The most intriguing take on Friday's management shakeup at JPMorgan, which saw Matthew Zames and Frank Bisignano named co-chief operating officers, came from the Financial Times' Tom Braithwaite, who wrote that they look to be part of a short list of possible successors.
Irvin Goldman, who oversaw risks at JPMorgan until those risks led to a $2 billion $5.8 billion loss in May, has officially left the firm, all this on a big news day (Friday the 13, indeed) for the bank.
JP Morgan Chase announced its second-quarter earnings today, but also admitted its first-quarter statements were completely wrong, because some of their employees were deliberately trying to hide their losses.
An embarrassing and costly trade that got JPMorgan CEO Jamie Dimon called before Congress, may actually cost the bank four times more dollars than originally thought.
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