The movie about the fall of Lehman Brothers aired on the BBC last night. The Financial Times' Alphaville blog wasn't the least bit impressed with the "cringeworthingly hilarious" made-for-TV production. The "failed irony, bad acting and moral superiority," along with "overly earnest analogies to the movie Fight Club"…
Jamie Dimon, the CEO of JPMorgan Chase, may be the "accidental media mogul," in the words of Keith Kelly. But it's also fair to say he's done a good job establishing himself as the "accidental beneficiary of fraud," too. According to a finance professor who's been poring over documents in the Bernie Madoff case,…
• Harvey and Bob Weinstein are breathing a sigh of relief today. Quentin Tarantino's Inglourious Basterds did better than expected at the box office this weekend, raking in $37.6 million in sales. Not that one good weekend will be enough to lift the studio out of the financial mess it is in. [NYT, THR, WSJ]
• Related:…
Goldman Sachs has a image problem, as you may have noticed. The firm has been battered by bad press in recent weeks as critics have accused Goldman of having a hand in everything from the destruction of the cookie industry to the spread of nuclear materials to rogue nation-states. (Okay, the firm hasn't been accused…
Big banks have lost hundreds of billions of dollars as the economic downturn has left millions of Americans unable to pay their credit card bills. So that would make this the perfect time to introduce a new card with no spending limits, right? No? Oh, well. It seems Chase is now planning to give American Express a run…
Contrary to what Goldman Sachs mouthpiece Lucas van Pragg told us the other day, it appears Lloyd Blankfein has been celebrating the bank's record quarter after all. Page Six reports today that Blankfein was spotted "celebrating Goldman's boffo earnings" with Assembly Speaker Sheldon Silver at the (kosher)…
Goldman Sachs announced record earnings the day before yesterday. Today it was JPMorgan Chase's turn wow everyone on Wall Street, announcing a $2.7 billion second-quarter profit thanks to "stellar trading and investment banking results." A few months ago, the bank had accepted $25 billion in bailout cash. Now the …
According to Crain's, New York's 100 top-paid executives took home $1.2 billion in compensation last year. And a handful of them, it turns out, are execs who happen to work at banks that received bailouts from Washington: "Number four on the list is Goldman's CEO Lloyd Blankfein, with $42.9 million. Following him is…
Moving to Chicago? Got about $10.5 million to spend on a new house? You're in luck! JPMorgan Chase CEO Jamie Dimon's Gold Coast home—with 26 rooms and 15,700 square feet of space—is now for sale. Dimon hasn't actually lived there since he left Bank One to join JPMorgan Chase in 2004. But clearly he's timed the sale …
You didn't really expect Victoria Gotti to let JPMorgan Chase take her marble palace away from her without a fight, did you? That's not how the Gotti family rolls, as history has shown us on more than one occasion. Gotti appeared in federal court in Brooklyn yesterday and blamed the non-payment of her mortgage on her…
Congrats to JPMorgan Chase chief Jamie Dimon: He's now in possession of what may very well be the tackiest home in New York. A Brooklyn judge has given JPMorgan the go-ahead to foreclose on the Old Westbury home of Victoria Gotti, the gaudy home that the Mob princess has been trying to sell for many months now. It…
• About 10 of the 19 largest banks that have undergone "stress tests" will be notified by Washington that they need to raise more capital. [WSJ, BN]
• JPMorgan Chase chief Jamie Dimon isn't expecting to be one of the 10: He said he thinks "there are still too many banks in the United States," and will happily acquire…
• Who said the good times are over? On the list of the 10 highest-paid CEOs of 2008: Vikram Pandit, Jamie Dimon, Lloyd Blankfein, and Ken Chenault. [AP]
• Bank of America's board continues to stand by CEO Ken Lewis and has no plans to oust him, says "a person familiar with the deliberations." [WSJ]
• Citigroup is…
When we revealed that an agency retained by JPMorgan Chase to collect outstanding debts had resorted to harrassing debtors' kids by posting nasty messages on MySpace, we didn't realize who Jamie Dimon was messing with. Meet Gina Ricobene. She's the daughter of Jim Ricobene, the man suing the bank because Gina found…
• JPMorgan Chase reported a $2.1 billion profit in the first quarter, exceeding estimates. Unlike Goldman, though, Jamie Dimon says the bank hasn't decided whether to return the $25 billion it's received in bailout money. [DB, WSJ, BN]
• General Growth Properties, the second-largest mall operator, filed Chapter 11…
This photo of JPMorgan Chase chief Jamie Dimon holding up his fists ready to throw down? It's not just for show. If Chase loans you money to, say, buy a Mercedes SUV and you don't pay the bank back, Dimon will use any means necessary to insure you follow through. At least that's what a man named James Ricobene…
So how did that little meeting go today in Washington between the president and the CEOs of the nation's largest banks? "It was very encouraging," said Morgan Stanley's John Mack. "We're all in this together," explained Wells Fargo CEO John Stumpf. "Our interests are very much aligned," said Robert Kelly, the chief…
• President Obama will meet with 15 big banking CEOs in Washington today, including Vikram Pandit of Citigroup, Jamie Dimon of JPMorgan Chase, and Lloyd Blankfein of Goldman Sachs. Obama plans to "quiz" them "about developments in the economy and their businesses." Sounds like fun. [CNN]
• Hedge fund managers can…
The Post reported today that JPMorgan Chase, which collected $25 billion in bailout money last fall, has placed orders for two new Gulfstream 650 jets. The total cost? About $119 million. But ABC News reports that in addition to the cost of the planes, the bank is paying another $18 million to build "the premiere…
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