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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: JPMorgan Chase

JPMorgan Chase stories: 158 news summaries

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$250K APIECE

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Nov 9, 09 4:55 AM CST
(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,... More »

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executive compensation • Goldman Sachs • Morgan Stanley • bonuses • compensation • Federal government • bailout • JPMorgan Chase • executives • Wall Street bailout • TARP

 Feds Missed 
 Galleon Warning Signs 

JPMorgan warned that fund dealt in 'grey areas'

Oct 30, 09 10:10 AM CDT
(Newser) - The government says its star witness, Roomy Khan, was the first person to pass inside info to Galleon Group honcho Raj Rajaratnam, and went on to become a central part in his operation. Which is awkward, because Khan was prosecuted in 2000 for passing insider information to someone at Galleon—... More »

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insider trading • JPMorgan Chase • Raj Rajaratnam • Galleon Group • Roomy Khan

JPMorgan Earns $3.6B, Despite Loan Losses

Market soars as investment profits give bank strong 3rd quarter

Oct 14, 09 9:02 AM CDT
(AP) - JPMorgan Chase reported strong third-quarter earnings today as its thriving investment banking business more than offset rising consumer loan losses that the bank warned would continue. The company, the first of the big banks to report, showed a $3.59 billion profit, or 82 cents per share. But it also... More »

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stock market • Wall Street • earnings reports • corporate earnings • financial services • financial sector • JPMorgan Chase

ANALYSIS

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

Oct 8, 09 6:22 PM CDT
(AP) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on... More »

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Barack Obama • Goldman Sachs • Freedom of Information Act • Citibank • Treasury Department • Barney Frank • Lloyd Blankfein • JPMorgan Chase • Obama administration • Jamie Dimon • President Obama • Timothy Geithner

Chase, Bank of America Tweak Overdraft Policies

Will eliminate fees on small overdrafts, cut number of times customers can be hit daily

Sep 22, 09 7:44 PM CDT
(Newser) - After squawking by legislators, JPMorgan Chase and Bank of America are changing how they charge overdraft fees, the Wall Street Journal reports. BofA now won’t charge customers if they overdraw their accounts by under $10 in one day; at Chase, it’s $5 or less. Both are also reducing... More »

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Bank of America • JPMorgan Chase • financial crisis • overdraft fee

ANALYSIS

 Post-Lehman, 'Washington 
 Is the New Wall Street' 

Nation's political and financial capitals

Sep 13, 09 11:38 AM CDT
(Newser) - For decades, more than just 228 miles separated Wall Street from Washington, as financiers cast a casual eye at government regulators. But a year after Lehman Brothers’ dramatic implosion, the nation’s financial and political capitals are forging a new, closer relationship that has some concerned, David Cho, Steven Mufson,... More »

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Wall Street • Citigroup • business • Washington • Lehman Brothers • JPMorgan Chase • bank regulation

(Newser) - Many of the lenders eligible for $75 billion in taxpayer subsidies from the government's foreclosure prevention program are the very same subprime lenders who fueled the mortgage crisis in the first place, the Washington Post reports. According to a report to be released tomorrow, JPMorgan, Countrywide, Wells Fargo, and other... More »

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Wells Fargo • Countrywide • JPMorgan Chase • subprime lender • Making Homes Affordable

(Newser) - After joining other major banks in snubbing cash-strapped California last month, JPMorgan Chase has changed tack and is lending the state $1.5 billion to end its IOU program a month early. The short-term loan will enable California to start redeeming on Sept. 4 the IOUs it has been using... More »

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California • recession • JPMorgan Chase • financial crisis • IOU • California economy

OPINION

 Post-Crisis Wall Street 
 Suffers Convenient Amnesia 

With bailouts, Treasury went too easy on financial industry

Aug 13, 09 11:22 AM CDT
(Newser) - We keep hearing that “Wall Street as we know it ended” in September 2008, but in fact, “the great upheaval of last fall may not have been severe enough,” writes David Weidner in the Wall Street Journal. The government formed a financial “death panel,” choosing... More »

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Wall Street • bailout • JPMorgan Chase • banks • Wall Street bailout

 US Banks Hiring Again 
 After Layoffs, Bailouts 

But headhunting 'selective,' notes banker

Aug 11, 09 7:25 AM CDT
(Newser) - After cutting thousands of jobs over the past two years, American banks are rushing to fill them again as business picks up, Reuters reports. “Back in March and April, no one really knew if the investment banking business was going to exist again," said a search firm exec.... More »

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Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • employment • JPMorgan Chase • banks • financial crisis • hiring

(Newser) - American banks will pull in $38.5 billion in overdraft fees this year, a record sum that's largely coming from pockets of the poorest and most indebted consumers. According to the Financial Times, banks hiked fees on overdrafts and credit cards as the financial crisis took hold; this year's take... More »

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Citigroup • Bank of America • debt • bank • credit • banking • consumer debt • JPMorgan Chase • overdraft fee



 Dimon: 
 DC's New 
 Favorite 
 Banker 

JPMorgan CEO ingratiates himself with Washington

Jul 19, 09 11:25 AM CDT
(Newser) - As the nation's financial center shifted from Wall Street to Pennsylvania Avenue, one man managed both to keep his bank afloat and emerge from a toppled industry with credibility in the White House. In a lengthy profile of Jamie Dimon, the New York Times takes a look at the JPMorgan... More »

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CEO • Rahm Emanuel • Washington, DC • JPMorgan Chase • Obama administration • banking industry • Jamie Dimon • TARP

EARNINGS REPORT

JPMorgan Profit Jumps 36%, Defying Expectations


Jul 16, 09 7:00 AM CDT
(Newser) - JPMorgan Chase, the largest bank to repay TARP money, posted second-quarter earnings of $2.7 billion—smashing analysts' predictions with a 36% increase in profit. The bank became America's second-largest after hoovering up Bear Stearns and Washington Mutual, and like Goldman Sachs it has used a boom in investment banking... More »

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Wall Street • profits • earnings reports • second quarter earnings • quarterly profits • investment banks • JPMorgan Chase • TARP

MARKETS

 Financials Propel Dow Up 185 

Big gains for major banks ahead of earnings reports

Jul 13, 09 3:17 PM CDT
(Newser) - Stocks staged a broad rally today as financials soared ahead of earnings reports, the Wall Street Journal reports. Bank of America surged 9%, while Citigroup and JP Morgan Chase rose 6.9%. General Electric, which will also report its second-quarter earnings this week, rose 6.1%. The Dow closed up... More »

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Citigroup • Bank of America • Dow Jones • General Electric • Nasdaq • S&P 500 • JPMorgan Chase

MARKETS

 Boeing Drops; Dow Loses 16 

Bank of America, JP Morgan Chase post modest advances

Jun 23, 09 3:29 PM CDT
(Newser) - Stocks were mixed today, between a slide by Boeing and a successful auction of 2-year Treasury notes, the Wall Street Journal reports. Another delay for its Dreamliner dragged Boeing down 6.27%; Bank of America and JP Morgan Chase both advanced after yesterday’s sell-off. The Dow fell 16.10... More »

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Boeing • Bank of America • Dow Jones • Boeing 787 Dreamliner • Nasdaq • S&P 500 • JPMorgan Chase



 Fed Mulls Overhaul 
 of Overnight Lending 

May create new entity to replace loan clearing banks

Jun 22, 09 1:15 PM CDT
(Newser) - The Fed is planning an overhaul of the repurchase markets involved in banks’ overnight trading—including the creation of a new unit to oversee transactions, the Financial Times reports. Such a facility would take the place of clearing banks, such as JPMorgan Chase, that currently act as middlemen for loans,... More »

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Federal Reserve • loans • Lehman Brothers • JPMorgan Chase • financial crisis • repurchase market

(Newser) - The Treasury Department has given 10 banks—including Goldman Sachs, JP Morgan, American Express, and Capital One—permission to repay their TARP loans, the Wall Street Journal reports. The government will recoup $68 billion faster than anticipated, but the money won’t go back into the public coffers; Tim... More »

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Congress • Goldman Sachs • American Express • Treasury Department • Capital One • JPMorgan Chase • Troubled Asset Relief Program • TARP

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

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media • Sam Zell • Tribune Company • Citigroup • bankruptcy • debt • JPMorgan Chase • Chicago Tribune • newspaper industry • creditor • lenders

Three Big Banks Apply to Repay TARP Funds

Goldman, JPMorgan, Morgan Stanley want out of pay restrictions

May 19, 09 7:59 AM CDT
(Newser) - Goldman Sachs, JPMorgan Chase, and Morgan Stanley have applied to repay a combined $45 billion of TARP funds, Bloomberg reports. The three banking giants must receive permission from the Fed before returning the money. The repayments would be the most substantial since Congress established the $700 billion program, and will... More »

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executive compensation • Goldman Sachs • Morgan Stanley • JPMorgan Chase • financial crisis • TARP

MARKETS

 Dow Jumps 164 in Jobs Rally 

Investors find hope in stress tests and unemployment results

May 8, 09 3:29 PM CDT
(Newser) - Stocks rallied today on the unemployment report and stress-test results, the Wall Street Journal reports. Though unemployment continues to grow, the slowing pace of joblessness fueled a cautious optimism. American Express and JP Morgan Chase, who “passed” the government’s test, both gained 9%. The Dow closed up 164.... More »

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Dow Jones • American Express • unemployment • Nasdaq • S&P 500 • JPMorgan Chase

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