-
The Federal Home Financing Agency (FHFA), apparently stung by the coverage of its lawsuits it against 17 banks and a number of their executive officers, has issued a clarification of the goals and rational behind those suits . The suits which were filed last Friday seek damages on behalf of Freddie Mac...
-
Seventeen banks, dozens of their subsidiaries and over one hundred bank officers were named as defendants in a lawsuit filed Friday by the Federal Housing Finance Agency (FHFA), conservator of government sponsored enterprises Freddie Mac and Fannie Mae (The GSEs.) The civil suits, filed in U.S. District...
-
The Departments of Treasury and Housing and Urban Development (HUD) released the August edition of their Housing Scorecard on Friday which painted a picture of slowly increasing home prices and decreasing foreclosures while delinquencies increased. The Scorecard, issued jointly by the Departments of...
-
Interview with JPMorgan Chief Equity Strategist Thomas Lee (Bloomberg News)
-
JPMorgan CEO Jamie Dimon tells CNBC's Dennis Kneale that the firm was profitable in January
-
Feedback on JPMorgan CEO Jamie Dimon's speech on the severity of the financial crisis, with CNBC's Scott Wapner, Michelle Caruso-Cabrera, Dennis Kneale & Sue Herera.
-
Three major U.S. financial institutions have announced they will halt foreclosures after coming under intense pressure from U.S. politicians on Wednesday to do something to help U.S. citizens weather the financial crisis. Citigroup announced it will be halting foreclosures starting Feb. 12. The bank...
-
The U.S. Federal Reserve has hired JPMorgan Chase as its custodian to run the central bank's purchase of up to $500 billion in mortgage-backed securities as part of the Fed's quantitative easing strategy to liquidate the U.S. financial system. The Fed also selected Blackrock Financial Management...
-
J. P. Morgan Chase & Company has announced that it will make its own contribution to stemming the tide of foreclosures sweeping the country by modifying around $70 billion of its owned mortgages that are in or nearing default. The bank's efforts will focus on restructuring loans for borrowers...
-
U.S. Treasury Secretary Henry Paulson is reportedly taking advantage of the World Bank and IMF meetings in Washington, D.C. by inviting numerous banking executives to a 3 pm EDT gathering on Monday. The meeting comes after the morning's announcement of preliminary details of the Treasury's rescue...
-
JPMorgan Chase has acquired Washington Mutual , a report from the company itself and the Federal Deposit Insurance Corporation (FDIC) said Thursday night. The FDIC called the transaction "simply a combination of two banks," and said WAMU was acquired for $1.9 billion. They said claims by equity...
-
Is it possible that some of the collapses and near misses in the financial markets over the last six months will ultimately be tied to a few sick and/or greedy people who have used rumors and innuendo to manipulate the market ? Government regulators are looking at such a scenario starting with the failure...
-
Two Wall Street giants and their investors are betting that one of the Streets most baffling rules of thumb will prevail as the stock market prepared to open Friday after two days of a bullish market. The rule, one that definitely does not apply to your family finances, is if bad news is not as bad as...
-
On Thursday morning, the Federal Reserve Bank of New York announced its intentions to conclude arrangements for the financing of JPMorgan's acquisition of Bear Stearns by June 26 and finish valuating the investment bank's portfolio. "The New York Fed, in coordination with JPMorgan Chase, is working carefully...
-
In spite of it all, the "it" being the stunning speed with which Bear Stearns hit rock bottom last month and the midnight ride rescue of the investment bank by J.P. Morgan Chase, Bear Stearns is still reporting a profitable first quarter. The bank, reported a profit of $.86 per share on revenues of ...