Written by administrator on May 22nd, 2012
JPMorgan Veered From Hedging Practices at Competing Banks
News from Bloomberg:
JPMorgan Chase & Co. (JPM)’s biggest U.S. competitors say their corporate investment offices avoid the use of derivatives that led to the bank’s $ 2 billion loss and buy fewer bonds exposed to credit risk.
Bank of America Corp., Citigroup Inc. (C) and Wells Fargo & Co. say the offices don’t trade credit-default swaps on indexes linked to the health of companies. JPMorgan is said to have amassed positions in suc…………… continues on Bloomberg
Corona arrives at Senate
News from Inquirer.net:
By Jamie Marie Elona, Karen Boncocan, Maila Ager
1:41 pm | Tuesday, May 22nd, 2012
MANILA, Philippines–Embattled Chief Justice Renato Corona arrived at the Senate in Pasay City to take the witness stand before the impeachment court on Tuesday.
This is the first time that no less than Corona, the respondent himself, will appear and testify in the trial.
Day 40 of the trial will start at around 2:00 in the afternoon.
Accompanied by his supporters all the way from the Supreme Court of the Philippines, Corona’s convoy arrived around 1:20 p.m., accompanied by his supporters who staged a protest caravan from their office in Padre Faura, Ermita, Manila.
His supporters, the Judiciary Cycle Club of Supreme Court, along with another motorcycle group, accompanied Corona carrying small…………… continues on Inquirer.net