Obama has two accounts with JPMorgan

The forms, released by the White House, show that Obama has a connection to the bank, which made headlines in recent days when the firm reported a loss of $2 billion through risky hedge fund trading.


In an interview on Monday, Obama said the matter underlined the need for Wall Street reform. But at the same time, he voiced support for JPMorgan saying, it is “one of the best managed banks there is.”

Obama also praised the Jamie Dimon, the bank’s CEO, as being “one of the smartest bankers we’ve got."

The Wall Street Journal reported Tuesday that the Department of Justice has launched an investigation into the trading loss.

In total, both Obama and first lady Michelle ObamaMichelle LeVaughn Robinson ObamaJill Biden adds to communications team in lead-up to midterm elections Michelle Obama: 'Treat fear as a challenge' Barack Obama wishes a happy 58th birthday to 'best friend' Michelle MORE have assets worth between nearly $2.6 million and more than $8.2 million, according to the reports, which are listed in broad categories and do not give exact figures.

The reports show that the first couple has a 30-year mortgage on their home in Chicago between $500,000 and $1 million. The Obamas also received royalties from the president’s books including “Dreams From My Father" and "The Audacity of Hope," which total between $250,000 and $2.1 million.