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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: JPMorgan Chase

JPMorgan Chase stories: 159 news summaries

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MARKETS

 Bailout, Oil Send Dow Down 372 

Traders nervous about long-term effects

Sep 22, 08 3:26 PM CDT
(Newser) - Stocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75,... More »

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Microsoft • Exxon • Chevron • Dow Jones • American Express • Nasdaq • S&P 500 • bailout • JPMorgan Chase • oil prices

(Newser) - Goldman Sachs and Morgan Stanley, the nation's last two major independent investment banks, have gotten permission to become bank holding companies, the Federal Reserve said tonight. A fundamental rearrangement of Wall Street, the move will allow them to create commercial banks, which would bolster their resources, while inviting increased regulation.... More »

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Goldman Sachs • Morgan Stanley • Bear Stearns • Merrill Lynch • Lehman Brothers • investment banks • JPMorgan Chase • financial crisis

 Morgan Stanley, WaMu
Edge Closer to Deals

WaMu readies for sale while Morgan mulls merger options

Sep 19, 08 3:07 AM CDT
(Newser) - Two of the biggest financial institutions in the midst of the market turmoil are moving closer to hammering out deals. Washington Mutual's suitors are believed to include Citibank, JP Morgan and Bank of America, insiders tell Bloomberg, while Morgan Stanley and Wachovia have stepped up merger talks, reports the New ... More »

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Bank of America • Wachovia • Morgan Stanley • Citibank • credit crisis • Washington Mutual • financial institutions • JPMorgan Chase • financial crisis

 Feds Search for WaMu Buyer 

Falling share price stokes worries of a bank run

Sep 17, 08 1:06 PM CDT
(Newser) - Washington Mutual, America's largest savings and loan, may be the next big financial institution to fail, the New York Post reports. Fearing a run on the struggling bank, federal regulators placed calls yesterday gauging interest in a WaMu buyout to Wells Fargo, JP Morgan Chase, HSBC, and others, but no... More »

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Wells Fargo • credit crisis • Washington Mutual • mortgage backed securities • Standard and Poor • savings • bank failure • JPMorgan Chase

 10 Banks Form 
 $70B Fund to 
 Stave Off Crash 

Paulson brokers twin public-private liquidity measures

Sep 15, 08 5:27 AM CDT
(Newser) - Ten of the world's largest banks have formed a massive liquidity fund to mitigate the effects of the Lehman Brothers meltdown, reports the Financial Times. All the investment banks will be able to borrow up to a third of the $70 billion fund in order to reduce volatility and stay... More »

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Wall Street • Citigroup • Bank of America • Barclays • Goldman Sachs • Federal Reserve • Credit Suisse • Henry Paulson • Morgan Stanley • Deutsche Bank • UBS • Merrill Lynch • funds • Lehman Brothers • liquidity • investment banks • JPMorgan Chase

 3 More Wall Street Firms Agree to Buy Back Securities

Settlement reached after auction-rate securities market collapse

Aug 22, 08 2:23 AM CDT
(Newser) - Merrill Lynch, Goldman Sachs and Deutsche Bank have agreed to a settlement with New York's attorney general and other state regulators to buy back $14.5 billion of now worthless auction-rate securities. The brokerages will also pay $162 million in fines to settle charges that they misled investors into thinking... More »

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Citigroup • Goldman Sachs • Wachovia • Morgan Stanley • Deutsche Bank • UBS • Merrill Lynch • SEC • Andrew Cuomo • John Thain • auction-rate securities • JPMorgan Chase

Bank Losses Soar on Falling Home Prices

Lenders swamped with foreclosures are selling them at firesale prices

Aug 13, 08 8:05 AM CDT
(Newser) - The rising costs of carrying foreclosed homes are prompting banks to sell them off for as little as half of their original value, reports the Wall Street Journal, a strategy that’s costing financial institutions big money. The losses, and the specter of their continuing to rise, pummeled bank... More »

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Wachovia • foreclosure • credit crisis • housing crisis • JPMorgan Chase

MARKETS

 Financials Lead Broad Slump 

Equities fall even though oil does, too

Aug 12, 08 3:30 PM CDT
(Newser) - Stocks fell today as waves of bad news from the financial sector battered investor sentiment, MarketWatch reports. Equities lost value despite a $1.44 drop in the price of oil, reversing what has recently been a consistent inverse relationship. The Dow fell 139.88 to 11,642.47, the Nasdaq... More »

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Dow Jones • Wachovia • UBS • Nasdaq • S&P 500 • auction-rate securities • JPMorgan Chase • oil prices

Morgan Stanley, JPMorgan on Auction-Rate Probe Hot Seat

List of banks buying back bonds gets longer

Aug 12, 08 9:46 AM CDT
(Newser) - As New York AG Andrew Cuomo's office continues applying heat, banks are scrambling to react to the auction-rate securities crisis, the Wall Street Journal reports. Morgan Stanley said yesterday it will buy back about $4.5 billion of the illiquid securities—but a Cuomo spokesman called the move “too... More »

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Wachovia • Morgan Stanley • Andrew Cuomo • auction-rate securities • investment banks • JPMorgan Chase

2007 Mortgages Failing at Triple the Rate of 2006

Prime loans made in early 2007 are going bad at triple the rate of 2006 loans

Aug 7, 08 9:29 AM CDT
(Newser) - Mortgages procured in 2007 are souring at a rate nearly triple that of 2006, reports the Wall Street Journal, suggesting that the wallop to the financial system from forclosures could be far from over. Analysis done for the paper finds 0.91% of the prime loans issued in the... More »

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foreclosure • Freddie Mac • subprime crisis • mortgage defaults • JPMorgan Chase

Wall Street May Scoop Up Troubled Pension Plans

Businesses stand to benefit, but opponents worry about big guns' motives

Aug 6, 08 11:05 AM CDT
(Newser) - Though still smarting from the subprime debacle, some of the Wall Street’s biggest players are lobbying the government to be allowed to buy up and manage some of the $2.3 trillion in US corporate pension funds, BusinessWeek reports. Many businesses, eager to get the plans off their books,... More »

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investing • Cerberus Capital Management • Citigroup • subprime crisis • pension funds • JPMorgan Chase • financial crisis

Lenders See New Wave of Prime Defaults

Bigger group of 'good' borrowers now face foreclosure

Aug 4, 08 8:11 AM CDT
(Newser) - The flood of foreclosures on subprime mortgages seems to be ebbing, the New York Times reports, but a second, larger group of borrowers—those with better credit—are now expected to default in coming months. A continued weak economy, unemployment, and other economic factors helped to quadruple the percentage... More »

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foreclosure • subprime crisis • mortgage defaults • JPMorgan Chase

A Believer in Hands-Off
Now a Defender of Hands-On

Treasury chief Henry Paulson has turned to intervention to calm markets

Jul 25, 08 1:15 PM CDT
(Newser) - Treasury Secretary Henry Paulson is in the midst of a reluctant about-face of his economic principles. The Los Angeles Times looks at how Paulson—a former chief executive at Goldman Sachs with a long history of faith in laissez-faire capitalism—has had to become the point man for the Bush... More »

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Henry Paulson • Bear Stearns • US economy • Freddie Mac • Fannie Mae • Treasury Department • subprime crisis • JPMorgan Chase • financial crisis

Earnings

Citi Losses Shrink in 2nd Quarter, Beat Expectations

Rounds out week of better-than-expected results

Jul 18, 08 8:32 AM CDT
(Newser) - Citibank delighted shareholders today by losing a mere $2.5 billion in the second quarter, the Wall Street Journal reports. Analysts had expected much worse from the US’ biggest bank by assets, but Citi beat expectations by reducing writedowns and slashing jobs. The results should prove a counterweight to... More »

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earnings reports • Merrill Lynch • Wells Fargo • second quarter earnings • Citibank • JPMorgan Chase

glossies

 Baffled Execs Say
 Rumor Killed
 Stearns 

They claim hedge funds, Goldman Sachs invented bad news for profit

Jul 5, 08 12:06 PM CDT
(Newser) - Bear Stearns' collapse and shotgun marriage to JP Morgan were sparked by little more than a rumor, Vanity Fair reports. True, the investment bank had stumbled—a $1.6 billion bailout of troubled funds hurt its image—but whispers of liquidity problems were false: Bear had $18 billion in cash... More »

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Federal Reserve • Bear Stearns • credit crisis • subprime crisis • investment banks • JPMorgan Chase • financial crisis

ANALYSIS

 Cramer:
 Never Seen
 Wall Street
 This Bad 

Analyst sees no end in sight for layoffs and write-downs

Jun 16, 08 12:02 PM CDT
(Newser) - While he steers clear of the Great Depression, everything else is fair game as reference in James J. Cramer’s apocalyptic appraisal of Wall Street for New York. In Cramer's 25 years, he's seen lots of implosions, but this one is different: With thousands of layoffs at major shops,... More »

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Wall Street • Morgan Stanley • Bear Stearns • finance • Lehman Brothers • subprime crisis • JPMorgan Chase • opinion • financial crisis

 Banks Cut Colleges
 Eligible for Student Loans 

Students at 2-year, non-elite 4-year schools left in the lurch

Jun 2, 08 8:09 AM CDT
(Newser) - Students at 2-year and some less competitive 4-year colleges will be having a tougher time finding loans as banks trim the list of colleges they serve, reports the New York Times. In a move that potentially shuts out some of the neediest students, Citibank, JPMorgan, PNC, and SunTrust all say... More »

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Sallie Mae • student loans • Wells Fargo • Citibank • JPMorgan Chase • credit market chaos

Shareholders Rubber-Stamp Bear Selloff

84% OK JPMorgan buyout; chairman 'sad' over firm's demise

May 29, 08 12:21 PM CDT
(Newser) - The buyout of Bear Stearns neared finality today with 84% of shareholders voting in favor of acquisition by JPMorgan Chase, the Wall Street Journal reports. Chairman James Cayne shared his feelings publicly with shareholders about the bank’s demise for the first time: "I personally apologize,” he stated,... More »

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shareholders • Bear Stearns • James Cayne • liquidity • credit crisis • investment banks • JPMorgan Chase

JPMorgan Leads Hunt to Place Bear Workers

Firm pitches in to
help 5K employees
laid off after takeover

May 19, 08 10:10 AM CDT
(Newser) - JP Morgan hopes to find jobs for 5,000 Bear Stearns employees cut when it acquired the brokerage in March, the Financial Times reports. CEO Jamie Dimon is sending letters to rivals and clients, and the company has contacted 1,800 firms urging them to consider former Bear workers. The... More »

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Wall Street • Bear Stearns • unemployment • subprime crisis • JPMorgan Chase • credit market chaos

Mammoth Writedowns Hammer AIG

Insurance giant posts $7.8B 1Q loss as
credit woes continue

May 9, 08 2:41 AM CDT
(Newser) - American International Group posted a record-breaking $7.8 billion first-quarter loss yesterday, reports the Wall Street Journal. The insurance giant blamed the poor results on the sagging housing market, the credit crunch and the see-sawing stock market. It announced plans to raise $12.5 billion to patch up the damage... More »

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insurance • derivatives market • AIG • credit crisis • writedowns • quarterly results • losses • Martin Sullivan • JPMorgan Chase • financial crisis

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