JPMorgan Would Like To Remind Everyone That GE Is Still An Awful Place To Put Your Money
Lest you all forget, one of the original public companies is a full and total clusterf@ck.
BofA Downgrades Goldman Sachs, Giving Brian Moynihan The Strangest Sensation
Is this what...superiority feels like?
After Growing Bored Of Making Jamie Dimon Puke Rainbows, JPM Analyst Admits Snap Stock Is Garbage
JPM cuts price target on Snap by $2...because human beings are afraid to confront the inevitability of death.
S&P Warns It May Kick Valeant In The Balls As Company Is Hunched Over Coughing Up Blood
How'd you like another downgrade?
Fitch Has Something To Say About Fudgie
"Manageable" but "raises questions." Fitch Ratings has downgraded JPMorgan Chase & Co.'s (JPM) Long-term Issuer Default Rating (IDR) to 'A+' from 'AA-' and its Short-term IDR to 'F1' from 'F1+'. Fitch has placed all parent and subsidiary long-term ratings on Rating Watch Negative. Fitch has also downgraded JPM's viability rating (VR) to 'a+' from 'aa-' and placed it on Rating Watch Negative. In addition, Fitch affirmed JPM's '1' support rating and 'A' support rating floor. The rating actions follow JPM's disclosure yesterday of a $2 billion trading loss on its synthetic credit positions in its Chief Investment Office (CIO). The positions were intended to hedge JPM's overall credit exposure, particularly during periods of credit stress. Fitch views the size of loss as manageable. That said, the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity. It also raises questions regarding JPM's risk appetite, risk management framework, practices and oversight; all key credit factors. Fitch believes the potential reputational risk and risk governance issues raised at JPM are no longer consistent with an 'AA-' rating. Fitch Cuts JPMorgan Ratings [Reuters]