Receiving Wide Coverage ...
Jamie's Cryin': If you are most CEOs, you know it's going to be a tough day when you wake up to read lots of stories about your company that quote people "familiar with the matter." For Jamie Dimon, it is just another day in August. ... The Federal Housing Finance Agency wants $6 billion in connection with its lawsuit alleging that JPMorgan sold Fannie Mae and Freddie Mac $33 billion of tainted mortgage-backed securities ahead of the financial meltdown, several of the major dailies reported. JPM is fighting the offer but could still end up
Meanwhile, the Wall Street Journal reports that JPM's penalties tied to the "London Whale" trading scandal could range from
Moreover, the OCC and Consumer Financial Protection Bureau are preparing a series of enforcement actions that could
Add to all that further coverage of the arrest of a former JPM employee tied to the Whale case, and it was a fun day in the c-suite of the largest U.S. bank.
Another Retro Tune: It's like old times with more news about
Moral Hazard with a View: No shocker that several news outlets had fun with the story of Darryl Layne Woods, who pleaded guilty to using $381,000 of his Missouri bank's bailout funds from the Troubled Asset Relief Program on a waterfront condo in Florida. He is banned from banking and could spend a year in prison.
The Fed's Philatelist: The Washington Post and the Journal performed the annual ritual of combing through the financial disclosures of regulators. Fed Vice Chairwoman Janet Yellen has a stamp collection worth more than $15,000, the husband of Fed Gov. Betsy Duke made a lot of money buying and selling Apple stock, and Fed Chairman Ben Bernanke made anywhere from $100,000 to $1 million in income from three textbooks that he co-wrote, the Post reports.
Wall Street Journal
Here's another lingering headache from B of A's crisis-era acquisitions ... The Justice Department may proceed with a
A Journal editorial praises John Huff, director of Missouri's insurance department, for criticizing some members of the Financial Stability Oversight Council for failing to understand that the regulation of insurance companies is
Financial Times
An opinion piece stemming from all the wonky talk at the Jackson Hole conference calls for central bankers to recommit to
New York Times
Bank of America's
Washington Post
Momentum keeps gathering for the