U.S. Senator Jeff Merkley, the Oregon Democrat pushing for tighter restrictions on banks’ bets with their own money through so-called proprietary trading, said JPMorgan Chase & Co. took too much risk through a strategy the company described as hedging.
The U.S. Treasury Department and members of Congress are preparing to move forward with plans to expand government-backed refinancing programs to underwater homeowners whose loans are packaged in private-label securities.
JPMorgan Chase & Co. trader Bruno Iksil’s outsized bets in credit derivatives are drawing attention to a little-known division that invests the company’s reserves and fueling a debate over whether banks are taking excessive risks with federally insured and subsidized money.
President Barack Obama’s one-year reprieve for Americans losing health insurance achieved at least one political aim: to slow a Democratic rush toward a bill to curtail Obamacare coming to a vote today in the House.