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Josh Rosner’s JPM Analysis

Posted By Barry Ritholtz On March 14, 2013 @ 11:00 am In Corporate Management,Really, really bad calls,Regulation | Comments Disabled

Josh Rosner has done a yeoman’s job looking closely at JPM’s finances, regulatory violations, and trading losses. I found much of what he wrote surprising.

In particular, I was surprised to learn that JPM:

-Had many similar anti money laundering laws violations as HSBC;
-Failed to Segregated Accounts ala MF Global
-Engaged in Risky trading behavior that cost them over $8B
-Demanded that the FDIC cover WAMU’s losses despite their purchase of them;
-Paid more than $8.5 billion in regulatory and legal settlements –almost 12% of 2009-12 net income!

Prior installments are here:

Intro [1] Poor Risk Controls

part 2 [2]: JPM wants FDIC (read taxpayer)to cover WaMu’s mortgage losses

part 3 [3] Segregated Accounts

part 4 [4] London Whale

part 5 (tonite)

Complete Report PDF (Friday am)


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2013/03/josh-rosners-jpm-analysis/

URLs in this post:

[1] Intro: http://www.ritholtz.com/blog/2013/03/jpmorgan-chase-out-of-control-introduction/

[2] part 2: http://www.ritholtz.com/blog/2013/03/jpm-wamu/

[3] part 3 : http://www.ritholtz.com/blog/2013/03/jpmorgans-internal-control-problems-or-hsbcs-got-nothing-on-us/

[4] part 4 : http://www.ritholtz.com/blog/2013/03/jpmorgan-london-calling/

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