Via BusinessWire: “Fitch Ratings has downgraded JPMorgan Chase & Co.’s (JPM) Long-term Issuer Default Rating (IDR) to ‘A+’ from ‘AA-‘ and its Short-term IDR to ‘F1’ from ‘F1+’. Fitch has placed all parent and subsidiary long-term ratings on Rating Watch Negative. Fitch has also downgraded JPM’s viability rating (VR) to ‘a+’ from ‘aa-‘ and placed it on Rating Watch Negative. In addition, Fitch affirmed JPM’s ‘1’ support rating and ‘A’ support rating floor. A full list of rating actions follows at the end of this release. The rating actions follow JPM’s disclosure [May 10, 2012] of a $2 billion trading loss on its synthetic credit positions in its Chief Investment Office (CIO). The positions were intended to hedge JPM’s overall credit exposure, particularly during periods of credit stress. Fitch views the size of loss as manageable. That said, the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity. It also raises questions regarding JPM’s risk appetite, risk management framework, practices and oversight; all key credit factors. Fitch believes the potential reputational risk and risk governance issues raised at JPM are no longer consistent with an ‘AA-‘ rating.”
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Daily Archives: May 13, 2012
The Nations Report Card: Science 2011
“This report presents results of the 2011 National Assessment of Educational Progress (NAEP) in science at grade 8. National results are based on representative samples of public and private school students from all 50 states, the District of Columbia, and Department of Defense schools. State results are reported separately for public-school students from these states… Continue Reading
Policy Analysis – Questioning Homeownership as a Public Policy Goal
Questioning Homeownership as a Public Policy Goal by Morris A. Davis “For decades U.S. housing policy has focused on promoting homeownership. In this study, I show that the set of policies designed to further homeownership has been ineffective and expensive and that homeownership as a public policy goal is not well supported. I document that… Continue Reading
Free Online Data Journalism Handbook
“The Data Journalism Handbook (Beta) is an initiative of the European Journalism Centre and the Open Knowledge Foundation. It is published by O’Reilly Media and freely available online under a Creative Commons Attribution-ShareAlike license.” Data Journalism Handbook Infographic Continue Reading
EPA Updates Clean Air Act Requirements for Gas Stations to Reflect New Vehicle Technologies
News release: “The U.S. Environmental Protection Agency (EPA) has determined that the systems used at gas station pumps to capture harmful gasoline vapors while refueling cars can be phased out. Modern vehicles are equipped to capture those emissions. This final rule is part of the Obama Administrations initiative to ensure that regulations protect public health… Continue Reading
Situated Justice: A Contextual Analysis of Fairness and Inequality in Employment Discrimination Litigation
Situated Justice: A Contextual Analysis of Fairness and Inequality in Employment Discrimination Litigation – Ellen Berrey, Steve G. Hoffman Laura Beth Nielsen. Law & Society Review, Volume 46, Issue 1, Article first published online: April 12, 2012 “A substantial body of sociolegal scholarship suggests that the legitimacy of the law crucially depends on the public’s… Continue Reading
BJS – Jail Inmates at Midyear 2011 – Statistical Tables
Jail Inmates at Midyear 2011 Statistical Tables (NCJ 237961) by BJS statistician Todd D. Minton. “The U.S. jail inmate population declined for a third consecutive year, the Justice Departments Bureau of Justice Statistics (BJS) announced today. From June 2010 to June 2011, the jail inmate population declined 1.8 percent, dropping to 735,601 from 748,728.… Continue Reading
How new fees are affecting the Producer Price Index for air travel
BLS, May 2012: “Since 2001, the airline industry has been affected by a number of external shocks, including terrorist attacks, volatile fuel prices, periods of challenging economic times, and an uncertain regulatory environment. In large part because of these factors, the industry has endured years of economic losses$50 billion between 2001 and 2011resulting in many… Continue Reading
Kaiser Family – Updated Primer on Health Care Costs
“Two new reports commissioned by the Foundation examine key issues around Medicare prescription drug spending and the role of competition in achieving savings. The first report, authored by Jack Hoadley of Georgetown University, examines factors that contributed to Medicare’s lower-than-expected spending on prescription drugs under the Medicare Part D drug benefit begin in 2006. The… Continue Reading
CDC – Hospitalization for Stroke in U.S. Hospitals, 19892009
Hospitalization for Stroke in U.S. Hospitals, 19892009. Margaret Jean Hall, Ph.D.; Shaleah Levant, M.P.H.; and Carol J. DeFrances, Ph.D. “An estimated 7 million Americans have had a stroke (cerebrovascular disease). In 2008, direct medical costs of stroke were about $18.8 billion, with almost half of this amount being for hospitalization. Stroke was the fourth leading… Continue Reading
