Archive for Christopher
Christopher (Chris) Markoch is a professional copywriter with over 18 years of experience writing for and working with Fortune 500 companies. Over the last five years, his client list has expanded to include banking and financial services clients.
JPMorgan Chase (NYSE: JPM) Executive Leads Charge For Raising Debt Ceiling
Matthew Zames, chairman of a Treasury Department advisory panel and a managing director at JPMorgan Chase & Co. (JPM), said failure to raise the nation’s $14.3 trillion debt limit could be “catastrophic.” By now, you’ve heard of the debt ceiling. It’s basically the ability of the Treasury Department to issue new bonds to finance the [...]
Look Out Below! Citigroup (C) Leads the Big Banks in Reporting Lower Loan Balances
Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), and JPMorgan Chase (JPM) all reported lower outstanding loan balances in the first quarter. CNNMoney is reporting that all told, average loans outstanding at the four banks dropped 7% from a year earlier – a decline of $210 billion — even as deposits rose 5%. Citigroup [...]
Naming Names: Judge Alledges JPMorgan Chase (NYSE: JPM) Execs Knew About Madoff
CNNMoney.com is reporting that the federal bankruptcy court judge presiding over the Bernard Madoff case has revealed the JPMorgan Chase (JPM) employees who allegedly suspected they were doing business with a Ponzi schemer. JPMorgan employees John Hogan and Matt Zames suspected that Madoff was operating a scam long before his December 2008 arrest, according to [...]
Bank of America (NYSE: BAC) Posts Lower-than-Expected Earnings, Increases Reserves for Mortgage-Related Costs
Trying to brush aside their unexpected loss at the end of last year, Bank of America (BAC) posted a first-quarter profit Friday. In the report, BAC reported a profit of $2 billion, or 17 cents a share, for the first quarter. That compares with a year-ago profit of $3.2 billion, or 28 cents a share. Revenue [...]
J.P. Morgan Chase (NYSE: JPM) Offers Mixed Bag in Earnings Report
The good news in J.P. Morgan Chase’s (JPM) first-quarter earnings report came from strong results in their credit card, commercial banking, and asset management businesses. In addition to a first-quarter profit that shattered expectations, the bank reported deposit growth of 4%, a 14% lift in mortgage originations and a 21% decrease in non-performing loans. The [...]
JPMorgan Chase (NYSE: JPM) CEO Dimon Receives Pay Raise of Over 50%
JPMorgan Chase (JPM) announced in regulatory documents that it increased the 2010 compensation package for CEO Jamie Dimon by more than 50%. As reported by Zacks, Mr. Dimon’s total compensation for 2010 came in at $23 million. That compares to a package totaling $15.2 million in 2009. After adjustments per SEC guidelines that only allow [...]
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon Warns Against “Complicated Regulatory” Environment
As chief executive of JPMorgan Chase, you would expect that Jamie Dimon might not be “all in” when it comes to the new financial regulation coming out of Washington. Still, it was a little surprising to hear him launch into what could be seen as a barrage of complaints about how the regulations could be [...]
U.S. Bancorp (NYSE: USB) Says Discount Window Was the Most “Economic Alternative” at Times
In a twist on a phrase, “borrowing” it could be said is in the eyes of the beholder. At least that’s the word coming from U.S. Bancorp (USB). The Federal Reserve has released information regarding which of the nation’s banks borrowed from the Federal Reserve’s discount window. Fearing the negative public perception, and perhaps a [...]
Customers of JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Capital One (NYSE: COF), and US Bancorp (NYSE: USB) May Have E-Mail Addresses Hacked
Customers of some of the nation’s largest companies, including many of the nation’s largest banks, may begin to receive a flood of unwelcome mail due to a security breach at a national third-party email fulfillment company. JPMorgan Chase (JPM), Citigroup Inc. (C), US Bancorp (USB) were among the companies that were reporting that some of [...]
Goldman Sachs (NYSE: GS) CEO Blankfein Doubles Bonus in 2010.
It’s hard to say that things have really changed on Wall Street when a bad year for Goldman Sachs (GS) results in CEO Lloyd Blankfein receiving a total compensation of $18.6 million. In an article on Street Sweep, Colin Barr reported about the compensation package, which Goldman reported in its annual proxy statement filed on [...]
Will JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) Impose a Debit Card Limit?
Well maybe that need to decline overdraft protection wasn’t really necessary after all. Imagine being out for dinner with your family and having your debit card declined. Not because of insufficient funds. But because you decided to have an appetizer that put your total bill over $50. That could be a situation many customers will [...]
Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) State Foreclosure Penalties May Have “Material” Impact
Bloomberg is reporting that Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) are saying they may have to pay “material” monetary penalties stemming from the ongoing investigation into foreclosure practices and mortgage servicing. The two banks, along with Ally Financial, made the disclosure in their annual reports. The payments may [...]
Citigroup (NYSE: C) Finding a Line of Buyers for CitiFinancial Unit
As part of an ongoing effort to restructure its business operations, Citigroup (C) has put CitiFinancial, its consumer finance unit, up for sale. And according to a report by Bloomberg, there is no shortage of potential buyers. The list of prospective companies is headlined by the Spanish bank – Banco Santander SA (STD). BlackRock [...]
Bank of America (NYSE: BAC) Tests NFC Mobile Payments on BlackBerry Smartphones
In an indication of how smartphones are becoming an indispensable part of our daily lives, Bank of America (BAC) is conducting a trial that will allow select customers to test mobile payments on Blackberry smartphones in Atlanta, New York and San Francisco. The program, called the “Mobile Wallet”, was launched in the fall with tests [...]
JPMorgan Chase (NYSE: JPM) Projecting Up To $4.5 Billion in Legal Losses
JPMorgan Chase (JPM) may be coming soon to a courtroom near you. And that’s not good news for the second-biggest U.S. bank by assets. In coming years, the bank is anticiating legal losses could exceed what they have set aside by as much as $4.5 billion. In 2010, JPMorgan’s legal costs soared to $7.4 billion from [...]
Quaint notion, but the only thing i fear more than the Fed is whatever monstrocity replaces it. As for transparency, ...
All their employees getting laid off with no chance of getting called back in Middlebury Indiana sure don't see any ...
What is wrong with this picture. Everyone has a price of $14-15, but these clowns come out with $4-5. ...