Monday, October 21, 2013
Jamie Dimon Complains More, As JPMorgan Chase Losses Eclipse $30 Billion
http://www.huffingtonpost.com/mark-gongloff/jamie-dimon-jpmorgan-chase_b_1533126.html. Due 28 Oct 2013. What did JPMorgan do wrong? How much are their current calculated losses and how big of a fine will they have to pay? What is the Volcker Rule and do you think it is a good idea?? How much government control is necessary in a free market economy?
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JPMorgan Chase made a bet on U.S. corporate bonds. He messed up the bet and lost $2 billion for the bank. He could end up losing $1 billion or more if the market doesn't cooperate. The fine they will have to pay will be huge, about 30 billions. The Volcker Rule is what would prohibit banks with federally insured customer deposits from being able to blow billions of dollars on stupid market gambles, in other words, restrict United States banks from making certain kinds of speculative investments that do not benefit their customers. I think it is a good idea because all our money really go into banks and most of them aren't there to help society. Matter of fact, they don't even care about society. In my opinion, although a market might be in a free market economy system, there still need to be some government control. Without the government, some laws/rules cannot be set. The country would be in more chaos than it already is.
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ReplyDeleteJPMorgan loss $2billion due to poor risk-management. He could end up losing about $6 billion. The Volcker Rule is a thoughtful effort to make the banking system safer and it also minimize conflicts between banks and their clients. I think the Volcker Rule is also a good idea because it make sense for long-term stability of the banking system. It is also a good idea because now our money will be safer. However, before banks and individuals were sending letters to the Federal Reserve. Although the Volcker Rule is a good idea, it won't be cheap. I think it will cost a lot of money. I think a free market needs a lot of government control. Sometimes government intervention is needed to save the free market economy from collapsing. And I think a free market is under the government control and it is under the product of a government rule and regulations.
ReplyDeleteJPMorgan made very poor investment risks losing almost $5 billion and clearly breaking the Volcker Rule. JPMorgan has a total loss of almost $30 billion including stock price dropping at the moment which will more then likely rise even higher due to the risky investments. The fines have reached almost $6 billion already and may rise higher. The Volcker Rule is designed to stop banks from risking billions of dollars on "market gambles". It is a good idea because gambling billions of dollars can bring great losses. If the rule was properly followed, it would make the banks more stable. A low level of government control is necessary in a free market economy when a bank can't even follow "rules" designed to limit their losses and make huge,risky gambles that effect many people.
ReplyDeleteJPMorgan had a trading loss due to poor risk-management. Their current losses are known for sure to be $2 billion with the total becoming roughly $6 billion. The fines due to the drop in the bank's stock price may add up to $30 billion. The Volcker Rule prohibits banks with federally insured customer deposits to blow billions of dollars on market gambles. I think this is smart because it is trying to protect the customers who are investing into the banks but it will become costly. The amount of government necessary for a free market is to give them rules and regulations so that the banks do not "gamble" away their money or their customers too.
ReplyDeleteJPMorgan lost an initial $2 Billion due to a poor record of risk management. Their current calculated losses have tripled to be about $6 Billion. There is an extra cost of $2 Billion because of bad bets on unregulated credit derivatives. The Volcker Rule is supposed to prohibit banks with federally insured customer deposits from being able to spend billions of dollars on market gambles. Yes I think it is a good idea because it keeps the risk level of losing customers' money low. As of right now I think the government coming in this much is good because businesses should not lose money from other people just to gain money for themselves selfishly.
ReplyDeleteJPMorgan loss $2billion because of mad investments. It is estimated the bank is losing about $6 billion dollars total. The Volcker Rule is a way to make the banking system safer by stopping banks from risking billions of dollars on "market gambles" and minimize conflicts between banks and their clients. I think the Volcker Rule a good idea because it the banking system stable. A good amount of government control in needed in a free market because without it businesses and corporations would not care about the wellbeing of the people. If they can’t follow a rules that limits their own losses why would they care about the loses of others.
ReplyDeleteWhat JPMorgan had done wrong is that they did not manage their risk management all to well and the amount of investments they had made. The calculated losses that JPMorgan will have to pay had accumulated up to about six billion dollars. The Volcker Rule, as explained in the article, is a rule that prohibits banks with federally insured customer deposits from being able to blow billions of dollars on unnecessary items, which I think is a good idea. Government control is necessary in a free market, how much is very difficult to determine but at least to the point where it can stop illegal activities.
ReplyDeleteJP Morgan made poor judgments and gambled with their investors' money which caused them to lose about $2 billion which makes it $6 billion in total. With their losses and fines combined, JP Morgan could be looking at a total payment of around $30 billion. The Volcker Rule says that the bank cannot gamble with billions of their federally insured customer deposits which i believe is a good idea and keeps the common people's money safe. Government control in a free market economy is essential in making sure that banks are managing their money properly.
ReplyDeleteThe mistake that JPMorgan had done was that he did not manage his investments well enough to keep a positive profit. He therefore lost 2 Billion dollars wich then tripled to about 6 Billion dollars which also had to do with $2 Billion because of bad bets on unregulated credit derivatives. The Volcker Rule is "what prohibit banks with federally insured customer deposits from being able to blow billions of dollars on stupid market gambles." In a free market economy government control is a definite nessesity in order to remain control and avoid chaos.
ReplyDeleteJPMorgan lost a lot of money due to poor risk-management. The initial loss was $2 billion, resulting in a total of $6 billion. The fines add up to around $30 billion. The Volcker Rule prohibits banks with federally insured costumer deposits from spending money on market gambles. I think this is a good idea so that costumers know their money is safe and will hopefully make sure that losses on this scale will not happen again. The amount of government control necessary in a free market economy is enough that will give certain rules so banks will not use the money of their costumers to gamble and act unwisely.
ReplyDeleteJP morgan lost a lot of money from making investments they shouldnt have made. The Current calculated loss is approximately about 30 billion dollars. The Volcker rule stops banks from spending tons of money on market gambles. I think its a good idea, because it prevents risk of losing peoples money. I believe the amount of government control necessary in a free market is whatever amount it takes to make sure that people dont do anything that can harm others. You dont want there to be any issues
ReplyDeleteJP Morgan lost money from his poor risk-managemnet. ? Their current losses is calculated to be $2 billion in trading and has likely resulted in a total loss of more than $30 billion, when you include a 19 percent drop in the bank's stock price. Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customersand. I think it is a good idea so people are able to put their money in banks and feel safe about it. A good amount of government control is necessary in a free market economy, without government control I think it could result in bad results.
ReplyDeleteJP Morgan made a mistake by breaking the Volker rule and losing about 5 million dollars. They have lost roughly 6 million dollars and will have to pay a enormouse fine of about 30 Million dollars. The Volker rule was created so that banks don't spend money on market gambles and I do think this rule is good, It protects the money that is put into a bank and im pretty sure people don't want their banks to go bankrupt. Government control is need tremendously I believe, it stops illegal activity and is the reason why many companys are paid what they are paid.
ReplyDeleteJP Morgan made a mistake by breaking the Volker rule and losing about 5 million dollars. They have lost roughly 6 million dollars and will have to pay a enormouse fine of about 30 Million dollars. The Volker rule was created so that banks don't spend money on market gambles and I do think this rule is good, It protects the money that is put into a bank and im pretty sure people don't want their banks to go bankrupt. Government control is need tremendously I believe, it stops illegal activity and is the reason why many companys are paid what they are paid.
ReplyDeleteJPMorgan has lost about $6 billion due to poor risk management. They had an initial $2 billion loss, which tripled. Their stock prices has tumbled almost 19% which led to a total loss of more than $30 billion. The Volcker Rule is a good idea because it will prevent banks from dealing with risky situations that can harm investors or users of that bank. The Volcker Rule would hinder banks with federally insured customer deposits from gambling in the market. No government control is needed in a free market economy, unless you want to prevent a small number of people from controlling all or some industries. For a market economy to be fair to everyone in that economy, a large amount of government regulation is required.
ReplyDeleteJPMorgan made an initial lose due to poor risk management of $2 Billion. The current total loss is known to be $6 Billion. Also there's an extra cost of $2 Billion because of bad bets on unregulated credit derivatives.The Volcker Rule is suppose to be a way to make the banking system safer by stopping banks from risking billions of dollars on "market gambles" and minimize conflicts between banks and their clients. I do think it's a good idea because it keeps the risk level of losing customers' money low and in that case it'll be a good thing for the government.
ReplyDeleteJPMorgan did a very poor investment, in which the initial loss was $2 billion dollars, and now its being estimated up to $6 billion. The fines seem to be $30 billion. The Volcker Rule is when banks with federally insured customer deposits are prohibited from being able to blow billions of dollars on stupid market gambles. I think this is a good rule, in which it benefits the investing customers. The government control necessary in a free market is the ability to have rules and regulations, in this case so the banks would not gamble the customers money in poor risky management.
ReplyDeleteJP Morgan made a really bad mistake of loosing 2 billion dollars in a trade, which initially led to a loss of about 30 billion dollars. The Volcker rule, in my eyes is a great idea because it helps the banks not waste large amounts of money on market gambling, which just happens that JP Morgan disobeyed that rule. I feel like government control plays a huge roll in the market economy, it keeps everything limited so nothing gets out of hand and end up in bad situations like loosing 2 billion dollars by trading.
ReplyDeleteJPMorgan had an initial lost of $2 Billion due to a poor record of risk management. Their current calculated losses have tripled to be about $6 Billion. as the article states that the Volcker rule prohibits banks with federally insured customers deposits from being able to blow billions of dollars on stupid market gambles, which is a very good idea because it keeps the peoples money assured. I think the government control is necessary so they won't waste the people's money on unnecessary things and it sets rules and regulations so that won't happen.
ReplyDeleteJPMorgan Chase lost $2billion because of poor risk-management. The Volcker Rule is an effort to make the banking system much safer by prohibiting banks with federally insured customer deposits from blowing of billions in market gambles. I think it is smart because it protects people who put money into banks. I think government control in a free market how much is needed is hard to say I think just a little would be just enough to stop illegal activity and to make sure banks are managing money correctly and not just blowing it all off.
ReplyDeleteJPMorgan Chase made a mistake because of poor risk management and lost 2 billion dollars. They've lost about 6 billion dollars and unfortunately will have to pay 30 billion dollars eventually. The Vlocker rule is supposed to help banks not spend ridiculous amounts of money on market gambling. I believe that the Vlocker rule is good idea because it helps keep the risk level of losing customers' money low. The government control is needed so that these huge companies, like JPMorgan, don't go into debt and have to pay off these enormous amounts of money. Without government control there would be scams, resulting in money loss in producers and consumers.
ReplyDeleteJP Morgan made very poor judgments which led to a loss of 2 billion dollars which later totaled to be 6 billion dollars.JP Morgan could be at a total pay of 30 billion dollars with the amount of fines and losses combined. The Volcker Rule is saying that the bank is prohibited from gambling with their billions of federally insured customer deposits. I think that this is a rational idea because it keeps the peoples money safe. Moreover, government control in a free market economy is very important because it makes sure that banks are properly managing their money.
ReplyDeleteJPmorgan chase ended up losing 2 billion dollars in a poorly handled trade. If you include the 19% drop in the stock prices then they would of added a total of 30 billion to their losses. The trading loss alone is expected to hit 6 billion. Volcher's rule states that banks with federally ensured deposits shouldn't be able to gamble it away. Yes I do think that this is a good idea because it will give depositors safety in where they save their money. I think their needs to be enough government control to stop producers from being completely unreasonable.
ReplyDeleteJPMorgan Chase lost $2billion because of poor risk-management. Their current calculated losses have tripled to be about $6 Billion. The Volcker Rule is when banks with federally insured customer deposits are prohibited from being able to blow billions of dollars on stupid market gambles. I feel like government control plays a huge roll in the market economy, it keeps everything limited so nothing gets out of hand and end up in bad situations like loosing 2 billion dollars by trading.
ReplyDeleteJPMorgan made a miscalculation on their risk-management and ended up losing $2 billion. Their current calculated losses are $6 billion just from the trade and a total of $30 billion. The volcker rule would stop banks that had federally insured deposits from being able to waste billions of dollars on market gambles. I think this is a pretty decent idea. This would stop banks from doing stupid things in the market and protect the people who have their money in these banks. Personally I think there is some government control needed in a free market economy. While the basic definition of a free market economy states that there is no government control, without it, even more money would end up getting lost.
ReplyDeleteThe conflict started when JPMorgan made a harmful investment, which result in the loss of $2 billion due to risk-management.Therefore, with a 19% drop in the stock prices; the amount of fine should be should be $30 billion. The Volcker Rule, as mentioned in the article is a rule that prohibits banks withfederally insured customer deposits from being able to blow billions of dollars on gambles. The Volcker Rule is a good idea because it pose as an insurance for the members of the banks, because it's one significant way to protect their money.
ReplyDeleteJP Morgan made a terrible investment decision that cost them greatly, with lost of 2 billion dollars. The current lost for JP Morgan is calculated at 6 billion dollars from there trades and a grand total of 30 billion dollars. The volcker rule stops a bank from iwasting insured federal money on stupid gambles with insured money. This idea is not so bad, because would stop a lot of banks from gambling peoples money who decided to save their money inside these banks. I do believe some control is required in a free market to ensure the protection of people in it and also lower risk some companies go into it with. This can drastically affects others without them knowing because banks doesn't tell you what they do with your money exactly.
ReplyDeleteJp morgan chase lost 2 billion dollars due ti poor decions and overalll ended up losing 30 billion dollars.the volcker rule is a rule to minnamize risk. The rule is a good idea because the need to not lose 2 billion dolars on a gamble. Some governent control is needed to makr sure banks dont go crazy but not not to much that trading becomes diffuclt.
ReplyDeleteWhat JP Morgan did wrong was risk a big investment by not keeping record of it. Their current loss is $2 billion dollars and the calculated amount of losses is estimated to be around $6 billion dollars not including the $2 billion they already lost due to the poor record of risk management. The Volker Rule prohibits banks like JP Morgan that have federally insured customers deposits from gambling with their money and risking loss of billions and billions of dollars. I think this rule is a good idea because it keeps the money of the people safe and not have to worry about situations such as this one. I think a bit of government intervention is needed to protect the people and their money from banks.
ReplyDeleteJP Morgan lost money from his poor risk-managemment. Their current losses is calculated to be $2 billion in trading and has likely resulted in a total loss of more than $30 billion, when you include a 19 percent drop in the bank's stock price. Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customer stand I do believe some control is required in a free market to ensure the protection of people in it and also lower risk some companies go into it with. This can drastically affects others without them knowing because banks doesn't tell you what they do with your money exactly.
ReplyDeleteJamie Dimon is mad about the moves JP Morgan recently have done and iis complaining about the loses they made. JP Morgan has dropped the value of all their shareholders and its hurting the market. JP Morgan has an estimated 30 billion lost but as of now it's 2 billion & it because poor money management that they have lost their customers money. The Volcker Rule, which if it is ever actually put in place in any real way.. The money of customers can't be used as it was. People are suppose to trust banks but I see Chase isn't managing well.
ReplyDeleteJPMorgan, due to poor risk-management has lost $2 billion because of bad investments. In total according to the article it has tripled to $6 billion. The Volcker Rule is a banking system that regulates customer deposits from being blown on stupid market gambles. I personally think it is a great idea because of the incident that took place with JPMorgan and Chase in this article. Government control is subjected to change based on the situation and its impact it has on the market.
ReplyDeleteIn the article it is stated that JPMorgan has lost $2 billion from their risk-management department. Their current calculated losses are up to three times their original loss, $6 billion. In the article it states the Volcker Rule as a regulator for financial institutions protecting the money deposited for the customers. It is instituted as a guard against the banks in reality. I think it is a wonderful regulation so that I know as well as others that companies such as JPMorgan cannot get away with this activity. Government control will vary because different situations call for different measures.
ReplyDeleteJp Morgan gambled on us bonds, and lost 2 billion dollars.That 2 billion has tripled to an estimated 6 billion.The Volker rule is meant to protect money deposited by customers.Even in a free market government control is necessary to make sure that company practices are fair and moral.
ReplyDelete