Shares in Chinese banks plunged after Goldman Sachs downgraded some ratings due to high local government debt. According to a July 11 Bloomberg report, shares in China’s banking sector are on the cusp of historically low valuations. Bloomberg Intelligence’s index of Chinese bank stocks is down 14 percent from this year’s high in May, wiping…
Chinese Banks’ Ratings Downgraded as Local Governments Struggle With Debt
July 13, 2023
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JPMorgan CEO Proposes Solution to the Ongoing Banking Crisis
Jamie Dimon, the CEO of JPMorgan Chase & Co., proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules,…
JPMorgan CEO Proposes Solution to Ongoing Banking Crisis
Jamie Dimon, the CEO of JPMorgan Chase & Co., proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules,…
Regulators Will Need to Intervene in Banking Crisis, JPMorgan CEO Says
JPMorgan Chase CEO Jamie Dimon has proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules, and more requirements,’’…
Jes Staley Asks Court to Dismiss JPMorgan Lawsuit Linked With Epstein
Former JPMorgan Chase executive Jes Staley has asked a U.S. court to dismiss a lawsuit filed against him by the bank that sought to hold him responsible for liabilities arising from Jeffrey Epstein’s sex-trafficking operations. JPMorgan wants Staley to forfeit eight years of his compensation as well as cover the bank’s losses in two lawsuits…
Government Should Seize Property to Build Wind and Solar Farms: JP Morgan Chief
April 6, 2023
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JP Morgan Chase & Co. CEO claimed that governments may need to seize private property for the creation of more green and conventional energy production sites, according to a letter to shareholders published this week. JP Morgan CEO and former head of the Federal Reserve Bank of New York Jamie Dimon wrote an extensive letter…
JP Morgan Agrees to Help Ukraine Attract Private Investments to Rebuild Infrastructure
Ukrainian president Volodymyr Zelensky met with senior members of JP Morgan in Kyiv on Feb. 11 after the two parties signed a “memorandum of understanding” to attract private investments to aid in the reconstruction of the war-torn nation. Zelensky also appeared via video link in “one of the largest annual investment summits organized by JP Morgan,” which…
‘Carry Water for Beijing’: Rubio Sounds Alarm on JP Morgan’s Partnership With TikTok’s Chinese Owner
January 11, 2023
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Sen. Marco Rubio (R-Fla.) has raised “strong concern” over banking giant JP Morgan Chase’s decision to partner with China-based ByteDance to develop its next-generation payment systems. ByteDance is the parent company of social media giant TikTok, and has drawn heightened scrutiny over its ties with the Chinese Communist Party (CCP), which rules China as a…
Women Accusing Jeffrey Epstein of Abuse Sue Deutsche Bank, JPMorgan Chase
November 24, 2022
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Women who accused convicted pedophile Jeffrey Epstein of sexual abuse have filed two separate lawsuits against JPMorgan Chase & Co. and Deutsche Bank AG, alleging that the banks facilitated his sex trafficking operation by maintaining a financial relationship with Epstein and ignoring red flags. The two lawsuits, filed in federal court in New York on…
JPMorgan President Says ‘Deeper Recession’ Is Acceptable Price for Taming Inflation
The president of the world’s largest investment bank says that a “deeper recession” is an acceptable price for taming high inflation. Daniel Pinto, president and chief operating officer at JPMorgan, told CNBC in a recent interview that he supports the Federal Reserve’s aggressive interest rate hikes. “I think putting inflation back in a box is…
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