Jpmorgan Chase - Obama Has Assets In Jpmorgan Accounts - White House Reuters

Tue May 15, 2012 7:22pm EDT

* One consideration produced below $201 throughout involvement in 2011

* Obama praises JPMorgan even with trading losses

WASHINGTON May 15 (Reuters) - U.S. President Barack Obama provides $500,001 to be able to $1 million from a JPMorgan Chase individual clientele property software checking account, matching in order to fiscal disclosures published with the White House on Tuesday.

Obama mentioned the following few days that will JPMorgan ended up being "one belonging to the greatest managed banking institutions there is" despite it's $2 billion stock trading loss being looked at from the Securities as well as Exchange Commission.

"This can be a verifying consideration utilized by your president plus the initial lady," said White House spokeswoman Amy Brundage. "It will be equal of an interest-bearing checking out consideration available with many other personal institutions," she said, noting so it generated fewer compared to $201 with fascination income around 2011.

The president's 2011 disclosures likewise involved a frequent JPMorgan Chase checking akun while in the $1,001 to be able to $15,000 range. His alternative main property bundled $500,001 to $1 zillion inside U.S. Treasury payments as well as between $1 zillion and also $5 million around U.S. Treasury notes.

In your be aware within the 12-monthly fiscal claims which were submitted online, your White House mentioned "neither your chief executive nor your vice president have any kind of clashes involving interest."

Obama, around an physical appearance within the traditional TV show "The View," that is taped about Monday in addition to shown on Tuesday, praised JPMorgan chief Jamie Dimon and also said your bank's loss showed the demand intended for powerful economic oversight.

"You would have some sort of lender that's not when strong, is just not while worthwhile creating these exact same bets along with we (the government) will often have needed to stage in. That's exactly why Wall Street reform's therefore important," he / she said.