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‘London Whale’ on His Way Out at JPMorgan

Bruno Iksil, the man believed to be mostly responsible for JPMorgan's loss of $2 billion, is following his boss Ina Drew to the Wall Street sacrificial slaughter. Although he "is still employed," according to the Times, "he is no longer trading on behalf on the bank and is expected to be gone by the end of the year." Judging by recent history when it comes burning one's controversial employer with hubris, we're predicting a book deal.

Previously: Who Is the London Whale?

Student Found Not Guilty Thanks to Video at First Occupy Wall Street Trial

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NEW YORK, NY - APRIL 25: Police stand by as protesters march to Wall Street during an ACT-UP and Occupy Wall Street demonstration on April 25, 2012 in New York City. ACT-UP (AIDS Coalition to Unleash Power), was marking their 25-year anniversary in supporting services for people with AIDS worldwide. They were joined by Occupy Wall Street protesters in a march from New York's city hall to Wall Street. The groups called for a tax on Wall Street transactions and speculative trades to raise money for to end the global AIDS epidemic and provide universal healthcare in the U.S. (Photo by John Moore/Getty Images)

Alexander Arbuckle, the defendant in the first Occupy Wall Street case to actually go to trial, has been acquitted after video of the incident in question showed him breaking no laws. The best part: Arbuckle was hoping to defend police officers working at Occupy protests with his NYU photojournalism project when he was arrested and charged with disorderly conduct for allegedly blocking the street. "I felt the police had been treated unfairly on the media," he told the Village Voice. "All the focus was on the conflict and the worst instances of brutality and aggression, where most of the police I met down there were really professional and restrained."

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Stop-and-Frisk Lawsuit Bumped Up to Class-Action Status

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New York Police Department officers walk along a street in Lower Manhattan March 18, 2012 in New York. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)

A lawsuit alleging that the NYPD unfairly targets people of color with its stop-and-frisk program will be allowed to proceed as a class-action suit, a Federal District Court judge ruled today, taking the opportunity to throw some jabs at the city. The huge disparity in the races of those stopped and searched on the street is very public at this point, but the four plaintiffs whose case has been winding its way through courts since 2008 can now be joined by many, many more. "The vast majority of New Yorkers who are unlawfully stopped will never bring suit to vindicate their rights," said Judge Shira Scheindlin. She didn't stop there.

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Hannibal Buress Doesn’t Know Whether His Stove Works

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Name:  Hannibal Buress

Age:  29.25 

Neighborhood: Williamsburg

Occupation: Comedian. His one-hour Comedy Central special Hannibal Buress: Animal Furnace airs this Sunday, May 20 at 11 p.m., followed by the premiere of The Eric Andre Show at 12:30 a.m. on Adult Swim, which he co-hosts. [Editor's Note: A big night! If you want to celebrate with him, he'll be at his regular Sunday night gig at the Knitting Factory.] 


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Brooklyn Heights Library Sounds Like a Wild Place

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Prior to today, if you had asked us to name the tamest, most unexciting place in New York, we would have said, "Oh, um, that's a weird question. But, probably, a library in Brooklyn Heights, maybe?" Little did we know that the Brooklyn Heights branch of the Brooklyn Public Library is a veritable Thunderdome, replete with porn-related chair-throwing and porn-related stabbings. 

“How are we going to get back to Peekskill?” »

JPMorgan Sued by Shareholders Over Losses

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James "Jamie" Dimon, chief executive officer of JPMorgan Chase & Co., speaks at a conference on global capital markets competitiveness hosted by the U.S. Chamber of Commerce in Washington, D.C., U.S., on Wednesday, March 30, 2011. Dimon said cutting debt for home borrowers isn't the solution to the U.S. mortgage crisis. Photographer: Andrew Harrer/Bloomberg via Getty Images *** Local Caption *** James Dimon

Executives at JPMorgan Chase, including CEO Jamie Dimon and CFO Douglas Braustein, have been hit with two investor lawsuits charging them with misleading shareholders about the $2 billion bomb. "These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for J.P. Morgan shareholders," said one of the suits, which only adds to the bank's myriad current issues. One of the complaints singles out April 13, the day Dimon insisted on a conference call that worries about the bets were "a complete tempest in a teapot." Expect those woefully inadequate words to keep coming up.

James Lipton Grades Presidents’ Acting Skills

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After totally schooling Mitt Romney on how to act like a human yesterday, James Lipton, host of Inside the Actors Studio, appeared on The Last Word to offer up his critiques of other political performers. First up, Lipton graded President Obama's Tuesday appearance on The View, and called back to a bigger performance: last year's White House Correspondents' Dinner.  "President Obama killed the crowd in a language both you and I understand, while he was simultaneously killing Osama bin Laden," Lipton said. "That ... is cool." Lipton then went on to grade Bill Clinton's handling of the question "Boxers or briefs?", George W. Bush being questioned about bin Laden, and Vice-President Joe Biden's recent comments supporting gay marriage.

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