A key step was taken yesterday in moving the country beyond the housing crisis, a crisis that triggered the worst recession in decades and whose lingering effects continue to hinder the nation’s nascent recovery. The deal, which …
JPMorgan
White House Announces $25 Billion Mortgage Settlement
This post was updated at 1:25pm
It’s been a long slog, but government officials and representatives from major U.S. banks have come to terms on a settlement that would put an end to federal and state investigations into …
At least some banks are losing money
First Goldman Sachs reports earnings of $3.2 billion for the quarter. But then, a few minutes later, Citigroup tells the world that it sort of made a little money but also sort of lost a lot of money (that is, it reported net income of $101 million, but said that, after dividends to preferred shareholders and its exchange of the …
Retail sales down. JPMorgan profits up. Wall Street pay up. Hmmmm
The headlines this morning were a catchy juxtaposition: “Retail sales drop on fall in autos.” “JPMorgan profits surge six fold.” Oh, and “Wall Street on track to award record pay.”
The retail sales decline was actually a just a knock-on effect of the expiration of cash for clunkers. Retail sales excluding autos were up 0.5% on the …
