(Reuters) - Goldman Sachs GS has been questioned by chiefs of rivals Bear Stearns Cos and Lehman Brothers LEH about speculation that the securities firm had a role in putting pressure on their firms' stocks, the Wall Street Journal said on...
NEW YORK (Reuters UK) - The U.S. government is considering bringing further criminal charges in the case involving two former Bear Stearns executives indicted last month related to the collapse of two hedge funds they oversaw, a federal prosecutor said on Friday. In a court...
NEW YORK (Reuters) - JP Morgan Chase & Co JPM Chief Executive Jamie Dimon said U.S. regulators should investigate whether people betting on Bear Stearns' stock falling deliberately brought down the investment bank. "Where there is smoke, there's fire," Dimon said in an...
NEW YORK (Reuters) - JP Morgan Chase & Co JPM is three quarters of the way through the toughest part of its integration of Bear Stearns and has halved that bank's risk-weighted assets, according to Chief Executive Jamie Dimon. "We've had all the...
By Michael Flaherty HONG KONG (Reuters UK) - JPMorgan JPM says it has tapped Bear Stearns' former Asia CEO to run its sovereign wealth group, joining other Wall Street banks in seeking more business from state-run funds from the Middle East and Asia. JPMorgan completed the...
The most interesting thing about the Federal Reserve's comments on the Bear Stearns bailout is how uninteresting they are. According to the March 14 minutes: "Board members agreed that, given the fragile condition of the financial markets at the time, the prominent position of Bear Stearns in...
By Elinor Comlay NEW YORK (Reuters) - JPMorgan Chase & Co JPM posted a smaller-than-expected drop in earnings on resilient stock and bond underwriting revenue, sending its shares surging, but the company cautioned that the mortgage market and the economy are ...
You couldn't have two more different regulators and policy-makers. In one corner, you have Henry "Hank" Paulson, Secretary of the Treasury. The former head of Wall Street titan, Goldman Sachs, he is known as a tough, bald-headed earth-shaker. In others words, he's a shark. ...
By Mark Felsenthal WASHINGTON (Reuters) - The U.S. Federal Reserve worried about exposing its balance sheet to credit risks when it launched a lending facility for top bond dealers in an emergency move in mid-March, minutes of two Fed meetings released...
A rundown of recent financial sector news: Lehman Brothers needs capital, and some are saying it could be the next Bear Stearns; others think it's the next Enron. Bear Stearns Merchant Banking goes independent. Or was it always? Rising credit card delinquencies and debt point...
What will happen to Bear Stearns? Should JP Morgan and the feds have minded their own business? Why do we feel so frightened? Only the future can tell.
Countrywide, Bear Stearns: Failures in GovernanceRE: Countrywide, Bear Stearns: Failures in GovernanceSeems what's missing is accountabilty.CKunbelievable!I am absolutely disgusted with government bailouts due to bad management, and in some cases, possibly criminal actions, by corporate officers and business leaders!Yes, NOT having the bail out will be hard for some people,...
We've now seen two financial firms fail in the subprime mortgage mess--Countrywide Financial and Bear Stearns. What do they share in common? Spectacularly bad corporate governance. There's been a long-running debate among shareholder activists and corporate leaders whether "good governance" equals "good business," or merely consists of...
You get the sense that regulators were working all weekend long alongside hundreds of workers at JPMorgan and Bear Stearns to hammer out what by any standards is a historic takeover. The idea was to contain the equivalent of a toxic spill in world financial markets. So why doesn't anyone...
It's often said that business behavior is either motived by fear or greed. For Bear Stearns - the Wall Street bank facing rumors of a liquidity crisis that proved self-fulfilling - the prime culprit forcing it into a government bailout seems to be fear. But I wonder. ...
Here's the tricky thing about keeping secrets on Wall Street: It's terrific fun until it isn't. Just ask Alan Schwartz, the CEO of punch-drunk Bear Stearns. His firm was the first domino to topple, setting off a cascading chain of events that has spread from mortgages, to derivatives, to...
eBay, Google's largest single advertising customer, has dropped all of its advertising from the search giant. The decision came after Google's blatant plan to lure customers away from eBay by hosting a lavish Google Checkout promotional party coinciding with the annual eBay Live convention. Google Checkout competes with...
NEW YORK -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it completed the previously announced internal merger transaction, as a result of which each share of The Bear Stearns Companies Inc.'s 6.15% Cumulative Preferred Stock, Series E, 5.72% Cumulative Preferred Stock, Series F and 5.49% Cumulative Preferred Stock,...
NEW YORK -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it intends to take several steps over the next several weeks related to the integration of the businesses of The Bear Stearns Companies Inc. that will result in the assumption of Bear Stearns' preferred stock and debt securities...
