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JPMorgan Chase & Co. has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.
JPMorgan Chase & Co. said Friday it expects to record a $1.1 billion charge against its second-quarter earnings from its early repayment of $25 billion in taxpayer money the bank received under a federal bailout program.
JPMorgan Chase & Co. said Thursday it expects to realize about $2 billion in savings related to its acquisition of Washington Mutual Inc., the failed Seattle thrift the bank acquired at the end of September.
JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the ongoing credit crisis.
JPMorgan Chase & Co. is shedding about 10 percent of its investment bank staff in an effort to better weather the global economic slowdown.
The economy's downturn could end up being worse than the recent crisis in the financial markets, JPMorgan Chase & Co. CEO Jamie Dimon said Wednesday at a banking conference.
JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.'s banking operations Thursday after federal regulators seized the ailing thrift, the country's largest.
JPMorgan Chase & Co. shares tumbled nearly 10 percent Tuesday as the bank's disclosure about escalating losses in its mortgage portfolio set off new concerns about the health of the overall financial sector. An analyst's lowering of the bank's earnings estimates and price target contributed to the decline.
Alan Schwartz, the Bear Stearns chief executive who was forced to sell the investment bank to JPMorgan Chase & Co., will leave the banking company at the end of the summer, according to an internal memo obtained by The Associated Press on Thursday.
The Federal Reserve on Tuesday cleared the way for JP Morgan Chase & Co. to acquire Bear Stearns' bank holdings.
The Federal Reserve is backing JPMorgan Chase & Co.'s revamped offer to buy Bear Stearns Cos.
JPMorgan Chase & Co. increased its offer Monday for Bear Stearns Cos. to $10 per share from a bargain-basement price of $2 per share, hoping to assuage shareholders of the ailing investment bank.
JPMorgan Chase & Co. on Monday moved to assuage shareholders of Bear Stearns & Co. by increasing its offer to acquire the ailing investment bank to $10 per share from the bargain-basement price of $2 per share.
JPMorgan Chase & Co. says it will now buy Bear Stearns Cos. for about $10 per share.
JPMorgan Chase & Co. was discussing a deal that would increase fivefold its offer for Bear Stearns Cos. to $10 a share, The New York Times reported Monday.
With a deal in place to save Bear Stearns from bankruptcy, the company's shares traded above the offer price Monday even as investors began turning a critical eye to other investment banks amid worries about how far the credit contagion could spread.
JPMorgan Chase & Co., the nation's third-largest bank, said Thursday it is cutting positions at its investment banking division after suffering Wall Street's biggest slump in the leveraged loan market.
JPMorgan Chase Reports Strong Profit of $3.6 BillionA year after accepting a bailout from Washington, a resurgent JPMorgan Chase reported another round of surprisingly strong profits on Wednesday, strengthening its position at the pinnacle of American finance.
Goldman Sachs Reverts to Pre-Lehman Risk Mean as Profits Surge - Bloomberg.comJuly 10 (Bloomberg) -- Goldman Sachs Group Inc.
The Big Bank Bailout Payback Bamboozle Last week was a milestone for US treasury secretary Tim Geithner. He finally got to play the hero.
Paybak Time -- Slate Explores what happens to returned TARP moneyTreasury Secretary Timothy Geithner told Congress Tuesday that he expects about $25 billion from the Troubled Asset Relief Program to be repaid by banks within the year.
JP Morgan Chase Releases Earnings: Glad We Could Help OutJP Morgan Chase Releases Earnings JP Morgan Chase (JPM) has released their Earnings today. Here is the report from MarketWatch:
By: John E. Fiorentino On March 20, 2009 Washington Mutual's holding company filed suit against the FDIC for over 13 billion dollars. The suit contends that the fire-sale of the bank's assets to JPMorgan Chase was a violation of its rights.
The Monster That Ate Wall StreetHow 'credit default swaps'—an insurance against bad loans—turned from a smart bet into a killer.
JP Morgan Could Axe Thousands Of Jobs: Report JP Morgan, the U.S. investment bank, is drawing up plans to axe thousands of jobs across its worldwide operations, reports The Sunday Telegraph.
Loans? Did We Say We'd Do Loans? According to Treasury Secretary Henry Paulson, the chief proponent of the big bank bailout, flooding the banks with taxpayers' money was supposed to get them to start lending freely again.
The "dirty little secret" of the US bank bailoutOne month later, the bailout has been enacted, and all of the dire developments--banks and businesses disappearing, the stock market plunging, unemployment skyrocketing--which the American people were told it would prevent are unfolding with accelerating speed.
Talking Business - So When Will Banks Give Loans?"Twenty-five billion dollars is obviously going to help the folks who are struggling more than Chase," he began. "What we do think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling.
JPMorgan Profit Plummets on Loan Losses JPMorgan Chase & Co's quarterly profit fell 84 percent, due to mark-downs on underperforming loans, but the results still beat analysts' forecasts.
Wall Street, R.I.P.: The End of an Era, Even at Goldman WALL STREET. Two simple words that — like Hollywood and Washington — conjure a world. A world of big egos. A world where people love to roll the dice with borrowed money. A world of tightwire trading, propelled by computers.
By John E. Fiorentino I don't usually write articles like these as I try and stick to Science in my capacity as owner of the Newsvine/MSNBC Science and Space Gateway.
WaMu seized by Feds. Largest Bank Failure in US HistoryJPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire Washington Mutual Inc.'s deposits and branches for $1.9 billion after regulators seized the thrift in the biggest bank failure in U.S. history.
WaMu is largest U.S. bank failure; JPMorgan buys assetsJPMorgan Chase & Co has acquired certain assets of Washington Mutual Inc for $1.9 billion after the large savings and loan was closed by regulators on Thursday. See more irresistible headlines
Does auto industry deserve billions for bail-out?Jeremy Cato, a Canadian auto broadcaster, reviews the bailout situation for US automakers as well as their own management and money errors that lead to it.
US Stocks Retreat on Inflation Concern, Housing Data, Losses U.S. stocks tumbled for a second day after wholesale prices climbed twice as fast as economists projected, housing starts fell and concern grew that the nation's biggest financial firms will post more losses.
At Opednews: Did Bear Stearns Fall Or Was It Pushed? Who was bailed out, Bear Stearns or JPMorgan? The evidence for illegal insider trading.
Is there something wrong with Google's search ads? Google's first-quarter earnings report, scheduled for Thursday afternoon, just got a lot more interesting. Late Tuesday night, those Internet traffic trackers at ComScore put out some lousy news: growth in paid-search clicks in the United States is slowing down.
The headline read "Wall Street rescue," in the business section of the USA Today Friday edition.
JPMorgan in Negotiations to Raise Bear Stearns Bid to $10 a ShareJPMorgan shares jumped last Monday on news of the deal. Bear Stearns shares never traded as low as $2, as shareholders valued them more than twice as much.
The Week in Crime: Wall Street Miscreants Thrown a Lifeline; Wall Street Crime Fighter Thrown a Land MineAmericans learned two new truths last week from the Bush Administration's version of Life's Little Instruction Book: if you're a Wall Street miscreant you're thrown a lifeline; if you're a Wall Street crime fighter you're thrown a land mine.
Fed Takes Quickly Cuts to Key Interest Rate Over WeekendTakes Steps to Ease Crisis, Cuts Lending Rate to Financial Institutions to 3.25 Percent
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