JP Morgan Chase President and CEO Jamie Dimon doubts that an appropriate definition can be made between proprietary trading and hedging despite also mentioning that the Volcker Rule may have helped prevent larger losses for JP Morgan. “I think the devil is going to be in the detail in how these rules are written to […]
During questioning by the US Senate Committee on Banking, Housing, and Urban Affairs, Chairman and CEO of JP Morgan, Jamie Dimon divulged the lessons he learned from JP Morgan’s 2 billion dollar loss. “No matter how good you are, how competent you are, never ever get complacent in risk.”
During a hearing with a Senate Appropriations Subcommittee, Sen. Lindsey Graham (R-S.C.) said that sequestration amounted to a dubious, bipartisan “accomplishment.” Graham added that it was going to take a similar level of bipartisanship to take the country out of the looming crisis.
With the threat of sequestration looming, Defense Secretary Leon Panetta warned a Senate Appropriations subcommittee Wednesday that allowing the automatic defense cuts to take place will have consequences beyond a constrained military. Although noting that “the Defense Department is not a jobs program,” Panetta acknowledged that the cuts could result in a one percent increase […]
Congress now has slightly more than two weeks to make a deal on maintaining the 3.4 percent interest rate on Stafford student loans.
JPMorgan Chase CEO Jamie Dimon apologized to the Senate Banking Committee Wednesday for the financial losses his company suffered as a result of mismanaged risks.
Speaking to reporters on a conference call Wednesday, Senate Agricultural Committee Chairwoman Debbie Stabenow (D-MI) highlighted the unique chance for bipartisan agreement on the deficit reduction measures included in the 2012 Farm Bill.
In the wake of Sen. Rand Paul’s (R-KY) move to introduce a non-germane amendment to the 2012 Farm Bill that resulted in Majority Leader Harry Reid (D-NV) restricting the number of amendments eligible for debate, Sen. Debbie Stabenow remained confident that lawmakers can move beyond obstructionist efforts and work towards passage of the major legislation.
By Luke Vargas Senate Agricultural Chair Debbie Stabenow (D-MI) announced Tuesday that this year’s major Farm Bill legislation is proceeding smoothly through the Senate thanks to the help of Majority Leader Harry Reid (D-NV) and rare bipartisan consensus. Stabenow applauded the ability of a Senators from both parties to move the legislation through the committee […]