banks

Eve Abrams

NewCorp has served as convener of the Mardi Gras Indian nations including the Yellow Pocahontas, Mohawk Hunters, Washitaw Nation, Apache Nation, Naypayshni Cherokee Warriors, Fiyiyi, Indians of the Nation, Hard Head Hunters and Golden Camanche. These groups have formed the Black Mardi Gras Indian Cooperative.

Banking on a New Orleans recovery

Aug 4, 2015
Noel King and Caitlin Esch

Alden McDonald, the President and CEO of Liberty Bank, takes a pair of work boots from the trunk of his car and paces the perimeter of a branch that's under construction in New Orleans' Gentilly neighborhood. He lobs question after question at his contractors: what's the square footage on the restrooms? Where will the tellers sit? Is it possible to remove one wall and add some open space? McDonald is nothing if not persistent. It's a character trait that helped when Liberty faced its most trying time.

Transcript

RENEE MONTAGNE, HOST:

The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.

As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.