35 Burst results for "Jp Morgan"
Zuckerberg part of $100M ‘California Black Freedom Fund’
"Organizations and corporations have launched the California Black Freedom Fund. It is a five year $100 Million initiative that the group says will provide resource is too black lead organizations in the state aiming to eradicate systemic racism. 25 thunders include philanthropic groups of Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan. Philanthropist Lorien Powell Jobs as well as JP Morgan Chase. The group says the fund aims to address what they call the history of under investment in black lead organizations. Report
Hi Lo Silver
"Taiwan is a director and global markets. At the bank of montreal. He wanted us to stress. his comments. reflect his personal opinions and are not the official position of the bank of montreal. So i asked him to give me his thoughts about the very essence of silver. Sometimes we call in our circles the devils metal because when it moves it can sit for a long time and not wrote but when it moves it can move rapidly and with a certain amount of viciousness fed devils metal sunday commodities trading seems way more exciting than it usually does like the devils metal sounds very treacherous so there are several theories that have been bouncing around the market now a bites spike in silver. And why it happened and who is behind it and let's not forget silvers. Thirteen percent swing oviously pales in comparison to the nearly five hundred percent jump in price that game stop stocks or last week. But that doesn't mean that there weren't any casualties in the silver market. Yes there were winners and losers ryan. I asked tie with a maybe that was the whole point. That like with game stop stock. Some traders might have tried to talk up the price of silver with the aim of hurting some big wall street players who are in the silver market. So that's the first theory and it was one that tired hurt as well. The stories made. It's made its way on reddit. Which one was that j. P. morgan was desperately short Silver and would have to cover. This was a way to get a j. p. morgan which is The biggest bank in the united states that conspiracy theory has been around for a long time. It is also a canard jiffy morgan's one of the biggest bullion banks in the world. They lend lot of metal out but they typically do not lend it out uncollateralized they lend metal but you have to give them dollar so while they may be short metal in a location for a short period of time. It's never anything that could come anywhere near to bringing a major bank to its knees much less. Jp morgan so this was already going after j. P. morgan no j. p. morgan not in in the crosshairs got it so theory to then so those. This bows going around. Maybe some of the short seller's who got squeezed on game stop last week have been trying to distract what ty likes to call the red legions to shift their attention and their money and their trading activity to silver. That seems a little farfetched. I think if you were short. Jimmy and amc Entirely consumed with trying to make sure your position workout. You had enough funding the hold as long as you could. I'm not sure if those would be the folks who would open up another another front in the in the war. So to speak against the raiders. You can't dismiss it completely out of hand but that seems fairly unlikely so this wasn't like the short seller's strike back no okay well we'll maybe not or maybe it was just a bad strike maybe just about strike strike so theory three then that some traders who long silver which means that they own it an expected to rise in price. Maybe they kind of infiltrated the the red at message boards in order to jack up the price of silver so that they could then make some money. Yeah they they were like double agents kind of double agents in the market. Exactly that you know. That is an appealing narrative. If you're if you're long and you are and you're trying to push the market with with news like this even though you could certainly great reddit account and use a vpn and try to keep your anonymity. This would clearly be considered. I think mark manipulation. Now i'm not an attorney but this type of thing that might lend a a clever entrepreneur. A long stay in federal penitentiary in. That's pretty that's a pretty steep price to pay if you're a silver traitor and you join read it and say like hey everybody jump into silver. You literally go to jail. You could literally go to jail so that seems like the stakes are a little bit too high for me. That is a high price to pay for the devils medal and indeed. So it's maybe not that either but the fact is that something did happen to silver this week tie. It was like a combination of rumors and the willingness of silver traders to grasp this opportunity that was presented to them by this price surge the mindset of market makers and many traders are. Oh you want to push it. You push as much as you like and once you're done we'll see where we end up in It will go on it. We'll go on trading and doing what
U.S. stocks finish slightly higher in choppy session
"Finished slightly higher today and a choppy session Fox business that works Geri Willis in New York reports stocks closing marginally higher Tuesday is interest rates touch their highest levels in months, the Dow closed up 60 points, the S and P was one point higher and the NASDAQ was up 36 points. Losses from major tech companies kept the major averages in check. Big winner today. Goldman Sachs, which closed up nearly 3%, JP Morgan and Bank of America also closed in the green. Higher rates are a positive for the nation's financial institutions, which will be reporting earnings at the end of the week. Rates have been rising since Democrats secured majorities in both the House and Senate and investors expect a big stimulus bill early this year. But higher rates will make it harder. Protect companies to keep expanding at the torpid pace they set last year
Tech Giants Join Corporate Reckoning Over Political Spending
"Is looking at money in politics in a new light. Ah growing list of companies is pausing some political spending after last week's violent attack on the U. S. Capitol. Among them are tech giants Facebook, Microsoft and Google and big banks, Goldman Sachs and JP Morgan. Full disclosure. Those five companies are among NPR's recent sponsors. NPR's Alina Cellucci reports. One after another. Corporations piled on one trade group called for the removal of President Trump and not just hanging group, the National Association of Manufacturers, a longtime supporter of Trump. Many of the tech and banking giants halted all their political giving, at least for a few months. Marriott, Comcast, Airbnb and others stopped donations to specific Republican lawmakers. Those who fought the certification of the election at this moment right that this crisis moment they sensitive, really important signal. MEREDITH McGee. He's the executive director of issue one and nonprofit that works to reduce the influence of money in politics. You just can't really over emphasize the role that donor Play in the current political calculation, and it's unusual to see so many companies on their own without a campaign to pressure them publicly address how they contribute to the current political state. But there are caveats. This is often the moment when many companies reevaluate their political spending right after an election. Plus, there are many ways companies make political donations. All the corporate statements now are about their official political action committees, but there are also super PACs. And tax exempt groups that don't have to disclose donors and a lot of corporate spending flows from individuals like executives. The biggest question is money in politics groups ask. Will this flurry of corporate reckoning be an epiphany or a fat Alina Cell yuk NPR news?
Here Are the New York Companies Hitting Pause on Political Donations
"Companies have suspended political donations. Ah lobbying Group in Washington says We have never seen anything like this. New York companies that have now suspended contributions either to all members of Congress or just two Republican senators who voted against certifying the election. Include Verizon, American Express, MasterCard, BlackRock, Morgan Stanley, Citigroup, Visa and JP Morgan Chase. Now, the R and a golf governing body said. Body says it will boycott President Trump's golf course in Scotland to as the PGA is doing in Bedminster, New Jersey.
Bitcoin Will One Day Hit $1 Million
"Bitcoin blowing through new records today. The crypto currency gaining thirty three percent. This week alone in case you missed it. Wargin creeks anthony. Poblano join us last night here on fast. Listen to what he said about. Bitcoin is headed. If you really think about the technology world we talk about ten x improvement props. Bitcoin is at least ten x better than gold in every way. And so i think that if you just think of a bitcoin product that has to expedite and mortgage cap kind of follows that that would put bitcoin at a million dollars. Coin right just two golds market cap in case you thought you heard wrong. That's a million dollars. A coin became. We're specifically talking about j. p. morgan's known on on Bitcoin from earlier in the week and they were making the point that there have been outflows from gold inflows. Bitcoin as bitcoin has ramped and so the notion is that bitcoin would be a replacement. Are you on board that because that seems to be the main driver these days For the bullish thesis on bitcoin. Yeah i think listen. It's digital goal that narrative has taken off this year among the institutional community and just to put a couple of numbers around that so we have gold. Roughly it's market. It's total value is about ten trillion bitcoins out about seven hundred billion eight hundred billion right now. That jp morgan not talked about if all of the money came out of gold into bitcoin. That would be somewhere around two point seven trillion dollars. So that's probably almost. What a quadruple from the price. From where we all right now maybe a little bit more a quadruple puts you at j. p. morgan's price at one hundred and forty six thousand. So it's not necessarily a reasonable. My only concern is when you you know. And i think pop made a great point. My concern is when you have these these these big upside targets then. People say hey. I'm gonna just going load into it here and i just. I've been doing it for years. But i remind people. Bitcoin has months where it's down thirty forty percent so you could buy a forty thousand today and watch it go to twenty thousand and that would not be unusual and we should make the point to that. Anthony made clear that you could see wild swings on the way to a million dollars a point up twenty percent or down twenty percent or thirty percent for that matter. Cape fat kate. I imagine that your clients are inquiring. I mean this has got to be on everybody's mind so how. How do you approach that honestly. Melissa bitcoin is not my joint jealous of the people who are in. It made a lot of money. I don't get. It doesn't make a lot of sense to me and why bitcoin if you say cryptocurrency generally cage supply-and-demand. If bitcoin is doing that well it will attract other crypto currencies. So i'm gonna sit on the sidelines on this one.
Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan
"Started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care. And reduce costs for workers that their three companies, The Wall Street Journal, says havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more for
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years
"Ventures started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care and reduce costs for workers that their three companies The Wall Street Journal says Havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more
Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan
"Amazon. Berkshire hathaway and j. p. morgan say they're ending their joint. Healthcare venture haven just a few years after its founding. He even was launched with the goal of reducing healthcare costs for employees of those companies. But it showed few signs of impact. A spokeswoman said the companies will continue to collaborate informally in the future haven will cease operations next month.
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years
"New England business. The healthcare venture created by three corporate giants to attack storing care costs will will be be shuttering shuttering only only a a couple couple years years after after launching launching A A statement statement from from Haven Haven says says it it will will end end operations operations at at the the end end of of February. February. The The venture venture was was formed formed a a 2018 2018 by by Amazon, Amazon, JP JP Morgan Morgan Chase Chase in Berkshire Hathaway. The independent company was created to focus on improving care delivered to employees of those businesses while doing a better job managing The
Airline Cards Lose Luster as Coronavirus Persists
"Do either of you have any airline credit cards? Yes, I've gotten American Airlines one doctor. I don't know. Have a Delta one and a blue one, actually, um Question for for both of you, I guess for Mike, So you've got an American Airlines one. Is that a card that prior to this year you used heavily on a regular basis. Know when I had kids, I switched almost all of my spending over to a 5 29 Rewards credit card instead of in airline credit card. I paid the annual fee at this point, mainly because it gets me free checked luggage on any of my American Airlines flights for myself, and I think up to three other passengers, so for me You know, family of five. If we fly one time a year, the credit card he pays for itself in chucked in checked bags, But you've made the selfish decision to prioritize your kid's education over your own travel. Correct, Very selfish. I'm sorry to hear that. You know Honestly, what the reason I ask this is that these these airline credit cards are big money makers in a number of different areas. The first is a lot of people don't realize this, But let's say that you get apart. Let's say you apply for one of these new airline credit cards, and there is a 60,000 mile bonus that goes for the jet blue water for the Delta one. Those miles don't just materialize out of thin air. What we actually end up seeing is that the bank that issues that card whether it's JP Morgan, whether it is Barclays whether it is Bank of America. Whoever is issuing that card pays the airline for those miles in order to generate the bonus. And so these bonuses can be very lucrative for the airlines. Because you know if you will get the cost the average cause if you're looking at the price on these miles Generally, the ballpark is anywhere between one and two cents per miles. That means on a 50,000 mile bonus, the airline that is offering that bonus is picking up anywhere from 500 to $1000 in revenue just by virtue of someone signing up for one of those cards. It's a lot of revenue and they don't have to fly anyone in order to generate it. So they get all this revenue and they don't do anything. It's just okay. Here we go. We've got a potential liability in the future. What they earn. This revenue was Sorry. You don't have as many people signing up for these airline rewards cards and the reason why is look, you just don't have that many people traveling. So why would you sign up for a brand new airline Rewards card? If you're not gonna use it any time soon, and with the potential of devaluations coming for these rewards programs as well. So a couple things there. I would think right now that the airlines are enticing people and maybe offering I actually know that they're offering. You know extra mileage rewards If they devalue those miles on the tail end of this, That's a different story, And I think they might, but I think that some of them are offering additional miles Chuck in your case. Are you paying annual fees on both JetBlue and Delta? The credit card. Yes, I am. Okay. Have you thought about cancer? I mean, you haven't flown at all this year or at least not since pre pandemic. I'm guessing you probably won't fly until May or June of this year. I flown once this year. Actually, no, that's not true. I flown once pre pandemic and once post pandemic s, so it's actually paid for itself even this year, but generally speaking, all fly You know 3 to 5 times a year. Are you able to justify those fees? So I've actually spoken to the issuers and gotten the majority of those fees refunded? Um, just because they get like you just say Look, I'm thinking about canceling this card. I'm not using it, They'll say OK, like either they'll offer you additional points not so much right now because they don't want to be spending the money order to say OK, we'll reduce your waive the fee for the year. But I wanna be able to keep him for the long term because they have things that are attractive based on you know, our travel plans and things like that. So, um the other piece on this is It's not just the airlines that lose out on a little bit of business. You also have the payment network so place you know, cos like a visa or in American Express. If individuals start using debit cards, which they're using Maura of and less credit cards, fewer credit cards. What you end up with is a situation where the interchange fees that normally would be collected on that credit card usage. Those don't end up getting paid out. And so it creates a little bit of a wrinkle then for you know these these issuers now They obviously are able to make that up with the fact that hey, people, you know, are using cash way less this year. And so maybe they're just not using the travel cards as much. But we saw here was that traveling entertainment purchases were down 69% year over year on Amex cards and 70% on Visa cards compared to a year ago for the last quarter, So obviously they're seeing a big change in volume there, then that means you know fewer interchange fees collected for these companies.
PNC to buy US unit of Spain's BBVA bank for $11.6 billion
"PNC Bank is about to become the nation's largest regional bank after agreeing to buy the U. S operations of a lender based in Spain. The price tag here is $11.6 billion Regional lenders have been looking to bulk up is larger rivals like JP Morgan Chase and Bank of America, expand their digital offerings and move in two more states.
Amazon Prime Day kicks off today
"Or master marketing ploy. Amazon Prime Day is underway. We get more from CBS business reporter Jason Brooke 48 hours of discounts of more than one million products and lightning deals for prime members. JP Morgan is predicting that Amazon will reap $7.5 billion from Prime Day. Which would be a more than $2 billion increase from what it did in 2019. Amazon has been the go to shopping site for many Americans during the pandemic, and its stock has reflected that rising 85% since the start of the year. Other
Pandemic's total cost to America: $16 trillion
"19 pandemic will end up costing the U. S $16 trillion.4 times the cost of the great recession economic shutdowns or half the total. The rest is health losses. The curtain rises tomorrow on third quarter earnings is JP Morgan Chase and Citigroup report. Pandemic related loan losses will be front and center. Analysts think the four biggest banks set aside another $10 billion in the third quarter.
Is It Time to Get Bullish on Banks?
"Welcome back to fast money banks catching a bid today in the back of a pair of upgrades, Goldman Sachs and Wells Fargo. But the group is still underperforming the rest of the market this year and it's still about twenty five percent off of twenty twenty highs. Karen actually bought some banks today which ones Karen and why. Well. As you know I am long. Bang. Same Long JP Morgan Citi, Bank Wells Fargo and Bank of America. But I added to GP Morgan today and this is really a trading position. So I had calls and call spreads just expiring October Sixteenth. So I'm really just playing for earnings and I think it's setting up well into earnings because the stocks have traded terribly they've actually been a hedge on my making money on any other parts of the portfolio they kind of hedge that out but I think that expectations are so low now that. The. Bars Low I. think there's a good chance they feed. PHYA fairmount and if they don't, I don't think there's that much more downside here. But I'm just playing really for the short term I. Think this is too low for earnings and it's coming up October thirteenth they think they'll all be that week. You know I know you you saw this Wall Street Journal today Dan but I think that the headline of the essence of the headline really captures the that the bank's Love the markets in twenty twenty but the markets don't love the banks. Yeah I haven't listened. It seemed like an easy trade most of the year to fade every rally in the banks and they're having. been too many dramatic ones. The massively outperformed the broader market here to me. They were showing some relative strength, the beginning of September. But then there are no shortage of headlines I think the banking it goes back to some of the things that we were just talking about the rates where they are go the exposure to. loan-loss defaults and bankruptcies that sort of thing I mean they have a lot of exposure there and I think they're more reflective of main street, then Wall Street, and if you look at the performance from the investment banks who've been benefiting from all from the lower rates and all the stimulus monetary and everything, there's a huge spread there too. So to me, I think you could see Bankamerica back at Twenty I. think you see JP Morgan back in eighty I think you could see Morgan Stanley. Back Forty Bucks I think that they have one more leg lower, but to Karen point that mid October week when all of those banks that make up maybe half the weight of the XL laugh report is there a trade there I just don't know if you start that trade today on September twenty third for October sixteen
Bank stocks knocked as Suspicious Activity Reports come to light
"Bank stocks getting crushed today a new report about the big firms dealing suspicious finds Wilford. Frost Scott the details wealth harmless. So Bank stocks were down sharply today following large declines for their European counterparts, Deutsche Bank for example, closed down nine percent on European trade. Standard Chartered down about five percent both hitting twenty five year lows in London trade earlier US banks ended up down about four percent. This is in part due to investigation by the International Consortium of investigative journalist that highlighted suspicious activity from various banks in the past specifically money laundering following a review of more than two thousand, one hundred reports filed by the US Treasury financial crimes. Enforcement Network a slew. Mentioned including I said HSBC Bank Standard Chartered JP Morgan and Bank of New York Mellon amongst others clearly, this activity is embarrassing for the banks however important to note in the past and that government and regulators were already aware of these details since suspicious activity reports by their very nature all reports between the banks and the government in the first place for example, for example, Deutsche Bank told me this is not new information to us or regulators Today off therefore much more down to the broad cyclical selloff linked to covid economic headlines, and also that Supreme Court news further making a stimulus bill less likely something that banks are disproportionately reliant on compared to some other
JPMorgan workers sent home after some test positive for virus
"JPMorgan Chase, which started re staffing offices after Labor Day had to send some traders home from a Manhattan location after a worker tested positive recovered. 19 JP Morgan has been among the most aggressive of banks in calling workers back and set a deadline of Monday for senior staffers to return. It has not said how this infection will affect that push.
Apple China iPhone sales jump
"New iphones on the way, current iphones appear to be trending up in China. That's the word from the China Academy of Information, and communications technology by way of apple and CIDER. Well by way of JP Morgan analysts Samir Chatterjee by way of Apple. Insider. According to the peace while domestic Chinese manufacturers saw their shipments rise about eighteen percent month over month shipments of smartphones produced by foreign firms and primarily apple. Rose. Fifty six percent over the same period. The Way Chatman season improving shipments of smartphones could calm investor worries over a possible slowdown for apple in China.
"jp morgan" Discussed on CRYPTO 101
"In a wet decisions recommendations being made by bankers daily basis. It's probably the rights prudent in cautionary approach for Jamie. So actually can have reflect about how bitcoin is certainly an asset cloth has some some real developmental problems because it was immaturity. And then at the time, it was purely speculative for many policies in actually was born out to be true in so far is you know, one could argue that were in the reasons that there was a run up on. This was speculation ahead of the launch of the futures on the CBO a so I mean, I think that's the more the reality. I there's a lot of narrative about how you know one. Jamie Dimon has ramped up or suddenly he's been he's he's set barrack speculations on bitcoin. But the same time to be Morgan has been seen to have another bitcoin as well. So the accusation is effectively he's been speaking out of his two sides of his mouth for some kind of prophets related game. To subscribe to that theory. You have to subscribe to the belief that Jamie would be really putting the whole reputation of P Morgan at risk in order to make a quick buck from from profiting in bitcoin, and I think that's November's ever done that. It just it being strange asset costs for him to pick given this as a rounding error on on J P, Morgan PNL mole likely what you have to think about is actually because of a little bit banking rose organizations onto loud to do proprietary trading. The Muth allowed to effectively make trades casino. So it's more likely that a large organization like P Morgan is managing on Hof bits clients, some allocation of bitcoin, probably under a private banking relationship. And it just so happens that there was a cell that was performed on the instruction over climb within the marketplace. I think that's probably a little bit more believable than JP Morgan is out to somehow hijack bitcoin because it's worried about how that's gonna make inroad into its business..
"jp morgan" Discussed on Recode Decode
"When you get to a certain scale, is that we had a working capital issue where we had all these millions of units on order from our channel partners. We had a manufacturing base that needed to build up the supply chain while the components, tooling, all that sort of stuff build out that production capacity supply. But you need cash to do that and it is extremely costly. And you've got a front load a lot of that cash and and giving your startup no manufacturer really wants to give you big credit or anything like that. So we scrambled in early two thousand thirteen to figure out how do we get this working capital cycle figured out. And we did a big debt deal with fortresses Silverlake, JP Morgan and Wells Fargo, and that was part debt, as well as you know, asset base lending. Facility, and it's something that you know, lot of technology companies don't traditionally do that much because you know there aren't that many hardware startups needed the cash. You need the cash, and that's one of the things that happens with a hardware company is you've got to like if you have a successful product, you hit another wall, which is how do you fund all that growth efficiently and equity is not the way to do it. So the thought then was into those thirteen was, let's do this big debt round will pull the whole thing together. It'll get momentum back in. Yes, we had great momentum and we're back ordered, but we actually needed to fulfil it get the revenue machine going, and then we would go pay that debt off. So rest tesla, but go ahead, risk version. I feel for a lot of the scaling issues they have. I mean, obviously it's on a much smaller scale, small product, but it's not that dissimilar in terms of like the fundamental issues that you face. Right. And you're doing new things. So there's new manufacturing processes you wanted? Sure quality, it's it's complicated. So anyway, so we're doing all that. That's thirteen. And the idea was we'd get the momentum back through. The the sort of working capital injection. And then at the end of that, we would do equity raise, which would you know, kind of pay off some of the debt, and then you know, create the the next wave and we, you know, sail off an indoor things. So at the end of two thousand thirteen being in two thousand fourteen winded up doing deal and we had to deals on the table..
"jp morgan" Discussed on Bloomberg Radio New York
"Well i mean jp morgan definitely they they are they're getting more deposits they're making more loans they're trading their helping their clients trade more equities more fixed income dominating the flow trade air dominate their dominating a lot of these areas not just on both sides you know the loans and stuff is is actual real banking commercial banking that we care about and and then the trading side is is the banking that's that's also critical and they're dominating both and this has been very consistent j p morgan quarter after quarter they do better than everyone else it when markets are down and the revenues are down days there's declined smaller than others so they remain managed to remain on top so j p morgan story is is very positive again they're making their net interest income is up ten percent there are always is fifteen they're tangible increase their target yes and they're they're hitting those target i mean they're doing great the return on tangible equity is almost twenty percent those are very impressed commu used to wells fargo in in thirty seconds wells is not doing that great i mean well for one thing they're they have this horrible punishment that that they cannot grow their assets which means they have to shrink some things when they tried to grow anything so their loans are down there net interest interesting come down their net interest margin hasn't changed but that's because they're doing great you know like as interest rates rise they make more money but but they cannot grow which is the most important business for them wiles story had been more loans more deposits just like jp morgan we said but now whilst can't do it because regular is told that they cannot so they're stuck and they cannot make much more money when they grow.
"jp morgan" Discussed on Slate Money
"A massive financial institution city and jp morgan can't make as many can't fund is much of their business with debt they have to be a little safer so your trip essentially what you're doing is you i think i what you're aware i can i can i just cecil this yard eight quite easily because i really feel let you a talking at crosspurposes me out of it that analysts saying to the extend the city and jp morgan are acting as custodians those assets an only those assets should be covered by these new rules and jordan your saying we con apply these these new leverage requirements to the entire affects the city and jp morgan and then you you bowler again byte so effect but what you're doing is your effectively lowering their whole average requirement by taking by taking that cash out of their weights calculated you're you're giving you are allowing them to play with more debt than they can't now that sort of how it work that's how can work out in the end and even if it's act even if like that seems fair because that cash to shouldn't be part of the calculation it still it just if you've act is entered if you've accidentally put stricter limits on j p morgan than you thought you originally needed that's fine by me because the original limits they thought they need to put on these banks during doddfrank frankly didn't seem strict enough i would just say that i do agree with you i think either don't lift these requirements for any any bank whether it's a custody bank or not or lift them for all of them i do think lifting them make the system safer because right now the way the system is set up your.
"jp morgan" Discussed on The Majority Report with Sam Seder
"Now if you think or actually increase their leverage reduce their leverage requirement if you think that city group and jp morgan chase are wildly over capitalised and need to to be unshackle to take on more risk than that's what you're voting for in this bill that that that that citigroup and jp morgan chase should have the opportunity to make their case that they should be able to load up on more wrist uh uh in in the financial system the other piece that uh citigroup there's been lobbying for which they did get is a little more technical but it allows them to use uh municipal bonds to cal as as highly liquid assets in case they do get into trouble uh they could they they can count them under what is called the liquidity coverage ratio and uh that's supposed to be a test of how many liquid asked that you have if you do run into a crisis and these are liquid assets you can write that lost very quickly and easily uh any bonds are very thinly traded difficult to trade them uh and the idea that are liquid assets is very dubious and this also shrimp particularly in particularly in the instance if there is a cynic crime exciting crisis the idea you're going to sell those merely bonds and so the people i understand basically th this is due to the two things that are going on here it's basically like saying um uh you know.
"jp morgan" Discussed on Bloomberg Radio New York
"Of trying luxury automakers are finally figuring out how to appeal to women by not trying too hard that's in our pursuit section but fast we tend to be meg business week editor in chief joe weber to hear about some of his favorite stories in the magazine and you'll let's start in the business section a story that really fascinated came at a couple of weeks ago but it's about a try sector of individuals wellknown individuals warren buffett jeff bezos and also jamie diamond talking about fixing the health steve trevor era biggest guys around and this the details are out this still remain kinda hazy how you know what's going to actually be the solution in healthcare how are they going to try and fix us and they're trying to find a ceos still who can spearhead this initiative between the three companies amazoncom berkshire hathaway and jp morgan so dan interesting and where we try to pick up the narrative is the reaction within that industry because the health care industry is like amazon's out the door this is a big deal now and that's where we picked up no what we were expecting from thouray into the house can we should meet the pontiff at the moment digest tackling this situation with individual companies scale but as you point out what does this mean ultimately fool the individual players hit is the pharmacy benefit manages the middlemen particularly carla and that is all of this is just like this massive cocktail of guess what is happening in healthcare why are you prices keep getting so much higher and consumers feel like they're getting the shortest strove all right and speculation is like there's an middlemen pharmacy benefit managers and that is where there seems to be a focus the this 'triumvirate could bring to bear yes 'cause the big tom i say it's not our problem we not miss pie thing the drawn by a lot of the money he gets creamed by the guys in the middle the insurance that benefit manages he point i feel like when it comes to check pricing it's all like oh my god.
"jp morgan" Discussed on Reveal
"There branch here is part of their private client ran that caters to rich people this is the part of chased that helps clients preserve their wealth that's what their website says you can also get a mortgage or line of credit here air and tries to go up to the fortyseven floor but he can't get past security guards our just suggest you go online to see if you can make it air aaron asked the guards if they'd call the branch manager they said no no glorious now the bank jp morgan chase is not a bank this is not a banker but this location shows up in a federal database of bank branch chase told the ft i see that yes it was a branch but when chase me in a list of branches for the regulators who enforce the community reinvestment act the same building in philly had disappears air stepped outside jp morgan chase on a forty seven four of the skyscraper in its documents to the federal regulators who were supposed to make sure that it serving people in the communities where it's located it's pretending that it's not here the community reinvestment act says banks only have to lend in low income communities if they have a branch in a city that takes deposits and since chases only outpost in philadelphia will take deposits that means the bank doesn't have to lend in low income communities here chase is exploiting a loophole in the law that allows them to avoid scrutiny of regulators so what's the result of that lack of scrutiny we looked at the data and it showed us that jp morgan chase helped seven hundred forty five people by homes in philadelphia over five years but just fifteen of those borrowers were african americans so in philadelphia the biggest bank in america mostly lands to wealthy white people you reach out to jape.
"jp morgan" Discussed on Bloomberg Radio New York
"Is chief investment officer for fixed income at jp morgan asset management hit good morning a treasury yields are down this morning what would a sustained increase in inflation bring and how likely do you think that is it would mean very much higher tricolour yield so an interim target the investor should be focusing on the 3 of five level it's likely we reached out over the next few weeks and then when you look at inflation three hundred t probably now and jewelry at a higher rate because of course the big hit that happened is wage inflation is back and that was the message of course from the latest payroll report what was that good news bad news it's good news i mean they see the inflation because you take a step by permit infestations comeback because uh there's a lot of economic growth economies a healing companies are doing really well they can afford to pay workers so that should be perpetuating uh at least in the store and two said he's watching this uh does that means that they are going to be more aggressive than in central bank tightening oh we need to be more aggressive so the minimum number rate hike should be bowl and it made me want the people to watch them if the acp not swindon really big thing is and when you look at europe the first great hiking price for the middle of next year and of course that with a starting point to minus forty the reality he is the ecp should be raising rates yeah so you're saying these b is way beyond the curve here wade behind the co when you look at the monetary policy acting in newark pat quinn emergency in europe in an emergency category keynote i mean the european growth likely to be two and a half percent so there's a strong case for lifting the policy right from minus forty two still zero i mean not fill low and um i'm not can happen if you are in europe why is it so much confusion no or reticence uh to to do that sort of thing right now is it because this is uncharted territory eight.
"jp morgan" Discussed on LA Talk Radio Channel 1
"The world is yours sweet that's the name of his book world is yours secret to secret very very very interesting information so in this book big brother curtis lee thomas rope he talks about how jp morgan jp morgan chase just that that little banking company you know it is worth your home like hundreds of billions of dollars yeah that just that little that small that small company chase jp morgan chase you may have heard of them you may have an account with them you've definitely done business with them at some point whether you are aware of it or not jp morgan says in an interview he goes i guess the interviewers says there's been some rumors vet you use astrology to help navigate your business decisions in his response was yes i do use astrology and she said well how has that worked for you and we'll know she said something along the lines of like how how do you use the astrology to benefit your business he could have avoided that question earlier avoided the voyage avoided answering the question but his response was like ten times better instead of actually answering her question directly he had an indirect answer any set he said this he says millionaires don't use astrology billionaires do but it's bad right think about the jp morgan chase is talking about over a hundred years ago using astrology using astrology to navigate your business right he says millionaires don't use astrology billionaires do interesting stuff so that means that.
"jp morgan" Discussed on Bloomberg Radio New York
"Kicking off thirdquarter bank earnings the results well they show the effects of muted trading and concerns about consumer credit both firms beat analyst expectations for their bottom lines but they used a different ways to get their jp morgan rely unimproved lending margins while citigroup continue to cut costs let's get the panchiao of bloomberg's banking analyst allison williams the key positive a city groupwise the lower expenses that's gonna initiative at the focus for all of the bank's said jp morgan as sick trading down almost in line with tensions i think that was wellflagged but the key negative rarely was an and the card business and i think that that was right i got people concern in the third quarter the too big banks returned do combined thirteen billion dollars to shareholders and that was more than the earnings that the two banks generated in the quarter jet well bitcoin has breached five thousand dollars for the first time pushing its gain if he is in more than five followed last december the cryptic hearts he traded at less than a thousand dollars since then bitcoin has judged a number of bullets from tightening of regulations in china to a feud that splits underlined block chain it's also been warnings from the likes of jp morgan chase iai jamie and a month ago diamond cold bitcoin a fraud and said he would fire any employee trading at the bank's jeep it but now jp morgan chase seems to be changing its key see marianne look at lake i should say said the bank is very open minded to the potential yeast cases in the future the digital currencies that a properly controlled and regulated brand well bank of japan governor haruhiko kuroda was speaking out in washington today stressing that the central bank's resolve to maintain its ultraloose monetary policy is there earlier we spoke with malcolm scott managing editor for asian economics at bloomberg and he said it came as no surprise of got this global backdrop here where uh the the fate is inching towards normalization were expecting.
"jp morgan" Discussed on The Majority Report with Sam Seder
"Um you said the the the one of the actions that uh schneider is taking this is the guy who bought the two hundred thousand dollars worth of of of loans will guy uh is under the false claims act that is a key tam um some tass marina and i'd say that because we were headed i am headed down to vegas said next week for the by annual uh tort law conference that i go to barry are there other opportunities as you go round with this story uh if i am an enterprising um uh key tam attorney who handles cases like this i'm thinking if there is one liu schneider out there this probably two or ten or fifty right i mean i mean we know from internal reports that there were at least twenty one investors who were treated in this fashion uh i to my knowledge snyder's the only one who has come forward and are actually taken jp morgan chase to task and said you you can't keep doing this uh but there are others out there i mean maybe they went out of business maybe they moved on from this uh but certainly there are other there are other investors who have this perpetrated on and if chase did this um is there any reason to believe that i dunno wells fargo bank of america these other banks are like they're not as uh let me because jp morgan town's he's the gold standard david did you not know that these guys are above reproach these these these are the guys right these are not the guys from the boiler room.
"jp morgan" Discussed on CNBC's Fast Money
"Jp morgan i know is is certainly they have a bitcoin block chain unit there there they had a conference the day he said that in san francisco where they were discussing black chain and so you know let's it he's a break guy and his private the best bankers generations so i'll leave it at that but i think he's going to be wrong with the point all right mike thanks so much for joining ask how come back to fast money sand thanks a lot might never garrelts all right let me thank so here's a takeaway that i get from that obviously great interview but when somebody like mike no regrets comes out of retirement he's a coming out just to do some this job he's he's clearly see something and i think he was pretty clear in his explanation as to what he sees so bitcoin is here to stay or some form of it and branco is obviously done extraordinarily thoughtful work on this i can't speak to the price of bitcoin it's not going away might concern would be what does this decentralised system due to developed market currencies i don't know the answer to that but i gotta believe it has some impact i thought the most interesting thing at this place both in our market we've public markets and where we are with the price of bitcoin that he said rich reward papers crypto which is extraordinary it speaks to maybe where we think we are right now with pricing in the the world's public markets etcetera but that the genie is out of the bottle and that there's no going back to me the way you play this is how you play a lot of these things you don't actually bet on literally the miners in in the big points base but as you might have back in the gold rush days that other people selling the picks in the shovels i think the infrastructure i think the pipes i think the the ecosystem more are on some level more interesting than the coins himself jeannie is definitely out of the bottle look he's an incredible investor the institutional base investor base isn't in the store yet when they get in the story it's another leg higher i'd absolutely bind victory.
"jp morgan" Discussed on WTMA
"The line hillary fine big as he what's on your mind a word about what you guys thought about jamie diamond and what he was saying recently uh jamie damning being the sea of jp morgan bank that's ryan white has been saying about bitcoin and i was wondering if you gaspart maybe he was a little bit scared maybe of the impact that bitcoin has been having on the uh the uh the currency trading fields and if you go i think that i don't know if he's scared i mean i think this is a precursor to fear really that he's just sorta jealous you know i mean here he is the keeper four of the world's reserve currency the us dollar he these guys jp morgan and those folks they have they have a large amount of control over the dollar the federal reserve note is not created by the us government view the united states president does a point the head of the new york federal reserve but the rest of it is just private banks that issue currency win ordered to by the us treasury the meant makes coins coins are us currency whereas you know united states government issued currency i should say rather than us dollars which has issued by the federal reserve so i think is jealous he's the the old matrin at the ball who every and all the the guys want to dance with the ah the young lass who has shown up is he scared you should be but i bet he's not actually at the level of fear and besides jaime diamond and his ilk people like that bank presidents have already milk the united states taxpayer for so much the world's frankly milk the world of so much value they they don't really care when these people have hundreds of millions of dollars you just going to ask yourself what would you do with that kind of money how many private jets do you need how many yachts does one need how many houses do you need just one more i i guess i mean radio it's crazy i can't imagine it i i think that these the you know it's it's time for these dinosaurs to move on and for a better currency to take over one that empowers individuals it starts with empowerment from the ground up rather than the top down yeah i think.
"jp morgan" Discussed on Invest Like the Best
"But when i first came out of school i was i was trained quite broadly in everything problems to cast a calculus to law and i ended up at jp morgan working for the bank itself on there more exotic assets that's where they want to put me and sometimes you know jp morgan's a sprawling enterprise and in the far reaches of that bank sometimes they will end up one way or another with assets that are regulator will look at and say hey look i don't want you owning that whatever that is for example there could be attacks asset an int piece of intellectual property that needs to be crystallized means meaning it needs to be sold to take a loss be jp morgan somehow quieted at a higher basis but needed to get rid of it at a lower basis to crystallise attacks lost that would help out jp morgan on their taxes there's nothing else this assets going to do for them problem is they can't sell it they can't sell it because it contains attacks technology or because it has some kind of intellectual property or provides a signal to strategy in other areas so they can only sell it to one buyer in a confidential transaction that sale which will be an arms length transaction and this has nothing to do jp morgan largest dissolve the world faced similar sorts of problems the price at this buyer will pay will not reflect any kind of activity in the market nor will reflect anything resembling the intrinsic value the acid or the value to jp morgan that buyer will pay some incredibly low price jp morgan will take that price in a oneoff transaction and crystallized loss and it will rebate some of the tax value about us to the buyer.
"jp morgan" Discussed on 1410 WDOV
"Part by jp morgan uh i've been showing thing and trading on since 1980 six and my customers are twofold i cover and so on trade for institutions which means money managers and hedge fund and then also i run a trading dash for private wealth managers who qatar retail investors saw unable to give a little bit of an institutional bent to our private wealth managers have it may not be able to got from a other arms all right it on your side get us a this relationship with ken teleorman applied for platform you wanna talk to that the iggy get the sheriff sure of course hours attracted to can't tell a because they're an independent brokerdealer and what's taken place in the past ten years is that the information curve flattened dramatically in investment business and a lot of that of course the advent of the internet the advent of blogs and more specifically electronic trading network and kanto has to specify fixedincome traders i'm more involved in the institutional business and we have a guy by the name of billy mcevoy who covers the retail wrapped in what we're able to provide is a daily commentary uh we're able to access a bond inventories all over wall street and that's done through different electronic trading network.
"jp morgan" Discussed on LinkedIn's Work in Progress
"I give you a concrete example jp morgan is one of our largest customers echo their jp morgan built a system using our software that analyzed the legal contracts that the jp morgan did with their partners over the last many many years and now they are able to the police for hundred thousands lawyer hours with machines the machines review the contracts they'd be dry the contracts the lawyer on needs coming at the end just to approve the changes which also means you need a lot less lawyers when that happens and implications of that in my mind a lot more significance than us worrying about immigration and hunting tech minds you're there a lot of our decisions like laura changing a sentence in a in a vakhin ends will be automated and we will need to learn to evolve our intellectual ability to solve much highlevel problems and evolve out ability to learn new skills a lawyer might need to learn how to shift to be a doctor and our sounds very hard to do but they will need to have the ability the most important aspect of your life going forward with be you capacity to learn and involve if you don't have that us will have a job but it's not gonna be a very high paying job in that worldview than given that's where the trans are going immigration becomes even more credit call right because if we are already talking about attacked talent crunch here in the us with the current skulls gaps that we're facing in the future they're just gonna be fewer people who are able to adapt in as you say learn so it does not make immigration even more critically also on the percent that's a very good conclusions from it we liked luca are all of our so for having the same intellectual ability but we don't that some people have have much hard iq than other people some people that have much eq that other people accused important for lots of jobs as well emotional cushion uh.
"jp morgan" Discussed on FinTech Insider
"So if you look at the those markets you've got centralized trading venues like exchanges and swap execution facilities multilateral trading facilities where you have a a centralised trust the third party who extracts rent from the liquidity that they're venue provides when that liquidities actually provided by all the participants so people like the jp morgan the goldman sachs and so on there adding value to these venues by trading on them and then they're being charged to trade on the now you look at block chain he look at the total decentralisation the removal of these trust the third parties i think that that's why they are so interested in this technology they're looking at on they're on the other thing is themselves this might allow us to remove a set of middlemen a layer of economic rent from our market from our operations and that i think is where you're going to really see the the most aggressive adoption of of of of this technology like i said there are hurdles one of the key hurdles is that in order for it to work you need to effectively token eyes are digitize the assets that your trading and the dollars or euros or the pounds that using the pay for them but i hear here in the eu we have the electron of money regulations am i suspect that and the us the you know the the federal reserve are looking closely at the stuff that people at consensus the other week and so i i think we're we're we're gonna move it it's not necessarily gonna be overnight but they're certainly a a movements towards that end goal.