Leaving JPMorganDealBook / NYT

[JPM Whale-Watching Tour] Recap and tranche primeralphaville / FT

JPMorgan still employs "whale" traderReuters

Is Dimon’s ‘Stupid’ Defense a Smart Move?Yahoo!

Jamie Dimon’s Hedge FundReality Check

ADDED 17-MAY 
How Bruno Iksil lost $2 billionFelix Salmon / Reuters

Macey’s Apologia for JPMorgan’s “Hedginess”The Big Picture

Michael Crimmins: Why the Cops Should be Knocking on Jamie Dimon’s Door Soonnaked capitalism

JPMorgan’s ‘London Whale’ Loss Rises to $3 Billion as Lawsuits FlyTIME

The Dog That Didn’t Bark: Obama on JPMorganRobert Reich

JPMorgan’s Trading Loss Is Said to Rise at Least 50%DealBook / NYT

Bove Says U.S. Should `Call off the Dogs’ on JPMBB (mp3)

Levitt Says Regulators Are `Overreacting' to JPM LossBB (mp3)

How JPM's "Hedge" Blew Up In One Easy ChartZH

What JPMorgan Didn't Learn From Previous Bad TradesDealBook / NYT

Senate Committee to Invite Dimon to HearingsDealBook / NYT

Where Prosecutors Might Focus in Their JPMorgan InquiriesDealBook / NYT

[JPM Whale-Watching Tour] The high yield tranche piecealphaville / FT

Jamie Dimon "Invited" To Testify Before SenateZH 

ADDED 19-MAY 
Dimon in the rough: A scramble to benefit from a bad tradeThe Economist

It's Not Over Yet For JPMZH

So How Are JPM's Prop "Counterparties" Faring?ZH

The Bigger They Are, The Harder They (Should) FailAll About Alpha

ADDED 21-MAY
J.P. Morgan and the Marlboro ManThe Epicurean Dealmaker

JPM: What Did Jamie do? How they hedged the hedged hedge is keyTF Market Advisors

JPMorgan CIO Risk Chief Said to Have Trading-Loss HistoryBB

JPMorgan and the Volcker Rule's Hedging ExemptionEconomics of Contempt

More Evidence of Lax Oversight of JP Morgan Chief Investment Officenaked capitalism

How JPMorgan Is Like EnronView / BB

Dimon’s Déjà Vu DebacleKrugman / NYT

[JPM Whale-Watching Tour] Oh, so now it’s a $5bn loss?alphaville / FT

JPMorgan Chase loss only going to get worseCNNMoney

JPM: Some Thoughts and Good SourcesTF Market Advisors

Jamie Dimon Shows Some Love for Volcker RuleDealBook / NYT
 
IG CDX diverges from S&P500; JPMorgan advocates mean reversion tradeSober Look

What Did JPMorgan Execs Know and When Did They Know It?ProPublica

ADDED 22-MAY
JPMorgan Losses Become Tool in Regulatory Debate on Capitol HillBB

US CFTC chief confirms investigation of JPMorganReuters

JPMorgan Said to Hire Ex-SEC Enforcement Chief McLucasBB

Counterparties: JPMorgan’s giant search for yieldFelix Salmon / Reuters

The Volcker Rule and a Trade Gone WrongAllAboutAlpha

ADDED 23-MAY 
An $8bn Loss Or Was JPMorgan 'Unhedged, Long-And-Wrong' Post-LTRO2?ZH

JPMorgan’s Addiction to Gambling on DerivativesW.K. Black / The Big Picture

ADDED 24-MAY 
JP Morgan’s reputation plungesFelix Salmon / Reuters

Did falling correlations cause JP Morgan’s trading losses?Felix Salmon / Reuters

Jamie Dimon and the Fed's LegitimacyDealBook / NYT

JPMorgan Joins MF Global in Lobbying Wins That BackfireBB
 
JPMorgan’s Deficient DisclosuresDealBook / NYT

ADDED 25-MAY 

J.P. Morgan Stretches the Definition of ‘Hedge’MarketBeat / WSJ

JPMorgan Gave Risk Oversight to Museum HeadBusinessWeek

Presenting JPM's Uber-Prop Trading Desk: Meet The SIO Inside The CIOZH

Fed data expose $100 billion JP Morgan positionReuters

2 Huge Leadership Lessons from JPMorganForbes

The Dark Nooks in JPMorgan’s Fortress Balance SheetDealBook / NYT

Why JP Morgan’s gamblers need to be spun offFelix Salmon / Reuters

ADDED 1-JUNE


JPMorgan’s debacle, and its parallels to AIGThe Big Picture

J.P. Morgan replaces prime brokerage chief: reportReuters

JPMorgan dips into cookie jar to offset "London Whale" lossesReuters

JPMorgan CIO Swaps Pricing Said to Differ From BankBB

A few more questions on JP Morgan and the London WhaleZH

JPMorgan CIO Swaps Pricing Said to Differ From BankBB

Dimon to Testify on June 13DealBook / NYT

JPMorgan’s Iksil Said to Take Big Risks Long Before LossBB