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JPMorgan expects rise in loan defaults
JPMorgan Chase & Co. is expecting consumer loan defaults to rise in the fourth quarter, as will loan loss provisions.
Report: JP to shutter proprietary trading desk
JPMorgan Chase & Co. of New York will close down its proprietary trading desk and cut some of the unit's employees as the company prepares to deal with a looming recession, according to Bloomberg.
Dimon sees 2010 rebound for JPMorgan
JPMorgan Chase & Co. will face “highly challenging conditions” in 2009 but could have a “strong recovery” in 2010, the Wall Street giant’s chief executive, Jamie Dimon, told employees in Hong Kong today, according to Bloomberg.
FDIC claims rights to WaMu’s JPMorgan deposit
The Federal Deposit Insurance Corp. filed papers Monday stating that it has a right to a $4.4 billion deposit that Washington Mutual Inc. claims to own.
Feds to probe WaMu collapse
In response to calls for an investigation into the demise of Washington Mutual Inc., the U.S Attorney’s Office for theWestern District of Washington has announced that a task force is examining the bank’s activities to see if any federal laws were violated.
JPMorgan, Schwab, Wells Fargo and Piper
New York-based JPMorgan Chase reported a third-quarter profit of $527 million, or 11 cents a share, down 84% from the $3.4 billion, or 97 cents a share, recorded in the year-ago period.
WaMu buy gives JPM 15% of bank-broker market
Accounting for roughly 10% of the nation’s retail-securities business done at banks, JPMorgan Chase & Co. is set to become even more dominant in that segment once it completes its $1.9 billion takeover of Washington Mutual Inc.
CEO Fishman could exit WaMu with $11.6M
Mr. Fishman appears set to collect a payout worth $11.62 million if he leaves the company “with cause” or because of “constructive termination."
Jamie Dimon fans say ‘Thank you, WaMu’
JPMorgan Chase & Co.'s cut-rate acquisition of Washington Mutual gives JPM a huge lift, creating a 240,000-employee competitor with Bank of America.
WaMu seized, sold to JPMorgan Chase
JPMorgan Chase & Co. will acquire all deposits, assets and certain liabilities of Washington Mutual Inc. from the Federal Deposit Insurance Corp., which has taken control of the nation’s largest thrift.
Report: AIG in talks to dump toxic assets
American International Group Inc. is reportedly in talks with JPMorgan Chase & Co. to spin off some its subprime assets into a new company, according to The New York Post.
JPMorgan takes drubbing from Fannie and Freddie
The value of the firm'sinvestments in Fannie Mae and Freddie Mac was halved to $600 million combined in the current quarter.
JPMorgan heading south in third quarter
JPMorgan Chase & Co. has lost about $1.5 billion since the beginning of July, according to a filing with the SEC.
Ex-JPMorgan banker arrested
Hernan Arbizu was arrested in Buenos Aires on charges that he stole nearly $5.4 million from customer accounts.
Dimon calls on SEC to probe Bear rumors
The JPMorgan Chase CEO wants to know if rumors spread by short sellers betting against Bear Stearns helped sink the firm.
Bear deal done to avert disaster, Fed says
The Federal Reserve Board bailed out The Bear Stearns Cos. Inc. to avert a disaster that would have wreaked havoc on the financial markets.
Goldman predicts write-downs for Citigroup
Goldman Sachs Group Inc. of New York predicted yesterday in a research note that Citigroup Inc. might record $8.9 billion in fresh write-downs in the second quarter.
JPMorgan’s Weatherstone dead at 77
Former JPMorgan Chase & Co. chairman and CEO Sir Dennis Weatherstone helped turn the Wall Street firm into a U.S financial giant.
Bear Stearns shareholders approve sale
The purchase of the investment bank by JPMorgan Chase was made for about $10 a share, for a total of $2.2 billion.
JPMorgan to keep 55% of Bear staff
The firm has made hiring decisions for two-thirds of the 14,000 Bear Stearns staffers, said CEO Jamie Dimon.
