Ray Dalio Thinks Jack Ma Got What Was Coming To Him
If he’d just do what they want, he’d find China’s market regulators to be very reasonable and caring people.
Risky Mortgage Bond Products Are Back, And Just In Time For One Last Good Bonus Season
Welcome back, HELOCs, you've got some work to do.
Jeff Gundlach Cracks Market Cipher, Discovers Equation For 'Risk'
You mortals wouldn't understand.
Citi, BofA, Wells Positioning Themselves For Post-Risk Trumperica
Ain't no party like a unregulated bank party, cuz an unregulated bank party might never EVER stop.
Wells Fargo Debuts New "We've Learned Nothing" Mortgage Product
A 3% rate is great, but bad credit is even better. Happy 2006!
New JPMorgan CIO Doesn't Get Out Of Bed For Less Than A Great Depression-Level Financial Catastrophe
Earlier today, it was announced that Matt Zames had been named JPMorgan's new Chief Investment Officer, to replace Ina Drew, the woman who supervised the trader responsible for the firm's whale of a loss and was dismissed over the weekend. Previously, Zames served as the firm's head of fixed income and while he may be happy to be seen by senior management as a guy capable of putting out at a fire, based on his experience, is probably at least a little bit underwhelmed by the task. From Kate Kelly's Street Fighters: Matt Zames had been down this road before. He had started his career at Long-Term Capital Management in the winter of 1994, shortly after college. There he witnessed firsthand what could happen when a bunch of shortsighted executives didn't manage their risk properly...By the time he reached the sixth floor it was after midnight. His team was huddled with a group of Bear managers in one of the conference rooms. Zames had one question for the Bear team: How much cash and collateral did it have on hand?...Zames shook his head. "This isn't going to be necessary," he told them. "This whole thing is fucked." Guy had a front-row seat for LTCM and Bear's implosion and now he's being asked to do what, exactly? Clean up a minor mess at a *solvent* bank? It's almost a little insulting, actually. Call him when you've got SOMETHING REAL. JPMorgan Says Ina Drew to Retire, Replaced by Zames as CIO [Bloomberg]
JPMorgan Chief Risk Officer: "I want to reiterate the critical role that we play at J.P. Morgan Chase"
In case that was unclear. Also, no more "surprises" like you know what again, please.