11th May - JP Morgan Losses

Roundup of coverage on the JP Morgan losses. New ones are added to the bottom of the list.

JPM data by YCharts

Live Blog – Deal Journal / WSJ

JPMorgan Chase Acknowledges $2 Billion Trading Loss – TIME
 

J.P. Morgan Shares Tumble After ‘Significant Mark-To-Market Losses’ At Credit Unit – MarketBeat / WSJ
 

The "World's Largest Prop Trading Desk" Just Went Bust – ZH

JPMorgan Discloses $2 Billion in Trading Losses – DealBook / NYT

JPM Crashing After It Convenes Emergency Call To Advise Of "Significant Mark-To-Market" Losses In Bruno Iksil/CIO Group – ZH

When Something Goes Wrong: The Case of JP Morgan Chase – A Dash of Insight

Accounting – Alea

Others in the Spotlight After JPMorgan’s Big Trading Loss – DealBook / NYT

A Shock From JPMorgan Is New Fodder for Reformers – DealBook / NYT

Whale Sushi On The Menu At JPMorgan Executive Lunchroom For Next Few Months – Dealbreaker

JP Morgan: When basis trades blow up – Felix Salmon / Reuters

Whale of a Story: JPMorgan Loses $2 Billion on "Ineffective, Poorly Monitored, Poorly Constructed" Hedging Strategies; Reflections On the Volcker Rule – Mish’s

Jamie Dimon Misrepresented “London Whale” Risks, Admits to $2+ Billion Loss Plus Risk Management Black Eye – naked capitalism

JP Morgan’s ‘Egregious’ Error – Surly Trader

Harpooned! – The Reformed Broker

 

JPMorgan Loses $2 Billion in Chief Investment Office – BB

The Whale Marched Up the Hill, and He Marched Down It Again – Streetwise Professor

J.P. Morgan’s London Whale Drowns Bank Stocks – MarketBeat / WSJ
 

Australian Dollar Hit By J.P. Morgan Losses – MarketBeat / WSJ

Is JPM Staring At Another $3 Billion Loss? – ZH

JPMorgan reveals $2 billion trading loss, CEO Dimon admits "egg on face" – Reuters

 

Jamie Dimon’s Ahab meets his Moby Dick – Reuters

IG CDX widens on the back of JPM news – Sober Look 

How J.P. Morgan Chase Has Made the Case for Breaking Up The Big Banks and Resurrecting Glass-Steagall – Robert Reich

Too Big To Fail Lives On – Tim Duy’s Fed Watch

JPMorgan Chase: London whale swallows $2B – CBS

'This Certainly Does Take The Halo Away At Least For A While'. – HITC

JPMorgan Reveals Significant Trading Loss; Shares Plummet – FOX

The unconventional hedge, redux – alphaville / FT

JPMorgan Chase: It’s Crunchtime – TIME

Long and the Short of JPMorgan – ZH

Does Jamie Dimon Even Know What Hedging Risk Is? – azizonomics

Imperfect, OverReaching, Bonus-Driven Bankers – The Big Picture

Deutsche Bank Takes A Jab At JPM's "Fail Whale" – ZH
 

[JPM Whale-Watching Tour] Too Big To Hedge – alphaville / FT 

What Could have Happened at JPM – TF Market Advisors

So You Wanna Talk About JPM’s Trading Loss and The London Whale – Kid Dynamite  

In My View, Jamie Dimon Should Step Down – HITC
 

JPMorgan Chase Conference Call Transcript – (pdf)

Ten Big Questions for JPMorgan – CNBC

Portales’s Peabody Says JPMorgan Stock Will Suffer – BB (audio)

BGC’s Buik Says JPM’s Dimon Is `Spitting Blood' – BB (audio)

CLSA’s Mayo Says JPM Loss `A Big Black Eye' – BB (audio)

After JPMorgan Trading Debacle, A Chorus of Criticism – DealBook / NYT
 

Regulators Looking Into JPMorgan Trading Activities Before $2 Billion Loss – DealBook / NYT
 

J.P. Morgan's $2 Billion Blunder – WSJ
 

JP Morgan Debacle Reveals Fatal Flaw In Federal Reserve Thinking – EconoMonitor

JP Morgan's Loss: The Explainer – Marketplace

Dimon's $2 Billion Bet Proves the Volcker Rule – Advanced Trading

Wonkbook: 'Just because we’re stupid doesn’t mean everybody else was' – WP

How dumb rules can mitigate model risk – Felix Salmon / Reuters

J.P. Morgan Blunder Puts Bank In Regulators’ Crosshairs – MarketBeat / WSJ

What Beached the London Whale? Credit Indices – MarketBeat / WSJ
 

The Hit to J.P. Morgan’s Reputation ‘Really Hurts’ – MarketBeat / WSJ
 

Smartest Man in the Room Looks Dumb – Doug Kass / The Street 

Chart of the day: The CDX NA IG 9 basis – Felix Salmon / Reuters

It's Just Kids Playing With Dynamite – BI

Investor Farrell Says ‘Liquidity Abandoned’ JPM Trade – BB (mp3)

S.E.C. Opens Investigation Into JPMorgan’s $2 Billion Loss – DealBook / NYT

The Tale Of A Whale Of A Fail – Dealbreaker

Paul Volcker vs. the London Whale – Wonkblog / WP

Neil Barofksy on JPMorgan Trading Loss, Regulation – The Big Picture

JP Morgan–Aaaaarrrrgggghh – The Big Picture

You Know How J.P. Morgan Has a PR Problem? Mom’s Anxious – MarketBeat / WSJ

Is J.P. Morgan Still a Buy? – MarketBeat / WSJ

Hedge Funds On the Other Side of J.P. Morgan’s Whale – MarketBeat / WSJ

What Jamie Dimon Doesn’t Know Is Plain Scary – View / BB

Santelli On CDS Regulation And Why Bank Analysts Failed – ZH

J.P. Morgan’s London Whale, and Other Disastrous Trades – MarketBeat / WSJ

How Exactly Did JPMorgan Pass a Fed Stress Test? – Advanced Trading

Top 10 Biggest Trading Losses in History – TIME

ADDED 12-MAY

JP Morgan's $2bn losses reveal a less than comfortable position – The Guardian

Dimon vs. Volcker, the Television Series – DealBook / NYT
 

In JPMorgan Chase Trading Bet, Its Confidence Yields to Loss – DealBook / NYT

Loss Stains JPMorgan’s Chief, One of Banking’s Top Risk Managers – DealBook / NYT

The Bet That Blew Up for JPMorgan Chase – DealBook / NYT

Bank Regulations Gain Fresh Support – DealBook / NYT

Dimon’s ‘Meet the Press’ Appearance Mired in Controversy – DealBook / NYT

Before Loss, JPMorgan Was One of Volcker Rule’s Fiercest Foes – DealBook / NYT

'No Surprises,' J.P. Morgan Tells Troops After $2 Billion Loss – FINS

Counterparties: Your massive guide to JPMorgan’s failed hedge – Felix Salmon / Reuters

JPMorgan, a Fitch ratings harpooning [update: now S&P] – alphaville / FT

[JPM Whale-Watching Tour] What position transparency? – alphaville / FT

Index That Beached J.P. Morgan’s Whale Gets Whackier – MarketBeat / WSJ

J.P. Morgan Erases More Than $14 Billion In Market Value – MarketBeat / WSJ

Welcome to the Jamie Dimon Network – Where’s It’s All Dimon, All the Time – The Reformed Broker

What the TF? Can the 800 Pound Gorilla be Thoughtful? – TF Market Advisors

JPMorgan Sought Loophole on Risky Trading – NYT

JPMorgan’s Trading Loss May Call for More Fed Supervision – BB

Understanding J.P. Morgan’s Loss, And Why More Might Be Coming – The Big Picture

JPMorgan made some $5bn on Friday using accounting magic called DVA – Sober Look

ADDED 13-MAY

Polishing the Dimon Principle – WSJ
 

A Defense of the Morg – Bruce Krasting
 

Inside JPMorgan’s $2 billion loss-making CIO division – Euromoney

JPMorgan's VAR model did not capture liquidity risk of the massive IG vs. HY position – Sober Look

What Was Not Said During Jamie Dimon's Media PR Campaign – ZH
 

Jamie Dimon's SNAFU: JPMorgan's Other Derivatives' Losses – Huffington Post

Three to Exit J.P. Morgan After Losses – WSJ
 

Ina Drew, the London Whale’s Boss, Loves a Good Crisis – Deal Journal / WSJ
 

Drew Built 30-Year JPMorgan Career Embracing Risk – BB

The One Thing Jamie Dimon Got Right This Week – View / BB

ADDED 14-MAY

CDS market says Berkshire Hathaway and JPMorgan now carry the same credit risk – Sober Look

Blame Ben not Jamie – Economic Musings

JP Morgan and systemic risk – Econbrowser

Has JPMorgan Already Unwound Its Losing Trade? – ZH
 

What about that JP? – ZH
 

JPMorgan execs set to leave, sources say – Reuters

Analysis: The core problems with JPMorgan's failed trades – Reuters

Analysis: Fed regulators in hot seat over JPMorgan loss – Reuters

JPMorgan CEO says bank reacted badly to red flags – Reuters

JP Morgan and Systemic Risk – EconoMonitor

Jamie Dimon’s failure – Felix Salmon / Reuters

JPMorgan: the management change – alphaville / FT
 

Michael Olenick: WhaleMu – JP Morgan’s Next Surprise? – naked capitalism

JPMorgan Loss Claims Official Who Oversaw Trading Unit – DealBook / NYT

JPMorgan Names C.I.O. to Succeed Ina Drew – DealBook / NYT

FAQ: What happened at JP Morgan? And should you care? – Wonkblog / WP

Top JPMorgan Exec Out Over $2B Blunder as CEO Dimon Faces Heat – TIME

After $2 Billion Trading Disaster, JP Morgan Exec Expected to Resign – TIME

JPMorgan's New CIO Tied to Madoff, U.S. Treasury, LTCM – The Street

'We Believed Our Own Hype' - Post From A JP Morgan Staffer – HITC

After $2 Billion Trading Loss, Will JPMorgan Claw Back Pay? – DealBook / NYT

Ina Drew’s Successor at JPMorgan Has a Long History With Risk – DealBook / NYT

JPMorgan's Loss: Illegal, or Just Bad Judgment? – DealBook / NYT
 

ADDED 15-MAY

[JPM Whale-Watching Tour] Two billion dollar ‘hedge’ – alphaville / FT

Regression to the Mean, JPMorgan Edition – Baseline Scenario

TFMkts Analysis: The JPM Conference Call – A Closer Look

After $2 Billion Loss, JPMorgan Reshuffles Trading Group – DealBook / NYT
 

Dimon heads into JPMorgan annual meeting as losses loom – Reuters

“Everything is a Hedge” – The Big Picture

Dimon Geezer – The Daily Capitalist

Satyajit Das: Topiary Lessons – JP Morgan’s US $2 Billion Loss – naked capitalism

ADDED 16-MAY 
Will JPMorgan’s $2 Billion Blunder Finally End ‘Too Big to Fail’? – TIME

The toughest guy on Wall Street (2006) – Fortune

Why JPMorgan Should Become 'Boring' – DealBook / NYT

F.B.I. Begins Preliminary Inquiry Into JPMorgan – DealBook / NYT
 

JPMorgan: What’s the Fuss? – EconoMonitor

Topiary Lessons – JP Morgan’s US $2 billion Loss – EconoMonitor

The Truth About JP Morgan’s $2 Billion Loss – Washington’s Blog

Analysis: JPMorgan repeats basic mistakes managing traders – Reuters

In Scrutiny of JPMorgan Loss, Bigger Questions Left Unanswered – DealBook / NYT

JPMorgan Proves We Don't Need More Regulation – reason

What the TF? JPM, Just the Facts, Ma’am. – TF Market Advisors

The hedge funds that are profiting off JPMorgan's bad trade – CNNMoney

Bruno Iksil Leaving – ZH

Why JP Morgan’s CIO found it so easy to make money – Felix Salmon / Reuters

'London Whale' Said to Be Leaving JPMorgan – DealBook / NYT

[JPM Whale-Watching Tour] Recap and tranche primer – alphaville / FT

JPMorgan still employs "whale" trader – Reuters

Is Dimon’s ‘Stupid’ Defense a Smart Move? – Yahoo!

Jamie Dimon’s Hedge Fund – Reality Check

ADDED 17-MAY 
How Bruno Iksil lost $2 billion – Felix Salmon / Reuters

Macey’s Apologia for JPMorgan’s “Hedginess” – The Big Picture

Michael Crimmins: Why the Cops Should be Knocking on Jamie Dimon’s Door Soon – naked capitalism

JPMorgan’s ‘London Whale’ Loss Rises to $3 Billion as Lawsuits Fly – TIME

The Dog That Didn’t Bark: Obama on JPMorgan – Robert Reich

JPMorgan’s Trading Loss Is Said to Rise at Least 50% – DealBook / NYT

Bove Says U.S. Should `Call off the Dogs’ on JPM – BB (mp3)

Levitt Says Regulators Are `Overreacting' to JPM Loss – BB (mp3)

How JPM's "Hedge" Blew Up In One Easy Chart – ZH

What JPMorgan Didn't Learn From Previous Bad Trades – DealBook / NYT

Senate Committee to Invite Dimon to Hearings – DealBook / NYT

Where Prosecutors Might Focus in Their JPMorgan Inquiries – DealBook / NYT

[JPM Whale-Watching Tour] The high yield tranche piece – alphaville / FT

Jamie Dimon "Invited" To Testify Before Senate – ZH 

ADDED 19-MAY 

Dimon in the rough: A scramble to benefit from a bad trade – The Economist

It's Not Over Yet For JPM – ZH

So How Are JPM's Prop "Counterparties" Faring? – ZH

The Bigger They Are, The Harder They (Should) Fail – All About Alpha

ADDED 21-MAY

J.P. Morgan and the Marlboro Man – The Epicurean Dealmaker

JPM: What Did Jamie do? How they hedged the hedged hedge is key – TF Market Advisors

JPMorgan CIO Risk Chief Said to Have Trading-Loss History – BB

JPMorgan and the Volcker Rule's Hedging Exemption – Economics of Contempt

More Evidence of Lax Oversight of JP Morgan Chief Investment Office – naked capitalism

How JPMorgan Is Like Enron – View / BB

Dimon’s Déjà Vu Debacle – Krugman / NYT

[JPM Whale-Watching Tour] Oh, so now it’s a $5bn loss? – alphaville / FT

JPMorgan Chase loss only going to get worse – CNNMoney

JPM: Some Thoughts and Good Sources – TF Market Advisors

Jamie Dimon Shows Some Love for Volcker Rule – DealBook / NYT
 

IG CDX diverges from S&P500; JPMorgan advocates mean reversion trade – Sober Look

What Did JPMorgan Execs Know and When Did They Know It? – ProPublica

ADDED 22-MAY
JPMorgan Losses Become Tool in Regulatory Debate on Capitol Hill – BB

US CFTC chief confirms investigation of JPMorgan – Reuters

JPMorgan Said to Hire Ex-SEC Enforcement Chief McLucas – BB

Counterparties: JPMorgan’s giant search for yield – Felix Salmon / Reuters

The Volcker Rule and a Trade Gone Wrong – AllAboutAlpha

ADDED 23-MAY 
An $8bn Loss Or Was JPMorgan 'Unhedged, Long-And-Wrong' Post-LTRO2? – ZH

JPMorgan’s Addiction to Gambling on Derivatives – W.K. Black / The Big Picture

ADDED 24-MAY 
JP Morgan’s reputation plunges – Felix Salmon / Reuters

Did falling correlations cause JP Morgan’s trading losses? – Felix Salmon / Reuters

Jamie Dimon and the Fed's Legitimacy – DealBook / NYT

JPMorgan Joins MF Global in Lobbying Wins That Backfire – BB
 

JPMorgan’s Deficient Disclosures – DealBook / NYT

ADDED 25-MAY 

J.P. Morgan Stretches the Definition of ‘Hedge’ – MarketBeat / WSJ

JPMorgan Gave Risk Oversight to Museum Head – BusinessWeek

Presenting JPM's Uber-Prop Trading Desk: Meet The SIO Inside The CIO – ZH

Fed data expose $100 billion JP Morgan position – Reuters

2 Huge Leadership Lessons from JPMorgan – Forbes

The Dark Nooks in JPMorgan’s Fortress Balance Sheet – DealBook / NYT

Why JP Morgan’s gamblers need to be spun off – Felix Salmon / Reuters

ADDED 1-JUNE

JPMorgan’s debacle, and its parallels to AIG – The Big Picture

J.P. Morgan replaces prime brokerage chief: report – Reuters

JPMorgan dips into cookie jar to offset "London Whale" losses – Reuters

JPMorgan CIO Swaps Pricing Said to Differ From Bank – BB

A few more questions on JP Morgan and the London Whale – ZH

JPMorgan CIO Swaps Pricing Said to Differ From Bank – BB

Dimon to Testify on June 13 – DealBook / NYT

JPMorgan’s Iksil Said to Take Big Risks Long Before Loss – BB