“JPMorgan Chase & Co” on The Daily Caller

NEW YORK (CNNMoney) — JPMorgan Chase announced Monday that Ina Drew, the firm’s chief investment officer, has left the bank after revelations of a $2 billion loss sustained over the past six weeks. (more)

Bank stocks were hammered in Britain and the United States on Friday, partly because of fear that a surprise $2 billion trading loss by JPMorgan Chase would lead to tougher regulation of financial institutions. (more)

Commodity Customer Coalition founder James Koutoulas is requesting that MF Global bankruptcy Judge Martin Glenn investigate three potential legal issues that are said to have occurred in transferring of MF Global assets.  The key issues include the fact that JP Morgan was able to purchase MF Global bonds at a discount without any open bidding process and the assets were apparently sold without disclosure to or approval from the U.S. bankruptcy court or trustees.  The third issue centers on JP Morgan seeking special favors from the Federal Reserve to receive priority treatment over investor segregated fund accounts. (more)

NEW YORK (AP) — The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to cushion themselves against financial crises. (more)

PORTLAND, Ore. (AP) — Michael Kors understands what fashion-conscious shoppers desire. Apparently, he knows what investors want, too. (more)

WASHINGTON (AP) — Jon Corzine’s three days of testimony on MF Global’s collapse offered little to satisfy lawmakers or clients who lost millions when the securities firm failed. Yet legal experts say Corzine helped himself by choosing words with care and articulating an explanation that’s hard to disprove. (more)

U.S. stocks rose, sending the Standard & Poor’s 500 Index toward its second day of gains, as better-than-expected earning from JPMorgan Chase & Co. (JPM) and improving data on jobs and retail sales overshadowed concerns America’s credit rating may be downgraded. (more)

The two men now running the White House for President Obama made a lot of money last year, some of it from the same industries they now sit in powerful positions to impact. (more)

The debut of the iPad a year ago was speculated to be the death knell for e-readers like the Kindle. But a new study by JP Morgan reports that the iPad is not actually a Kindle killer. (more)

President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level White House post, possibly as his chief of staff, people familiar with the matter said. (more)

When Randy Persten’s mortgage was foreclosed in 2008, he looked at the paperwork and found a mystery. A company he’d never heard of — called Mortgage Electronic Registration Systems, or MERS — was bringing the foreclosure action against him. (more)

The laws of economics are the new Jim Crow laws. If the Democrats cannot paint their opponents as racist or greedy, then they are pretty much out of solutions for any issue. (more)

Secrecy and greed are polluting the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade system.  Under the RGGI scheme, the smell of profiteering is powerful.  New Jersey and nine other Northeast states have sold $662 million in carbon dioxide permits since 2008. (more)

WASHINGTON—Congress approved a rewrite of rules touching every corner of finance, from ATM cards to Wall Street traders, in the biggest expansion of government power over banking and markets since the Depression. (more)

JPMorgan Chase & Company kicked off earnings season for the nation’s big banks on Thursday with news of a strong gain in second-quarter profit. (more)

JPMorgan Chase was fined £33.32 million, or $49 million, by Britain’s financial regulator Thursday for failing to keep client funds separate from the firm’s money. (more)

A Republican candidate in California is trashing her GOP primary opponent for criticizing government bailouts while, she says, “taxpayers are funding [his] political ambitions.” (more)

Although Greece’s output is just over two percent of the European Union economy, its financial collapse roiled continental markets and required an international bailout package. Imagine what would happen to U.S. markets if California, which is 13 percent of the national economy, experienced a Greek-style implosion. (more)

Financial reform next steps: There have been reports that Democratic leaders are looking to move the financial reform bill, possibly with a vote to end debate as early as Monday, and a vote on the bill itself Tuesday. Late Thursday, it appeared that votes would continue through the night. Amendments will continue to be filed Friday, but no votes are expected. More Senate votes are scheduled for Monday and, “We’ll be in until at least the early part of next week,” according to Banking Committee Chairman Chris Dodd, Connecticut Democrat. Reconciliation of any Senate bill with the December House bill, may progress very differently than it did for health-care bill, where the House simply approved the bill that the Senate passed. In the case of financial reform, the plan may be for a formal “conference,” perhaps televised, with House and Senate leaders and administration officials discussing, debating and making changes. Both the House and Senate must vote again before it can be sent to President Obama. (more)

Editor’s Note: Daily Caller High is a group of young writers cutting their teeth in the world of political punditry. This week, the authors’ reflect on events of the past few weeks. (more)