US chief executives are beginning to wean themselves from their perplexing attachment to the role of chairman. But at a few large banks, the addiction persists. Read more
The very recent history of Wall Street abuses
In a sense, the complaint brought against JPMorgan Chase for bad behaviour in the mortgage market is history. It concerns Bear Stearns, the ill-fated investment bank acquired by JPMorgan in spring 2008 as the financial crisis broke out.
But the suit from Eric Schneiderman, the New York attorney-general, which is part of a broader regulatory initiative to crack down belatedly on mortgage securitisation abuses, is still a fascinating portrayal of how bad things got. Read more
London calling with credit derivatives losses
London is acquiring a dangerous reputation for US financial institutions.
The financial crisis in 2008 was set off by the London-based derivatives unit of American International Group, which was insuring potential losses for banks. Now, JP Morgan Chase finds itself in trouble over a $2bn hedging/trading loss in London. Read more
| About this blog | Blog guide |
John Gapper is an associate editor and the chief business commentator of the FT.
He has worked for the FT since 1987, covering labour relations, banking and the media. He is co-author, with Nicholas Denton, of 'All That Glitters', an account of the collapse of Barings in 1995.
Andrew Hill is an associate editor and the management editor of the FT. He is a former City editor, financial editor, comment and analysis editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan.
Latest columns by John and Andrew