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JPM

JPM, AXP ask taxpayers for money to pay back taxpayers

June 1, 2009

Almost like a Ponzi scheme, but not quite: JP Morgan and American Express plan to issue common stock in order to pay back their TARP funds. Essentially, the two firms are going to sell parts of themselves to taxpayers in order to increase their cash, which will then be used to buy back, yes, parts […]

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TIME: "It's over!"

April 14, 2009

TIME magazine has called it over - thanks for coming, everyone, and please watch your step as you disembark the ride. In an article titled "More quickly than it began, the banking crisis is over," the intrepid financial analysts at TIME lay out their argument: But, the great banking crisis of 2008 is over. It […]

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Bear Stearns is worth slightly less than A-Rod

March 16, 2008

Obviously the news of the hour is that J.P. Morgan is buying Bear Stearns for $236mm, or just $2 a share, meaning the firm is worth only a fifth of the value of its own midtown headquarters.  The Yankees paid more for their third baseman. More gravely, despite the WSJ headline, there is no "rescue" […]

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