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A Dimon float and a Diamond for the asking | A scan from all Big Bang developments

Even as new house sales ran up  25% and existing home sales reached a record 5.35 million in the US, a lot of interesting snippets came up on the housing markets from the Big Four.

Jamie Dimon is the head of JP Morgan and ran a nice dashboard for everyone through the crisis, the knowledge of every asset book on his finger tips..he isss having a little hiccup for his own home as comp cuts and profitability find a desired public result. Dimon is a great guy! and Apart frrom us and Big Ritz (Barry ) this is anooother guy you can trust to know the investment and the strategy direction….

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., sliced another $1 million off the asking price of his Chicago mansion.

Going into its fourth year on the market, the Gold Coast neighborhood property is now listed for $9.5 million, according to the Web site of broker Sudler Sotheby’s International Realty. It was previously listed for $10.5 million by Koenig & Strey GMAC Real Estate.

Dimon bought the house at 25 E. Banks St. in 2000 when he headed Chicago-based Bank One Corp. The 15,000 square-foot mansion has eight bedrooms, nine full bathrooms and was built in the late 1800s. Dimon first listed it for sale in April 2007 for $13.5 million.

“It’s a statement home,” said Jim Kinney, vice president of luxury sales for Baird & Warner, a residential brokerage in Chicago. “It represents an attractive value in the neighborhood.”

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., sliced another $1 million off the asking price of his Chicago mansion.

Going into its fourth year on the market, the Gold Coast neighborhood property is now listed for $9.5 million, according to the Web site of broker Sudler Sotheby’s International Realty. It was previously listed for $10.5 million by Koenig & Strey GMAC Real Estate.

Dimon bought the house at 25 E. Banks St. in 2000 when he headed Chicago-based Bank One Corp. The 15,000 square-foot mansion has eight bedrooms, nine full bathrooms and was built in the late 1800s. Dimon first listed it for sale in April 2007 for $13.5 million.

“It’s a statement home,” said Jim Kinney, vice president of luxury sales for Baird & Warner, a residential brokerage in Chicago. “It represents an attractive value in the neighborhood.”

Bob Diamond on the other hand sticks out like a sore thumb on the debt embattled British Isles as head of Barclays and lost Lehman its deal on that fateful September Saturday..

Bob’s Bloomberg press tip says he thinks “Strong Banks want strong regulation” and “We are working very closely and are very close to a new agreement” on the Bipartisan Support challenge for Senate Financial Regulation Bill. Citi thinks Barclays and Lloyds have beaten everyone else out of the UK market(FTAlphaville)

    There has been a profound structural change in the UK banking industry following the credit crunch. As new entrants have disappeared, the six big  lenders have strengthened their grip. They now control 85 per cent of the mortgage market and have regained significant pricing power.

And of course, there’s Obama too:

President Barack Obama challenged the financial industry yesterday to join rather than fight the effort to overhaul market regulations as he sought to close the deal for enactment of his proposals.

Speaking to an audience in New York that included Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., which is being sued by federal regulators over alleged fraud linked to derivatives, Obama said the industry will benefit under stronger oversight, and so will the nation.

“Ultimately, there is no dividing line between Main Street and Wall Street,” Obama said in his speech at Cooper Union, about two miles from the financial district. “We will rise or we will fall together as one nation.”

Obama gave the address as Senate negotiators sought to agree on a compromise that would get legislation encompassing the president’s objectives through Congress.

“Banks will no longer be allowed to own, invest or sponsor hedge funds, private equity funds or proprietary trading operations for their own profit, unrelated to serving their customers.”    (Guardian)

Thanks to Bloomberg, Reuters

Also another cloud of 2008 is coming home to rain on Fed, The Treasury, Capitol Hill and the Congress appointees as Nomura managed to run away with inflated claims against Lehman on some real estate collateral from the looks of it:

The claims by Lehman, filed in federal bankruptcy court in Manhattan, center on thousands of swap contracts the firm entered into with Nomura subsidiaries in London, Tokyo and New York years ago. Lehman’s bankruptcy filing in September 2008 incited termination provisions within the contracts.

But the estate claims that Nomura overinflated what it is owed. Lehman contends that the Japanese bank failed to account for offsetting agreements that largely mitigated the firm’s risk.

“Nomura filed egregious derivative claims against the estate that grossly overstate actual damages,” Daniel Ehrman, the Lehman estate’s co-head of derivatives, said in a statement.

A Nomura spokesman said in a statement, “We disagree with their arguments and fully expect to be paid in due course.”

The filings by Lehman portend the first in a potential series of motions that seek to dismiss similar claims by other banks. The estate has been in talks with other creditors to reach potential settlement of their claims, but it warned that it may still file new actions.

Information

This entry was posted on April 24, 2010 by in Retail Lifestyle, Uncategorized and tagged , , , , .

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