Caught up in the Libor scandal, the star investment banker and American CEO of the British bank was forced to resign. His departure represents the end of an era for big banks.
FORTUNE -- By the time the call came, Bob Diamond knew his tenure as CEO of Barclays was at an end. It was 9:30 p.m. on Monday, July 2, and Diamond had just gotten home from the office when MOREShawn Tully, senior editor-at-large - Jul 30, 2012 5:00 AM ET
The former king of Wall Street is still struggling.
FORTUNE -- It's still hard out there for an I-banker.
Starting tomorrow banks will begin to tell investors how they did in the second three months of 2012. Overall, the indications are that the quarter will be a disappointment. But, surprisingly, Goldman Sachs (GS) may emerge as the biggest loser. Expectations for the once-vaunted investment bank have fallen more than rivals.
In the past MOREStephen Gandel, senior editor - Jul 12, 2012 12:49 PM ET
Critics of our analysis say Uncle Sam should have let the free markets take care of business. They tried. And they failed.
FORTUNE -- My last column, looking at five myths and misconceptions that have emerged since the financial crisis first surfaced five years ago, clearly hit a nerve. It elicited more than 500 online comments, an unusually large response. Most commenters were critical of what I wrote, which is par MOREAllan Sloan, senior editor-at-large - Jul 5, 2012 5:00 AM ET
By Larry Doyle, contributor
The earthquake that rocked Wall Street and the global financial markets in 2008 continues to reverberate today. Just ask Bob Diamond, CEO of Barclays (BCS)... or I should say, the former CEO of Barclays.
Diamond, the once high-flying American banker, was dethroned overnight as the chief executive of the UK-based bank as public pressure and outrage grows over the Libor price-fixing scandal. Do not think for a second MOREJul 3, 2012 11:37 AM ET
Five years after the U.S. economy teetered on collapse, here are five reasons why we need to stop pointing fingers and fix the problems that nearly sank us.
FORTUNE -- It's hard to believe, but it's been five years and a day since the U.S. financial system's problems surfaced, and we're still not even remotely close to being able to feel good about the economy. My admittedly arbitrary start date is MOREAllan Sloan, senior editor-at-large - Jun 13, 2012 5:00 AM ET
By Shelley Hurley, contributor
Rogue traders are rare but can be extremely dangerous. They can cause major losses, despite the fact that financial and commodity trading firms are generally extremely sophisticated in their use of information technology and analytics. Companies facing immense pressure to generate revenue, however, do not always implement the risk-aware culture and implement the capabilities needed to support their trading and risk management operations.
Rogue trading reflects a breakdown MOREJun 6, 2012 10:38 AM ET
A number of funds run by former JPMorgan employees are cashing in, but not much.
FORTUNE -- Is Dodd-Frank, the law that is supposed to make the banks less risky, actually to blame for JPMorgan's huge trading loss?
Earlier this year, Neil Chriss, who runs hedge fund Hutchin Hill, said in a Bloomberg interview that he was looking to profit by buying up positions that the large banks might be forced to MOREStephen Gandel, senior editor - May 16, 2012 7:05 AM ET
Preparing to host the Democratic convention, the nation's other financial hub looks beyond its wounded institutions.
By Ken Otterbourg, contributor
FORTUNE -- Charlotte is a corporate town. Counting its suburbs, it's still home to eight Fortune 500 companies, thank you very much. It's still very much the country's other banking center. But to make sense of what's happened here in the past four years -- the bust, the bottom, and what MOREMay 15, 2012 5:00 AM ET
Sure, blame JP Morgan's traders. But don't forget what motivated them to take on extra risk -- the Federal Reserve's low interest rate policy has left banks scrambling to make up for lost income on loans.
By Cyrus Sanati
FORTUNE -- Who is to blame for JP Morgan's growing multi-billion dollar trading loss? While it is easy to just fire and demonize the traders and managers who executed the trades, as MOREMay 14, 2012 10:52 AM ET
The bank's bad bet could curtail profits for years to come.
Update May 13, 11:00 PM
FORTUNE -- For years, JPMorgan Chase (JPM), perhaps the riskiest bank in the world, got a pass. Sure there were minor hiccups along the way. But basically investors had the attitude with the bank run by Jamie Dimon that they were going to be hands off. Sub-prime mortgage loans: You've proved you can handle them. Foreclosure MOREStephen Gandel, senior editor - May 11, 2012 2:02 PM ET
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