Andrew Feldstein, who bet against JPMorgan Chase & Co. before helping the bank unwind more than $20 billion of trades, has emerged as one of the biggest winners among hedge-fund managers profiting from a flawed strategy.
Early in “Money, Power and Wall Street,” a two-night, four-hour investigation by “Frontline” into the 2008 financial crisis, former JPMorgan Chase & Co.’s investment bank Co-Chief Executive Officer Bill Winters recalls a 1994 staff retreat in Boca Raton, Florida.
A discussion about JPMorgan's estimated two billion dollar loss and the leadership of Jamie Dimon with Gillian Tett of the Financial Times and Steve Rattner former counselor to the Treasury Secretary. TONIGHT on Charlie Rose @ 7p & 10p ET. (Source: Bloomberg)
From July 2004 through April 2007, as credit markets boomed, Goldman Sachs Group Inc. created 23 financial transactions called Abacus, the word for a relatively crude counting tool involving the shuffling of beads.