JPMorgan Has Massive Earnings And Still Pays A Large Legal Bill
The country's largest bank had almost $25 billion in revenues and almost $500 million in legal expenses in the first quarter. The bank's chief financial officer said it hoped to resolve the Justice Department's investigation into its foreign exchange trading practices "in the coming weeks."
How One "Sack Of Shit" Mortgage-Backed Security Came To Define The Financial Crisis
The history of SACO 2006-8, as told through court documents dating back more than six years, provides a view into how the mortgage-backed security industry was built up and spectacularly collapsed. For JPMorgan, it has become the mortgage-backed security from hell.
JPMorgan's Profits Decline 8% From Last Year, But Less Than Expected
Despite declines in revenues from mortgages and trading, the largest bank in the country beat out analysts' expectations with $6 billion in profits. In his first public comments since being diagnosed with throat cancer, CEO Jamie Dimon said he was "feeling great."
Two Least Popular (With Shareholders) JPMorgan Directors To Depart Board
While shareholder activists were not able to get CEO Jamie Dimon to give up his chairmanship, they almost got David Cote and Emily Futter kicked off the board of directors. The bank announced today that they will be leaving on their own.