Make banking boring againis a favorite reaction to news that JPMorgan was screwing up its VaR modelling of its attempt to get long gamma with improperly delta-hedged tranches of the CDX.NA.IG.9 and, sure, maybe,but dont tell Treasury:

$$$ How JPMorgan’s storm in a teapot grew [FT] $$$ And more on JPM’s likely tranche trades [FTAV] $$$ ECB stops operations with some Greek banks [Reuters] $$$ Greeks urged to run poll as euro vote [FT] $$$ Paulson Pitches AngloGold Ashanti and Caesar’s [De alBook] $$$ Martin Marietta Falls Most Since 2008 After Einhorn Criticism…

Some people are keeping their London-based gigs (for now) and some people are not.JPMorgan Chase, the biggest U.S. lender by assets, will eliminate 20 investment-banking jobs in London as market conditions weaken, according to a person with knowledge of th e cuts. The staff cuts aren’t related to the $2 billion loss at the New York-based company’s chief investment office in London, said the person, who asked for anonymity because the investment bank reductions haven’t been made public.[Bloomberg]

If it feels like it's been forever since we last heard from Eliot Spitzer's former gal-pal Ashley Dupré it's because it has. What's she been up to since July 2010, when she told reporters she was focusing on getting her real estate license and writing a d ating column which sadly did not continue past its debut? Becoming a small business owner and shedding her old skin, which she'd appreciate if you didn't bring up in conversation. That (hooking) was then, this (being a New Jersey-based entrepreneur) is...

$$$ Greece fails to form unity government [FT] $$$ Greek Depositors Withdrew $898 Million From Banks Monday [WSJ] $$$ “The plane carrying newly sworn-in French President François Hollande was hit by lightning Tuesday afternoon, forcing him to delay a trip to Berlin, where he is due to meet German Chancellor Angela Merkel.” [WSJ] $$$ Happy…

The Swiss bank is not done with its firings.Credit Suisse, the second- biggest Swiss bank, told New York state regulators it will eliminate 126 jobs in Manhattan over the coming months. The dismissals affect offices at 1 Madison Ave. and 11 Madison Ave. an d will extend through Aug. 6, the bank wrote in a Department of Labor filing. The firm decided last year to scale down its investment bank and said it would cut 3,500 jobs.[Bloomberg]

A wonderful thing about the Facebook IPO is that there is a proliferation of imaginary markets in which to … well, not trade it exactly, but say what you would be doing if you could trade it, which is almost as good. Here is the Wall Street Journal’s imagi nary market, with a “Current Price Prediction”…

Time was, Jamie Dimon was the most popular CEO on Wall Street and America’s “Least Hated Banker,” for reasons that included the fact that the man has soulful blue eyes, charisma out the ass, and was in charge of one the banks that a) didn’t go out of busin ess during the financial crisis, like Lehman…

In Facebook IPO, Frenzy, Skepticism (WSJ)Michael Belanger, a lawyer from Oklahoma City, invests his personal money in the stock market. But he will be skipping Facebook's IPO because he thinks its valuation is totally

Gundlach, second from right, with the members of Radical Flats, which included his wife, second from left. Gundlach was still in the band during his early years at TCW. He showed up for his first day on the job having “mastered the math in Sidney Homer an d Martin Leibowitz’s Inside the Yield Book” which,…