Bankers fear good times for bad debt might come to an end in 2013.
FORTUNE -- Wall Street's profits have never been so pumped up by junk.
At a time when most of Wall Street's lucrative businesses -- mergers and acquisitions, initial public offerings -- seem stuck in first gear, sales of high-yield debt have taken off. Worldwide, corporations, municipalities and other issuers sold $420 billion in so-called junk bonds in 2012. MOREStephen Gandel, senior editor - Jan 2, 2013 7:00 AM ET
As the financial system melted down in the fall of 2008, the Treasury Department gave the nation's biggest banks billions in new capital. Was it all necessary? No, says the former FDIC chief in her new book.
By Sheila Bair, contributor
FORTUNE -- Few players had as close a view of the financial crisis as Sheila Bair, chairman of the Federal Deposit Insurance Corp. from June 2006 to July 2011. In MORESep 20, 2012 5:00 AM ET
When it comes to regulatory reform, the bank chief says he's moving on, but it's not clear he's there yet.
FORTUNE -- Jamie Dimon says there is no need to continue to complain about increasing bank regulations. But that won't stop the CEO of JPMorgan Chase (JPM) from doing just that.
Speaking at the Barclay's 2012 Global Financial Conference, Dimon added bank stress tests to his growing list of measures implemented by MOREStephen Gandel, senior editor - Sep 12, 2012 2:10 PM ET
Weill may be right about the need to break up the banks, but bigger profits are not the reason.
FORTUNE -- Would JPMorgan and Chase really be more profitable if they parted ways?
Sandy Weill seems to think so. When the man who spent the 1990s building the behemoth Citigroup (C) went on CNBC to argue that the big banks should now be split up, Weill said it would not only be MOREStephen Gandel, senior editor - Jul 26, 2012 2:55 PM ET
A mixture of accounting moves and rosy assumptions appear to have masked JPMorgan's London Whale.
FORTUNE -- Here is perhaps the most amazing thing about JPMorgan Chase's (JPM) $5.8 billion trading loss: Take a look at the firm's overall results, and it's like the London Whale's misstep, one of the largest flubs in the history of Wall Street, never happened.
Back in mid-April, about two weeks before talk of the trading losses MOREStephen Gandel, senior editor - Jul 13, 2012 1:08 PM ET
The ratings changes might further consolidate Wall Street's riskiest business into the hands of JPMorgan and Goldman.
Fortune -- There's plenty of irony in the Moody's downgrade of big U.S. banks. But here's the biggest one: The lower ratings, which acknowledge that banks aren't as safe as we thought they were, might actually make the banks riskier.
In one sense, the downgrades will do something that regulations have yet to accomplish. They'll MOREStephen Gandel, senior editor - Jun 22, 2012 12:27 PM ET
JPMorgan has a lot of leeway when reporting its recent trading losses.
Fortune -- JPMorgan Chase (JPM) could be headed for the tub. Some are wondering if the bank could take a so-called big bath - an accounting term for exaggerating losses in order to benefit later - on the London Whale's trading red ink.
Jamie Dimon is testifying in front of Congress again on Tuesday, this time for the House Financial MOREStephen Gandel, senior editor - Jun 19, 2012 10:52 AM ET
JPMorgan Chase's London Whale should finally sink the notion that the market for bond insurance works.
Fortune -- In finance, there should be a three-strikes-and-you're-out rule. If there were, credit default swaps would be headed for the graveyard.
Indeed, when JPMorgan Chase (JPM) announced its $2 billion and counting trading loss a month ago, there seemed to be little explanation of what exactly credit default swaps, the financial contracts the London Whale MOREStephen Gandel, senior editor - Jun 18, 2012 4:59 PM ET
JPMorgan Chase's CEO says his bank's hedges are safe.
Fortune -- In banking, it appears, the model is always risk on.
In Congressional testimony on Wednesday JPMorgan Chase's CEO Jamie Dimon spent a lot of time trying to prove to members of the Senate Banking Committee that the bulk of what his bank does - London Whale aside - is prudent. He said he believes in stress testing. And that he has MOREStephen Gandel, senior editor - Jun 13, 2012 3:45 PM ET
JPMorgan diverted more of its cash into "hedges" at a time when the bank was doing less and less lending.
Fortune -- It's time for Jamie Dimon to give up the hedging excuse. No one is going to believe it for much longer.
On Wednesday, Dimon, CEO of JPMorgan Chase (JPM), will testify in front of the Senate Banking Committee. It's Dimon's first trip to Capitol Hill - he's scheduled to return MOREStephen Gandel, senior editor - Jun 13, 2012 6:00 AM ET
|Apple set for showdown on Capitol Hill over corporate taxes|
|The biggest merger you didn't hear about today|
|Yahoo rolls out update to make Flickr 'awesome again'|
|Yahoo buys Tumblr, promises to not 'screw it up'|
|Tesla's fight with America's car dealers|