News

A wave of legal and regulatory woes wrecked JPMorgan’s third-quarter results, pushing the bank into something it managed to avoid throughout the financial crisis, a quarterly loss.

The City Diary: The Midas – or Maddison – touch

Slackbelly exposes The good, the bad and the ugly of the square mile

The day the King of Bears saw his house fall down

Former boss of Bear Stearns blames market rumours for the collapse of the US investment bank in 2008

Think oblique: How our goals are best reached indirectly

In business, in mountaineering and even in the pursuit of happiness, the most direct route isn't always best. Economist John Kay makes the case for obliquity

Stephen Foley: Panicky new rules that miss the point

US Outlook: Forcing derivatives trading on to exchanges will bring transparency and cut counter-party risk

Joss Garman: Climate change deniers cost the earth

Hardliners around the English-speaking world who ignore the evidence for global warming will pay a heavy political price

Bear Stearns fund managers found not guilty

In a huge setback for government prosecutors, a jury in New York City last night acquitted two former hedge-fund managers with Bear Stearns of lying to clients about the safety of their money even when they themselves allegedly saw disaster around the corner because of the imploding sub-prime mortgage market.

Business Diary: Former Bear boss busts out at poker

It seems that Steven Begleiter is rather better at casinos than he was at casino capitalism. The former Bear Stearns head of corporate strategy came within an ace (literally) of a shot at the $22m first prize of the World Series of Poker in Las Vegas.

Jury ponders fate of Bear Stearns duo in first credit crunch trial

Managers accused of fraud over collapse of hedge funds that heralded meltdown

Growth figures dash hopes of Britain coming out of recession

Across Europe, the recovery is under way. But we are stuck in the longest downturn since 1945. Sean O'Grady explains why

Bear Stearns pair were 'trying to do their best,' court told

The Bear Stearns hedge fund managers accused of defrauding investors are innocent of the charges, a defence lawyer told a New York jury, because "no one can lie about the future".

The e-mails: 'I've washed a 30-year career down the drain'

According to the indictment against them, Ralph Cioffi and Matthew Tannin, with others, "agreed to make misrepresentations [about the health of their funds] in the ultimately futile hope that the funds' bleak prospects would change". The core of the evidence against them is contained in emails, diary entries and recordings of conference calls.

The people vs Wall Street

Bear Stearns bankers on trial in first criminal case of the credit crunch

Emails hold key to trial of Bear Stearns' former fund managers

Wall Street financiers to face jury over alleged securities and wire fraud

Stephen Foley: Years of court cases ahead for Wall Street

US Outlook: The sub-prime mortgage market is "toast". My mortgage company's products are "poison". The derivatives we've just offloaded to a client are "vomit". These are from internal emails across Wall Street as the credit market boom began to turn to bust (from Bear Stearns, Countrywide and UBS, respectively), and they have turned up in the first court cases in what looks set to be years of litigation and prosecutions.

Executive Excesses: In another world

The executive excesses uncovered by the end of the long boom initially incited just employee and shareholder anger. They have now given rise to public fury. Stephen Foley reports
Latest stories from i100
SPONSORED FEATURES
Career Services

Day In a Page

A
Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
Minoan Crete and Santorini
Prices correct as of 15 May 2015
Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones
Theme parks continue to draw in thrill-seekers despite the risks - so why are we so addicted?

Why are we addicted to theme parks?

Now that Banksy has unveiled his own dystopian version, Christopher Beanland considers the ups and downs of our endless quest for amusement
Tourism in Iran: The country will soon be opening up again after years of isolation

Iran is opening up again to tourists

After years of isolation, Iran is reopening its embassies abroad. Soon, there'll be the chance for the adventurous to holiday there