Category: Bloomberg

Fed Watchdog Criticizes Scrutiny of JPMorgan London Whale

October 21st, 2014 in 2014, Bloomberg, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Bloomberg
Mark Williams, School of Management

The Federal Reserve Bank of New York botched oversight of the JPMorgan Chase & Co. office that suffered $6.2 billion in trading losses attributed to the so-called London Whale, a watchdog report showed…

Expert quote:

“The report is disturbing in that it reveals that the Fed, the nation’s most powerful regulator, failed to follow up on identified risks that later cost JPMorgan and its shareholders over $6 billion. Risk identification without follow up is the equivalent of a fireman seeing a fire but not acting on it.”

View full article

Did Bank Rules Kill Liquidity? Volcker, Frank Respond

October 20th, 2014 in 2014, Bloomberg, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Bloomberg
Mark Williams, School of Management

Last week’s market gyrations sparked questions about whether bank regulations implemented after the 2008 financial crisis exacerbated price declines by limiting the ability of Wall Street banks to make markets…

View full article referencing expert Mark Williams

Ebola Outbreak Boosts Odds of Mutation Helping It Spread

October 15th, 2014 in 2014, Bloomberg, Ebola, NEIDL, Newsmakers, Ronald Corley, School of Medicine 0 comments

Ron-Corley-300x300Bloomberg
Ronald Corley, School of Medicine, NEIDL

The Ebola virus circulating in West Africa is already different from previous strains…

Expert quote:

“I’m seeing all these reports about changing virulence and mode of transmission. I just don’t see how that would work from a fundamental scientific perspective.”

View full article

In NFL Probe, Even FBI Chiefs Risk ‘Motivated Blindness’

September 24th, 2014 in 2014, Bloomberg, James Post, Newsmakers, School of Management 0 comments

PostJames (1)Bloomberg
James Post, School of Management

It’s becoming a time-worn script. Company gets in trouble. Public gets upset. Company hires former head of three-letter agency or former prosecutor to get to the bottom of said trouble in thick report. Public forgives…

Expert quote:

“These cases have become full-employment pools for former FBI officials. The pattern has become familiar. There’s getting to be a kind of public fatigue as we’ve seen this play run out again and again.”

View full article

Brazil Suffers Slow Growth With Lula China Policy Sowing Doubts

September 22nd, 2014 in 2014, Bloomberg, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherBloomberg
Kevin Gallagher, College of Arts & Sciences

In 2004, Brazil’s then-President Luiz Inacio Lula da Silva and 400 executives went on a six-day trip to China. The mission was simple: Encourage companies to strengthen ties with the Asian nation to bolster growth at home…

Expert quote:

“Brazil put too many eggs in the China basket. They needed to seize the moment when there was high demand and high prices and save some of those windfall profits for rainy days, which is what we have now — it’s pouring.”

View full article

How to Procrastinate Better

September 4th, 2014 in 2014, Bloomberg, Keith M. Marzilli Ericson, Newsmakers, School of Management 0 comments

EricsonKeithBloomberg
Keith M. Marzilli Ericson, School of Management

We’ll never get around to figuring out exactly how much procrastination costs Americans. But a new study gives us an idea. When interest rates plunged in the wake of the financial crisis, a fifth of those eligible to refinance their mortgages didn’t act. That cost them a median of $11,500, or a total of about $5.4 billion

Expert quote:

“People are putting things off that they want to do.”

View full article

6 Reasons Samsung Should Fear the iPhone 6

September 3rd, 2014 in 2014, Bloomberg, College of Communication, Edward Boches, Newsmakers 0 comments

edwardbochesBloomberg
Edward Boches, College of Communication

The last few years will likely go down as a golden age for Samsung Electronics. While Apple defined the modern smart phone with its iPhone in 2007, Samsung has been growing far more rapidly…

View full article quoting expert Edward Boches

JPMorgan Operating Risk Rises With Past Seen as Prologue

September 2nd, 2014 in 2014, Bloomberg, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Bloomberg
Mark Williams, School of Management

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon has pledged billions of dollars to improve compliance and cybersecurity. That’s not stopping regulators from treating the bank as if it were riskier than ever…

Expert quote:

“It’s a kind of penalty — if you’re the biggest bank in the land, you’ll have the largest operational risk. Regulators are using a rearview-mirror approach and have failed to take into account the banks’ learning curve. Just because you have a risk doesn’t mean you’ll have a loss.”

View full article

Citigroup Fined $1.85 Million by Finra for Trading Lapses

August 26th, 2014 in 2014, Bloomberg, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Bloomberg
Mark Williams, School of Management

Citigroup Inc. (C) will pay a $1.85 million fine and return more than $638,000 to customers after its securities unit failed to get the best prices for clients in about 22,000 trades over more than three years, the Financial Industry Regulatory Authority said today…

Expert quote:

“The findings are disturbing. You would expect a sophisticated shop like Citi to get the pricing correct. It means there continues to be a weak control environment at Citi, which is concerning.”

View full article

Researchers Race to Develop Field Tests to Confirm Ebola

August 18th, 2014 in 2014, Bloomberg, Ebola, John Connor, NEIDL, Newsmakers, School of Medicine 0 comments

Connor-150x150Bloomberg
John Connor, School of Medicine, NEIDL

It took three days recently for a New York City hospital to determine that a patient with Ebola-like symptoms didn’t have the deadly virus…

Expert quote:

“We now have the basic architecture to build the devices to test. We’re working as fast as we can to make it a reality.”

View full article