Bruno Iksil

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Sources: Boss Tried to Hide London Whale Fiasco

JPMorgan trader was urged to boost valuations: WSJ

(Newser) - A top exec at JPMorgan appears to have tried to cover up a colossal mistake, sources close to the "London Whale" probe tell the Wall Street Journal . Emails from earlier this year reveal that credit-trading chief Javier Martin-Artajo urged "whale" trader Bruno Iksil to inflate valuations on some... More »

JPMorgan Execs Knew of 'Whale' Risks

Concerns about London unit raised years before $2B loss

(Newser) - Top JPMorgan execs weren't as blindsided as you might have thought about the risky trades that cost the bank a couple of billion dollars , the Wall Street Journal finds. Insiders in the unit responsible for the losses say that worries about risk-taking by London traders—including the one known... More »

JPMorgan Sold $25B in Securities to Mask Loss

But analysts say it was a dumb move

(Newser) - In order to soften the Q2 earnings blow inflicted by its more than $2 billion loss , JPMorgan is "dipping into the cookie jar," Reuters reports. Earlier this month CEO Jamie Dimon revealed that the bank had sold securities that generated $1 billion in gains, and a Reuters analysis... More »

Meet the Man Who Took Down JPMorgan

Boaz Weinstein is an aggressive trader who once lost $2B, too

(Newser) - Credit (or blame) Boaz Weinstein—a 38-year-old hedge fund trader known as a "monster" for his aggressive, risky style—for the $2 billion takedown of JPMorgan, reports the New York Times . Weinstein, a chess master and big-time Las Vegas gambler, isn't talking, but numerous other traders say he... More »

Other Banks Get Rich Quick in JPMorgan Debacle

They were the winning side in the London Whale's losing bets

(Newser) - The rest of Wall Street isn't exactly broken up about JPMorgan's multibillion dollar trading loss —because it's profiting handsomely off it. Goldman Sachs and Bank of America, for instance, have together made somewhere between $500 million and $1 billion off of JPMorgan, the Wall Street Journal... More »

Heads Roll at JPMorgan Over $2B Trade Loss

CEO Jamie Dimon will accept at least three resignations

(Newser) - JPMorgan's disastrous $2 billion trading loss has officially claimed its first casualty. Chief Investment Officer Ina R. Drew, a 30-year veteran of JPMorgan and one of Wall Street's most prominent women, retired today, the AP reports. Drew was responsible for overseeing the disastrous trades. Executives say she ordered... More »

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