The United States wants $6 billion from Jamie Dimon and JPMorgan

via the Financial Times.....

US authorities are demanding JPMorgan Chase pay more than $6bn to settle allegations it mis-sold securities to government-backed mortgage companies in the run-up to the financial crisis.....

Boaz Weinstein, the guy with Jamie Dimon's money

Who is Boaz Weinstein?

The financial world remains abuzz with talk about all things JP Morgan, Jamie Dimon and billions in trading losses.

Also getting more attention is one of the guys on the other side of the transaction. The profitable side. The very profitable side. The extremely profitable side.

That guy is Boaz Weinstein who runs the billion dollar hedge fund called Saba Capital Management in New York.

Again, so who is Boaz Weinstein? Well, he is certainly a guy with a sense of humor at least. This is indicated by the above chart he included in a presentation at a financial conference recently.

Boaz Weinstein is a skilled chess, poker and blackjack player. He was graduated from the University of Michigan.  He became Deutsche Bank’s youngest ever Managing Director. He started Saba Capital in 2009.

That is who Boaz Weinstein is.

Have a nice day Jamie Dimon.

Two Shareholders Sue J.P. Morgan Over Trading Losses

NEW YORK—Two shareholder lawsuits were filed late Tuesday against J.P. Morgan Chase JPM +1.74% & Co. and its top executives over the revelation last week that the bank had suffered more than $2 billion in trading losses. The lawsuits alleged that the bank's top executives, including Chief Executive Jamie Dimon, misled investors about the company's investment exposure and the potential risk of loss on those bets.

 "These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for J.P. Morgan shareholders," one of the lawsuits said.

- The Wall Street Journal

Jamie Dimon: Way too big to fail

Who is Jamie Dimon?

The answer is a simple one. Jamie Dimon is simply Way Too Big to Fail.

Jamie Dimon is currently chairman and CEO of JP Morgan.

Interestingly, Jamie is also on the board of the New York Federal Reserve Bank. A banking regulator and important part of U.S. monetary policy.

Jamie Dimon was a classmate of (now GE chairman and fellow crony capitalist) Jeffrey Immelt while studying for their MBA's at the Harvard Business School. Jeffrey Keith "Jeff" Skilling, former President of Enron and also a Harvard MBA, was not a classmate of Jamie Dimon while at Harvard. Jeff Skilling is currently serving a 24-year, four-month prison sentence at the Federal Correctional Institution in Englewood, CO.

This month, JP Morgan received worldwide global attention for its $2 billion financial market trading loss disclosure. If you have a problem with this trading loss as a shareholder, JP Morgan customer, or a U.S. taxpayer, please remember: Jamie Dimon is Way Too Big to Fail.

On December 31, 2005  Jamie Dimon was named CEO of JP Morgan Chase (NYSE: JPM). One year later, he was named chairman.

When Jamie Dimon began as CEO JP Morgan stock was selling for $39.69 per share. JPM closed trading on May 15, 2012 at $36.24. The 7-year total-Jamie-Dimon-JPM-return is down over $3 per share. When Jamie Dimon began as CEO, JP Morgan was providing shareholders with a 34 cent per share quarterly dividend. That dividend was cut to 5 cents per share in 2009 and is now up to 30 cents per share quarterly.

If you have a problem with this stock performance as a JPM shareholder, again, please do remember: Jamie Dimon is Way Too Big to Fail.

I told you homeboy ( can't touch this)
Yeah, that's how we living and you know (can't touch this)
Look at my eyes, man (You can't touch this)
Yo, let me bust the funky lyrics (can't touch this)

   MC Hammer - Can't Touch This

Jamie Dimon

JPMorgan Chase: Billions in Trading Losses

JPMorgan Chase not hedging well at all

One of the world's largest banks, JP Morgan, has reported hedging strategy losses of well over $2 billion U.S.



JP Morgan CEO Jamie Dimon, and Obama Administration insider, said: "This puts egg on our face." 

How did this happen? Why did this happen? One analyst noted that JP Morgan tried to hedge its over-hedge positions. Leverage does as leverage does.