proprietary trading

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The Volcker Rule Is Here! Will It Work?

FDIC, Fed unanimously approve regulation banks have lobbied against

(Newser) - The FDIC and Federal Reserve both unanimously approved the long-debated Volcker Rule today, and three other regulatory agencies plan to before the day is out, making it official. The rule, named for and originally proposed by Paul Volcker, aims to ban proprietary trading, "or in plain English," as... More »

JPMorgan May Have Lost $9B

Losses staggeringly worse than estimated

(Newser) - Forget $2 billion ; JPMorgan's trading losses on its bad derivative bets could reach a jaw-dropping $9 billion, sources tell the New York Times , based on an internal company report. Jamie Dimon had warned investors that the $2 billion loss could double within a few quarters, but losses have gotten... More »

JPMorgan Fiasco Exposes Hapless Regulators

Nicole Gelinas complains that too big to fail is still all too real

(Newser) - How pathetic was the supposed financial reform of the Dodd-Frank bill? So bad that not only did it not prevent JPMorgan's massive trading loss, no one is sure if it was even supposed to, writes Nicole Gelinas of the New York Post . The bill is supposed to prohibit "... More »

Clients Lose Big on Goldman's 2010 Advice

Bank profited all last quarter, but its trading tips have stunk

(Newser) - Goldman Sachs made money on trading every single day last quarter, but anybody following its advice wasn't so lucky. Seven of Goldman's nine “recommended top trades for 2010” have been money-losing duds, Bloomberg reports, with the worst of them dropping as much as 14%. “This says that Goldman's... More »

Obama to Propose Knocking Banks Down to Size

President plans new limits on bank size, risk-taking

(Newser) - President Obama, going on the offensive against Wall Street banks "too big to fail," plans to propose measures to limit the size of banks and their ability to take risks, according to administration sources. Adopting an approach championed by former Fed chief Paul Volcker, he wants to bar... More »

5 Stories