LondonWhale

Are Banks Giving Up on Credit Cards?

After a long spell of losses on their credit card portfolios, banks are finally seeing that business return to normal profitability. So you might expect that those banks would be racing to offer new credit card to customers. You'd be wrong.

JPMorgan's 'London Whale' Losses May Hit $9 Billion

JPMorgan Chase & Co is under renewed scrutiny in the wake of a The New York Times report that losses from a bungled credit-derivatives trade could be as much as $9 billion, much more than earlier estimated.

Jamie Dimon Quickly Filets the London Whale's Costly Trades

After all the furor surrounding JPMorgan Chase's $2 billion-plus loss on a massive derivatives bet, it now looks like it mya have been "tempest in a teapot" after all. JPMorgan has already exited 70% of the "London Whale" positions that got the bank into hot water.

The Real Impact of JPMorgan Chase Halting Its Share Buybacks

As a result of the bank's recent $2 billion trading loss, JPMorgan Chase announced it would suspend its $15 billion share-buyback program. Here's a primer on the damaging trades, what the buyback program was about, and what its cancellation means for investors.

Global Woes Hold Only 'Modest Contagion' Risk for U.S. Banks

A "modest contagion" for financial stocks "should allow domestically focused financial stocks to stabilize in the coming weeks," despite the JPMorgan Chase trading mess and the "deteriorating conditions in Europe, according to KBW analyst Fred Cannon.