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BUSINESS
June 19, 2012 | By Jim Puzzanghera
WASHINGTON -- A key financial regulator said the investigation of the more than $2-billion trading loss at JPMorgan Chase & Co. has found the bank apparently has "serious risk management issues" that might go beyond the office responsible for the losses. "We do believe as a preliminary matter that there are apparent serious risk management weaknesses at the bank," Comptroller of the Currency Thomas J. Curry told the House Financial Services Committee on Tuesday. The Office of the Comptroller of the Currency is the main regulator for JPMorgan Chase's banking operations and is "continuing to examine the root causes for those failures and whether there are other weaknesses" outside the firm's chief investment office, which conducted the trades that led to the losses.
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BUSINESS
January 29, 2013 | E. Scott Reckard
With home prices rising, interest rates falling and builders building, some prominent housing advocates are calling for a new kind of loan for buyers with lower incomes or bad credit. They'd like to call it the Dignity Mortgage, but it has another name -- one that's become more of an epithet since the housing crash: subprime. Applicants might include people caught in the early stages of the mortgage meltdown who have since rebuilt their finances, said Faith Bautista, who heads the National Asian American Coalition.
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NEWS
June 21, 1990
Pasadena spends more for risk management than other cities of comparable size, according to an audit prepared by Newport Beach consultants Warren, McVeigh & Griffin Inc. The report, presented at Tuesday's Board of Directors meeting, attributed the higher costs to the diverse services offered by the city, including its own police helicopter fleet, electric power company and independent health clinics. According to the report, Pasadena pays $4.
BUSINESS
October 7, 2012 | By Stuart Pfeifer, Los Angeles Times
With interest rates at near-record lows, these have not been good times for investors looking to generate low-risk income. Money-market accounts are paying an average of 0.5%. (Think about that: A $1-million deposit into an average money-market will yield a whopping $5,000 a year.) Even five-year CDs are yielding just 1.5% on average. So, where's an income-hungry investor to turn? One option is high-yield bonds, which are paying about 6% but carry risk that issuing companies may default, eroding the bonds' value.
CALIFORNIA | LOCAL
October 23, 1996 | KATE FOLMAR
Maneuvering a nonprofit group through the maze of insurance issues is a dicey proposition. Although volunteers give their time out of benevolence, accidents do happen. Sometimes people have car accidents while volunteering. And on occasion, a board member might embezzle money from a charitable group or a volunteer might abuse a nonprofit organization's clients.
BUSINESS
April 5, 2000 | JUAN HOVEY
Get ready to pay more for your business insurance and maybe to find a new insurer, whether you want to or not. For that matter, get ready to make nice with your insurance broker, as you may need help getting through the months ahead. Why? Because for the first time in more than a decade, insurance premiums are going up. If you own a small or mid-size business, this means you may pay higher premiums for your business insurance in the coming months.
NEWS
November 19, 1995 | ANTOINETTE MARTIN, SPECIAL TO THE TIMES
When I was little, my sibs and I had hide-outs where we often spent whole days without glimpsing an adult, which was, come to think of it, the point. * Our favorite place was a pond near an abandoned house in the big apricot orchard at the end of our street. It was private, mysterious--and slightly dangerous. Perfect. Would I let my kids play in there? No way. When my husband was 10, he used to ride the bus through East St. Louis with another boy so they could go to Cardinals games. Alone!
BUSINESS
May 2, 1995
* Bruce Schafer has been named vice president for medical risk management at FHP International Corp., a Fountain Valley health maintenance organization. He was previously senior vice president for claims and risk management for the Washington State Physician's Insurance Assn. * Michele Ryan has joined Tokai Bank of California as regional vice president of its Orange County regional commercial loan center. She will be responsible for all business banking activities in Orange County.
CALIFORNIA | LOCAL
June 18, 1988
John L. Oskins Jr., Orange County's risk management manager and the man who decides whether taxpayers will foot the bill in hundreds of lawsuits filed against the county, will leave next month for a non-government job. Oskins, 44, will join Judicial Arbitration and Mediation Services Inc. as vice president and will set up a new consulting service for public agencies that want to keep their legal expenses down.
CALIFORNIA | LOCAL
April 29, 1993 | WILLSON CUMMER
The city's risk manager, who is credited with saving Fullerton "hundreds of thousands of dollars a year," has resigned to accept another job, officials said Tuesday. Paula Chu Tanguay served the city for six years. She is leaving to head the Alliance of Schools for Cooperative Insurance Programs, an insurance pool based in Downey. Her last day of work is May 14, she said.
ENTERTAINMENT
September 20, 2012 | By Joe Flint
HBO Chairman and Chief Executive Bill Nelson is retiring after almost 30 years with the pay cable behemoth. Richard Plepler, currently a co-president of HBO, has been tapped to succeed Nelson as chief executive. Eric Kessler, another co-president, has been promoted to president and chief operating officer. Michael Lombardo, HBO's president of programming, will also take on additional responsibilities in the corporate restructuring. Nelson, 63, is a very low-profile executive who made a point of steering clear of the media industry's bright lights.
NATIONAL
August 31, 2012 | By Richard Simon
As Isaac made its way into Arkansas on Friday, Gulf Coast communities struggled with high water left by the storm. One couple was found dead inside their flooded Louisiana home. Isaac, now a tropical depression , was expected to drench Arkansas and Missouri with heavy rain Friday, Meghan Evans, an AccuWeather meteorologist, told the Los Angeles Times on Friday morning. Flash flooding was possible, but the rain also arrives at a time when the area has been suffering from a severe drought.
BUSINESS
June 19, 2012 | By Jim Puzzanghera
WASHINGTON -- A key financial regulator said the investigation of the more than $2-billion trading loss at JPMorgan Chase & Co. has found the bank apparently has "serious risk management issues" that might go beyond the office responsible for the losses. "We do believe as a preliminary matter that there are apparent serious risk management weaknesses at the bank," Comptroller of the Currency Thomas J. Curry told the House Financial Services Committee on Tuesday. The Office of the Comptroller of the Currency is the main regulator for JPMorgan Chase's banking operations and is "continuing to examine the root causes for those failures and whether there are other weaknesses" outside the firm's chief investment office, which conducted the trades that led to the losses.
BUSINESS
June 18, 2012 | By Jim Puzzanghera
WASHINGTON - As JPMorgan Chase & Co. Chief Executive Jamie Dimon prepares for another day on the congressional hot seat this week, the U.S. Chamber of Commerce warned lawmakers and regulators not to overreact to the bank's huge trading loss. "Hiding money in a mattress isn't a strategy for a growing, prosperous, economy, but that seems to be the road some want us to go down," Thomas Quaadman, vice president of the U.S. Chamber's Center for Capital Markets Competitiveness, wrote on the business group's blog Monday.
BUSINESS
June 13, 2012 | By Andrew Tangel
WASHINGTON -- The "King of Wall Street" returns to Capitol Hill today, this time to explain how JPMorgan Chase & Co. sustained a $2-billion hole in its "fortress balance sheet. " Jamie Dimon, JPMorgan's chairman and chief executive officer, will face questions from the Senate Banking Committee on how the vaunted bank was stung by risky bets like those that bedeviled its Wall Street peers in the financial crisis. JPMorgan last month disclosed at least $2 billion in losses from risky derivatives trades.
BUSINESS
June 7, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON — The top U.S. bank regulator had no inkling of JPMorgan Chase & Co.'s more than $2-billion trading loss until just weeks before it became public — even though the agency had 65 examiners working full-time at the firm's Manhattan headquarters and other company offices. To some lawmakers, the acknowledgment was another black mark for the Office of the Comptroller of the Currency, which has been criticized for not being more aggressive in its oversight of major financial institutions in the years before the financial crisis.
ENTERTAINMENT
January 12, 2001 | GREG BRAXTON and BRIAN LOWRY, TIMES STAFF WRITERS
Television discovered again this week just how messy "reality" can be, as controversy swirled around "Temptation Island," the unscripted Fox show that premiered Wednesday night. Yet the persistence of such embarrassments seems unlikely to stem the tide of prime-time reality series, whose potential to attract vast audiences at a lower price than that of scripted dramas or comedies is creating its own irresistible lure for programmers.
CALIFORNIA | LOCAL
July 13, 1993 | SCOTT HARRIS
It was a another hot day in the Valley, so my buddies Pete, Kyle and Ben decided to go swimming. Or at least Pete and Kyle wanted to go. Pete is the dad here, and the 5 1/2-year-old Kylemeister isn't shy about expressing himself. They assumed that The Benster--he'll turn 2 next month--would be happy splashing around with the big guys. Mom, as it happened, was scheduled to work that Saturday.
BUSINESS
June 6, 2012 | By Jim Puzzanghera
WASHINGTON -- Federal banking regulators have been meeting daily with JPMorgan Chase & Co. executives to reduce the risks in the trading portfolio that led to the loss of more than $2 billion and are conducting a broader inquiry into risk management at the nation's largest bank. "We are not limiting our inquiry to the particular transactions at issue. We are assessing the adequacy of risk management throughout the bank," Thomas J. Curry, head of the Office of the Comptroller of the Currency, told the Senate Banking Committee on Wednesday.
HEALTH
November 11, 2011 | By Shari Roan, Los Angeles Times
As Americans — including even young children — continue to get fatter, their risk for heart disease is climbing too. So a panel of experts now is recommending that all kids have their cholesterol checked at least once between ages 9 and 11 and again between 17 and 21. Although children typically don't have heart attacks and strokes, evidence has been mounting for years that the roots of those diseases begin early in life, and the rising rates...
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