JPMorgan Chase Warrants Auction Biggest in US History
In what will be the largest public offering of warrants to ever hit US markets, 88.4 million warrants to purchase shares of JPMorgan Chase at $42.42 will go on sale this Thursday.
JP Morgan Chase Expands on Its Loans
During the first week of October 2008, JP Morgan Chase, one of the oldest and biggest New York financial institutions, became the latest major banking institutions to expand on its loan modification program in the hope of helping their borrowers avoid foreclosure. To understand how JP Morgan Chase became riddled with troubled mortgage loans despite its reputation as an investment company, it is important to look back on its recent history and acquisitions.
The Year That Was 2008: A Rundown of the Major Financial Events That Rocked the Nation
Even with the New Year revelry still ringing in our ears, one can never fully take on the challenges that lie ahead in 2009 without reflecting on the year just gone. Certainly, the year 2008 will go down in history as the start of one of the country’s worst recessions since the Great Depression in the 1940’s. Bankruptcies plagued banks and investment houses, and many industries, most notable of which are the finance and auto industries, were now pinning their hopes of surviving more on the bailouts that the government was handing out like candy, than on the likelihood that the economy would put itself right in the near future.
The US in Recession: Looking Back and Ahead
While a number of government officials still would like to avoid using the seemingly taboo "R" word (recession) in referring to the state of the US economy, a number of factors would otherwise indicate that in fact, it has been in that condition for almost a year now, without showing any signs of letting up. Plummeting stocks, rising unemployment, investment houses, once thought to be bastions of high finance, closing shop one after another, and a general feeling of alarm among the American people only support the inescapable fact that indeed, the US is facing an economic crisis such that has not been known since the Great Depression in the 1930’s.
The guns will be melted down into hangers to be used at dry cleaners.
Brooklyn and Chicago recently used J.P. Morgan prepaid debit cards in successful campaigns to take firearms off the streets. The gun buy back programs were sponsored by local law enforcement officials who offered citizens prepaid debit cards for working guns, no questions asked. More than 7,500 firearms were collected at community churches and other turn-in sites in the two cities. A recent program sponsored by the New York Police Department and the Brooklyn district attorney's office netted almost 700 guns. People who dropped off guns received a $200 J.P. Morgan prepaid debit card and a $20 card for BB guns and air pistols. Overall, 697 functioning guns were collected, including 204 revolvers, 193 pistols, 226 rifles and shotguns and 12 assault weapons. The guns will be melted down into hangers to be used at dry cleaners. Read full article here.
