On the 29th April 2009, at approximately 6pm, The Bank of America removed Kenneth D. Lewis as Chairman, and appointed Walter E. Massey as Chairman. While Lewis kept the title of President and Chief Executive, the person who once replaced Hugh McColl in 2001 was on the way out. By September 2009, Lewis had announced […]
Hugh’s Dreams Crumble Read More »
The Justice Department has just revealed documents that suggest JPMorgan Chase, Wall Street’s largest bank, has been employing the children of China’s ruling elite to gain business opportunities from Chinese state-run companies. An email from one JP Morgan executive reads, “You all know I have always been a big believer of the Sons and Daughters
JP Morgan Chase, the FCPA and Corruption of America Read More »
J.P. Morgan Chase & Co., the largest bank in the United States, has announced a loss of $2 billion in trades over the past six weeks, with the potential for an additional $1 billion in losses due to overly risky bets. Chief Executive Jamie Dimon has attributed the losses to “many errors, ‘sloppiness’ and ‘bad
