Best CEOs Of The Decade (PHOTOS, POLL)
The 2000s certainly seem like a ghastly decade. The era's already fabled financial debacles -- among them, Enron's bankruptcy, the burst of the tech b...
The 2000s certainly seem like a ghastly decade. The era's already fabled financial debacles -- among them, Enron's bankruptcy, the burst of the tech b...
washingtonpost.com | Steven Pearlstein | Posted 12.16.2009 | Business
As far as I can tell, top administration officials are fixated on voter rage over bank bailouts and the resulting hit to the president's poll ratings....
Huffington Post | Ryan McCarthy | Posted 12.15.2009 | Business
What a difference a day makes. On the heels of President Obama's private confab with Wall Street executives, the Wall Street Journal reports that ...
npr.org | Weekend Edition Sunday | Posted 12.14.2009 | Business
The Treasury Department has started dispatching what it calls foreclosure "SWAT teams" to big banks to take a hard look at their operations. ...
AP | TOM RAUM | Posted 12.14.2009 | Business
WASHINGTON — President Barack Obama implored top bankers Monday to help keep the fragile recovery from faltering by boosting lending to small bu...
AP | BY STEPHEN BERNARD | Posted 12.14.2009 | Business
NEW YORK — Citigroup Inc. and Wells Fargo & Co. said Monday they would repay their government bailout loans, freeing them from close regulatory ...
AP | MARTIN CRUTSINGER | Posted 12.11.2009 | Business
WASHINGTON — The Treasury Department has received $936.1 million in the sale of warrants it had received from JPMorgan Chase & Co. as part of th...
HuffingtonPost.com | Shahien Nasiripour and Jeff Muskus | Posted 12.11.2009 | Business
In a close vote, the House of Representatives Friday afternoon passed a financial reform bill intended to re-regulate Wall Street and increase protect...
Jim Luce | Posted 10.28.2009 | New York
Vargas Llosa speaks about Barack Obama's Nobel Prize, the state of literature, inter-American relations and politics.
Fortune's Stanley Bing | Posted 10.14.2009 | Business
The Dow is about to go over 10,000 again. Won't that be nice? Yay for those cockeyed optimists! They make the world go 'round!
AP | STEPHEN BERNARD | Posted 10.14.2009 | Business
NEW YORK — JPMorgan Chase & Co. reported strong third-quarter earnings Wednesday as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future.
JPMorgan, the first of the big banks to report earnings for the July-September period, reported a $3.59 billion profit but also said it roughly doubled the amount of money it set aside for failed home and credit card loans in the quarter.
The bank's stock rose on the news, helping to lift the overall market and send the Dow Jones industrials above 10,000 for the first time in a year. Still, JPMorgan's performance shouldn't be taken as a forecast for how well other banks did during the quarter. Many financial companies don't have such big investment banking operations, which includes trading of stocks and bonds and allowed JPMorgan, the nation's largest bank by assets, to overcome its loan losses.
Bart Narter, a senior vice president at consulting firm Celent, said JPMorgan's results showed a clear trend that "Wall Street is picking up quite smartly, while Main Street continues to suffer."
Banks including JPMorgan have predicted for some time that their loan losses would keep rising. And in JPMorgan's earnings statement, CEO Jamie Dimon confirmed that this trend continues.
Raymond J. Learsy | Posted 10.14.2009 | Business
It is scandalous that those in government vested with the responsibility of financial oversight have permitted a culture of "heads they win, tails we lose" to take hold and to grow into a financial Frankenstein.
Michael Moore | Posted 10.21.2009 | Entertainment
Tonight, at the Venice Film Festival, I will premiere my new movie, "Capitalism: A Love Story." After 16 months of production, I am proud to present this work of mine to you. It is unlike anything you'll see this year.
Reuters | Posted 08.19.2009 | Business
U.S. President Barack Obama's chief of staff, Rahm Emanuel, has declined an invitation to attend a board meeting of JPMorgan Chase & Co, a White House...
AP | JIM KUHNHENN | Posted 08.05.2009 | Business
WASHINGTON — They are the biggest of the big _ the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administra...
AP | DANIEL WAGNER | Posted 07.18.2009 | Business
WASHINGTON — A key government effort to ease the credit crisis reached a milestone Wednesday as 10 large banks said they had repaid a total of $...
AP | DANIEL WAGNER and SARA LEPRO | Posted 06.06.2009 | Business
WASHINGTON — Leaked results of the government's stress tests of 19 large banks are boosting investor confidence in the financial sector. America...
Washington Post | Binyamin Appelbaum | Posted 05.18.2009 | Business
ix months after Washington rescued Wall Street, exasperated banks insist they want to leave the lifeboat. ...
Financial Times | Francesco Guerrera and Krishna Guha | Posted 05.03.2009 | Business
US banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JPMorgan Chase, are considering buying toxic assets...
Bloomberg | Elizabeth Hester | Posted 04.11.2009 | Business
March 11 (Bloomberg) -- Jamie Dimon, chief executive officer of JPMorgan Chase & Co., said the U.S. can rescue its banking system by year-end if U.S. ...
Bloomberg | Matthew Leising and Elizabeth Hester | Posted 04.03.2009 | Business
March 3 (Bloomberg) -- JPMorgan Chase & Co. managed to generate $5 billion in profit during the worst year in Wall Street history by trading over-the-...
AP | ALAN ZIBEL | Posted 03.16.2009 | Business
WASHINGTON — The biggest players in the mortgage industry are halting home foreclosures while the Obama administration develops its plan to help...
Bloomberg | Linda Shen and Bradley Keoun | Posted 03.23.2009 | Business
Feb. 12 (Bloomberg) -- Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide after enduring yesterday's Congressional hearing tha...
AP | MARCY GORDON, SARA LEPRO and MADLEN READ | Posted 10.26.2008 | Business
NEW YORK — JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift's banking assets after WaMu was se...
John Tepper Marlin | Posted 07.26.2008 | Business
Phil Gramm designed the 1999 takedown of the Glass-Steagall Pillar. It's just too bad, if you support Obama, to see such a juicy target removed.
Huffington Post | Grace Kiser | Posted 12.24.2009 | Business