This is what’s in the news for Monday May 21, 2012. The Wall Street Journal reports Irvin Goldman, the JPMorgan (NYSE:JPM) chief risk officer who oversaw risk management at the unit responsible for trading blunders that cost the bank at least $2B this year, earlier lost millions while trading for the same unit, sources say. Reuters reports newly issued shares in Facebook (NASDAQ:FB) may have a difficult time this week if lead underwriter Morgan Stanley (NYSE:MS) stops supporting the stock and managers lower down in the IPO book decide to get out. Reuters also reports London-based Mint Partners, acquired by interdealer broker BGC Partners (BGCP) in 2010, is expanding into energy brokerage in Asia by starting a middle distillates broking desk in Singapore next month, sources say. Bloomberg reports bond traders are lowering expectations for U.S. inflation by the most since December, providing Fed Chairman Ben Bernanke the scope for additional stimulus as the central bank’s current effort winds down. Bloomberg also reports oil prices gained for the first time in seven days in New York after China said it would boost the nation’s economy and Goldman Sachs (NYSE:GS) said the balance between supply and demand of crude is tightening.
