Let's address two tragedies today.
The first is how Jamie Dimon & Co. and all the guilty big banks get away with murder.
The second is something I want to share with you because 50 years ago today, President John Fitzgerald Kennedy was assassinated. It isn't a conspiracy theory about who did it, but a likely theory about what happened and the conspiracy to cover that up.To continue reading, please click here...
The JPMorgan Settlement: $7 Billion Is Tax Deductible
The fact that this week's $13 billion JPMorgan settlement was a record between a U.S. company and the government is not the most notable part of this deal...
What's more shocking about this record-high settlement is that more than half of it could be tax-deductible.
Under terms of the $13 billion deal, JPMorgan Chase & Co. (NYSE: JPM) will pay $4 billion toward consumer relief. The remaining $9 billion goes to settle federal and state civil claims stemming from entities involved in the mortgage securities. The state of New York will receive $613.8 million, California $298.9 million, Illinois $100 million, Delaware $19.7 million, and Massachusetts $34.4 million, according to the Department of Justice.But now we find out that JPMorgan still has an ace up its sleeve...
$13 Billion in Fines Add to Long List of JPMorgan Settlements (NYSE: JPM)
This week, JPMorgan Chase & Co. (NYSE: JPM) agreed to a tentative $13 billion settlement over a government investigation into faulty mortgage loans the company sold to investors.
What most investors don't realize is that the company has been involved in 10 other settlements in the last two and a half years. Here's a rundown of JPMorgan's bad behavior since 2011.To continue reading, please click here...
Today's Stock Market News: JPM, NFLX, FSLR, AAPL
Today's stock market news focuses on earnings and the release of a backlog of economic data that was delayed due to the federal government shutdown.To continue reading, please click here...
Big Bank Earnings Today: Wells Fargo (NYSE: WFC) and JPMorgan (NYSE: JPM)
Two of the largest U.S. financial institutions kicked off third-quarter results for big bank earnings today, giving us a peek at how they fared amid tough times for both firms.
Wells Fargo & Co (NYSE: WFC) is in the midst of slashing headcount in its mortgage unit by some 1,800, and JPMorgan Chase & Co (NYSE: JPM) is tangled up in settlement talks with the U.S. Justice Department.
The short story on the banks' earnings: WFC earnings had to use a lot of "accounting gimmickry" to beat earnings-per-share (EPS) expectations, and JPM earnings show the first quarterly loss since Jamie Dimon came on board (he started in 2004 as chief operating officer, then moved to chief executive officer in 2005).To continue reading click here...
The Best Investments Before the Fed QE Taper
The answer to this question has just altered dramatically, and here's why.
U.S. President Barack Obama yesterday (Wednesday) nominated U.S. Federal Reserve vice chairwoman Janet Yellen to replace Ben Bernanke as Fed chief.Here's what to expect, so you can start planning ahead...
JPMorgan (NYSE: JPM) Talks $11 Billion Settlement; Q3 Earnings at Risk
JP MorganChase & Co. (NYSE: JPM) finds itself in front of regulators yet again for misdeeds.
Chief Executive Officer (CEO) James Dimon was in Washington yesterday (Thursday) attempting to broker a settlement over the bank's sale of substandard mortgages.
Dimon met with U.S. Attorney General Eric Holder about a possible $11 billion settlement in attempts to end criminal and civil charges over JPM's questionable mortgage practices. The U.S. Justice Department said earlier in the week it could file a lawsuit over one of the bank's pending mortgage cases.To continue reading, please click here...
The Chrysler IPO Is a Win-Win for Investors
Chrysler LLC has filed for an initial public offering (IPO), returning to publicly traded status after 15 years in the wilderness of global business uncertainty - and the Chrysler IPO comes at a great time for the company and for the whole American auto industry.
You see, not even five years ago, the Big Three were teetering on the edge of destruction and irrelevance, with dismal sales and empty coffers, running losses in the hundreds of millions on products that nobody wanted. The global financial crisis was the last nail in a coffin more than 10 years in the crafting.To continue reading, please click here...
Silver Prices Today Have Ben Bernanke to Thank
Thanks to that "party animal" Ben Bernanke, silver prices today are enjoying a nice bounce.
That's because the U.S. Federal Reserve chairman, along with the other members at the Federal Open Market Committee (FOMC) meeting yesterday, decided to keep the quantitative easing (QE3) flowing steady with $85 billion of bond buying per month.
After the Fed announcement, silver prices rallied by 5.5% to more than $23 an ounce. That's the precious metal's biggest one-day gain since June 28.To continue reading, please click here...
Don't Feel Bad If You Miss Out on the Twitter Stock IPO
The Twitter stock IPO is going to happen - it's no longer a question of if, but of when. The company is the latest social media concern to go public, and investors and commentators alike are looking forward to the festivities.
It remains to be seen whether or not NASDAQ can avoid the issues that it ran into with Facebook Inc. (Nasdaq: FB). That IPO was one of the biggest in history. The company had a market cap of $104 billion, unprecedented for an IPO.Read more...