Might even be able to get in a round of golf if you are lucky.
"Regulators are acting to require US banks to build a sturdier financial base to lessen the risk that they could collapse and cause a global meltdown. The eight biggest banks will have to meet stricter measures for holding capital — money that provides a cushion against unexpected losses — under a rule that regulators are adopting Tuesday. The rule won’t take effect until 2018. It applies to eight US banks deemed so big and interconnected that each could threaten the global financial system: Goldman Sachs, Citigroup, Bank of America, JPMorgan Chase, Wells Fargo, Morgan Stanley, Bank of New York Mellon, and State Street Bank."
See:
Final Tourre of Goldman Sachs
Weillding You This Citi Post
Bank of America Now Countrywide
Morgan Stanley Memorial
All too big to jail.
Related:
"Both BNY Mellon and State Street Corp., the nation’s two largest custodial banks, have been dogged by allegations for years that they secretly gouged clients on foreign currency conversions, potentially pocketing billions of dollars in extra fees.... State Street Corp. said it will lay off 400 people this year, in its latest round of job cuts aimed at trimming costs. The Boston-based financial services giant announced the job cuts as it reported first-quarter profits of $356 million..... State Street Corp. moved lower after the bank’s earnings came in below Wall Street expectations. State Street, the ninth-largest US bank by assets, said net income rose 16.4 percent in the fourth quarter, as stronger global stock markets and new business lifted servicing fees. Management fees rose."
Both are all caught up in the LIBOR looting $cheme, the Argentina debt crisis, screwing Massachusetts and Ohio and still getting a big old tax "refund" that is making profits soar no matter who they have to $crew.
Also too big to jail, and at the head of the table:
"JPMorgan earnings fall 18.5%; Wells Fargo reports gain" New York Times April 12, 2014
NEW YORK — JPMorgan Chase reported an 18.5 percent slump in first-quarter earnings Friday as the nation’s largest bank grappled with dual challenges: sluggish revenue from trading and lackluster mortgage lending.
Both issues, broadly buffeting the banking industry, damped profits at JPMorgan.
The net earnings of $5.27 billion....
Awwww, poor, poor JPMorgan Cha$e!!
Also see: JPMorgan Chase reported second-quarter profit of $6 billion
As the nation’s largest bank, JPMorgan has become a kind of bellwether for the broader industry. The lukewarm results Friday underscored how Wall Street has struggled to recoup the revenue drained from a slowdown in trading. Compounding the problem, revenue from underwriting bonds has also dipped in recent quarters.
They made over $5 f***ing billion dollars and it's a lukewarm complaint.
Does the self-internalized greed know no bounds?
Still, Wells Fargo, which relies far less than its rivals on fixed-income trading and traditional Wall Street activities under pressure from a spate of new regulations, sidestepped some of the problems bedeviling JPMorgan. On Friday, Wells Fargo reported profit of $5.9 billion....
Wells Fargo has been a darling of bank investors since the financial crisis. The lender easily passed the Federal Reserve’s recent stress test and its stock has soared over the past year.
For JPMorgan, the results also pointed to just how expensive it has been for the bank to win some kind of peace with Washington. All told, JPMorgan has paid roughly $20 billion in just the past 12 months to resolve a spate of government investigations.
Sigh!
--more--"
The head of the head of the table:
"JPMorgan awarded CEO Jamie Dimon $11.8M last year" by ALEX VEIGA | AP Business Writer April 10, 2014
LOS ANGELES — JPMorgan Chase & Co. chief executive Jamie Dimon’s total compensation fell 37 percent last year to $11.8 million as the nation’s largest investment bank grappled with billions in legal costs and fines.
Dimon’s total compensation fell from $18.7 million in 2012, according to regulatory documents filed by the bank Wednesday.
JPMorgan’s committee on executive compensation noted in the filing that it adjusted all of the top officers’ pay levels to account for the impact the fines and settlements had on the lender’s financial results.
Last year, JP Morgan was hit with legal costs and fines stemming from the housing crisis and its $6 billion ‘‘London Whale’’ trading loss. The financial hurdles contributed to a 16 percent decline in net income for the year.
Related:
Arrests of 2 ex-JPMorgan employees planned
Ex-JPMorgan trader arrested in $6 billion loss
US charges two former JPMorgan employees
JPMorgan facing $700m in fines over losses
JPMorgan set to pay more than $900 million in fines
JPMorgan, SEC near deal in London inquiry
After $920m fine, scrutiny of JPMorgan shifts to management
JPMorgan to admit wrongdoing, pay $100m
That first phrase a first.
Also see:
Crime Does Pay For Dimon
In Defen$e of Banks
The poor, poor babies! It's always woes is me!
Hey, look, they love you, 'kay?
Even so, the panel also praised Dimon for playing a key role in resolving the various legal issues that confronted the bank.
--more--"
Related:
"JPMorgan has been turning in record profits, and its stock price is at a 12-year high. The Rev. Seamus Finn, of the Interfaith Center on Corporate Responsibility, said Dimon brushed over questions about allegations banks manipulated a key interest rate, the Libor."
‘‘Other than the Gobi desert and the polar ice caps, few places on Earth seem to have escaped the scourge of this fraud. This fraud was of epic, and truly global, proportions,’’ special master Richard Breeden said in a statement.’’
No offense, but LIBOR effected a lot more people than Madoff, a picture that is still so clouded and full of lies. Maybe a jailhouse interview or reading of a hidden letter might help.
JPMorgan, Credit Suisse paying $417M in SEC case
Sorry to leave you in the dark on that one.
Top JPMorgan China official tied to hiring probe is leaving
Just taking care of important people.
JPMorgan may pay $11b in US accord
JPMorgan reportedly reaches $13b settlement
JPMorgan faces a $13b settlement but is still winning
And now they have hit a $nag?
JPMorgan agrees to pay $5.1b in Fannie, Freddie deal
JPMorgan Chase reaches $4.5b settlement
JPMorgan to pay $389m over misleading ID service
JPMorgan paying $650K to settle CFTC charges
JPMorgan filed inaccurate reports on the trading positions of some of its large customers and continued to submit inaccurate reports to the agency from 2012 through February of this year even though CFTC staff found errors in them and notified JPMorgan. The New York bank neither admitted nor denied wrongdoing in the settlement.
And they are all now back to the same old tricks.
