Politics in the Zeros (Free subscription) | 05/10/2008
“There is no honor among thieves” The Big Picture says, could be. Bloomberg and the Sunday Times agree and are running investigative stories about JP Morgan deliberately withholding funds from Lehman, forcing their collapse. Bloomberg is a bit circumspect, while the Sunday Times pointblank says “JP Morgan ‘brought down’ Lehman Brothers” JP Morgan has been accused by its [...]
Peak Energy (Free subscription) | yesterday
There are a few press reports around saying that JPMorgan did, which would be interesting if it turns out to be true (and supports Charlie Stross' theory that the onset of the credit crunch has been a form of "October Surprise"). From Bob Morris - Did JP Morgan Chase kill Lehman with tacit ok from the feds ? . The Big Picture says, could be. Bloomberg and the Sunday Times agree and are running investigative...
Seeking Alpha (Free subscription) | 04/10/2008
Compete submits: As a Washington Mutual (WM) account holder, my greatest concern about WaMu’s viability became a reality a week ago Friday. WaMu, known for its breezy “WhooHoo!” advertising and bright colors, was no more, and now I am officially an account holder at JP Morgan Chase (JPM). I immediately logged onto wamu.com to see what information Chase was providing for potentially nervous WaMu customers...
Slog (Free subscription) | 02/10/2008
An anonymous Slog tipper writes... Heads-up from inside the walls at WaMu... Apparently JP Morgan Chase is going to try a workaround to avoid paying the office employees at WaMu a severance. They claim they're going to offer everyone a job. For the tellers and branch management, this is not a big deal because JPMC needs those people in Seattle and other West Coast locales for their new branches. However,...
Maoxian (Free subscription) | 02/10/2008
Commenter EricC mentioned recently that he has a long list of financial and real estate stocks that are trading at or near new highs. While I don’t follow that many stocks, I am familiar with the Financial SPDR (XLF) components and know that JP Morgan Chase (JPM) is very near a new all-time high, as [...]
Mark Investments (Free subscription) | 02/10/2008
Struggling Wall Street investment bank Bear Stearns is sold at the fire-sale price of 236 million dollars to JP Morgan Chase, in a deal engineered by the Federal Reserve. Venerable Wall Street investment bank Lehman Brothers files for bankruptcy protection after the US government refuses to bail it out. Rival Merrill Lynch hastily arranges to be swallowed [...]
The Agonist (Free subscription) | 30/09/2008
We are now down to five major US financial institutions that pose some degree of systemic risk to other banks, largely through their derivatives portfolios: Citibank, Bank of America, JP Morgan Chase, Goldman Sachs, and Morgan Stanley. All of these institutions are now commercial banks, subject to Federal Reserve oversight, and with immediate access to Fed liquidity. Goldman Sachs and Morgan Stanley,...
Banking Business Review (Free subscription) | 30/09/2008
JP Morgan Chase & Company has priced a $10 billion offering of approximately 246.9 million shares of its common stock at $40.50 per share.
Gawker (Free subscription) | 30/09/2008
It's not yet know whether the Washington Mutual on Avenue A in the East Village will be among 540 closed by acquirer JP Morgan Chase. But given that the WaMu's failure was the largest in U.S. history...
Civic Center (Free subscription) | 29/09/2008
This weekend we received a piece of junk mail introducing us to the "My WaMu Perks program for FREE." The fact that the sixth-largest bank in the United States had just been seized last Thursday as insolvent by the United States government and handed over to JP Morgan Chase Etc. lent the missive a surreal, absurdist touch. Arriving in the same day's mail was an offer from the criminally mismanaged...
TOTAL INFORMATION AWARENESS (Free subscription) | 29/09/2008
http://boztopia.com/?p=336 AIG , bailout , Bank of America , BoA , Citigroup , Countrywide , credit unions , Federal Reserve , JP Morgan Chase , Merrill Lynch , Office of the Comptroller of the Currency http://boztopia.com/?p=336#comments In this NYT article covering Wachovia’s consumption by Citigroup, the authors make a key point that has been overlooked of late: The sale would further concentrate...
Kiplinger Personal Finance (Free subscription) | 29/09/2008
Their money is safe and it will be business as usual as JP Morgan Chase takes over their accounts.
Baxojayz - Centricity (Free subscription) | 29/09/2008
Paul Newman, legendary actor, died from cancer on Sept 26th. He was 83. JP Morgan Chase acquired Washington Mutual Bank last week. Citigroup acquired Wachovia Bank this morning. The US Aircraft Carrier and Naval Museum, The Intrepid, is returning to New York City today after two years of renovations. Pirates are holding a shipment of Russian tanks and other weaponry for a ransom of $2 million off...
Mod-Blog (Free subscription) | 29/09/2008
Next up on the failing bank buffet is Wachovia which is now being sold to Citibank in a transaction the FDIC claims will not touch public funds, nor impact taxpayers. This solidifies Citibank, JP Morgan Chase, and Bank of America as the Triumvirate of Giants in American Banking. http://biz.yahoo.com/ap/080929/wachovia_citigroup.html'.v=1 Who is up next? Will we see an even bigger bank go down the tubes,...
Endless Gibberish Personal Finance (Free subscription) | 29/09/2008
As everyone already knows, Washington Mutual’s operations were bought out by JP Morgan Chase. The move that ultimately helped take down WaMu faster was when panicked depositors withdrew more than $16 billion in a 10 day period. Personally I believe a lot of people who withdrew money were idiots in that their money was FDIC [...]
