Collateralized loan obligations are back, even in the most unlikely places.
FORTUNE -- The former office of JPMorgan Chase's London Whale is diving back into risk.
According to several people familiar with the deals, JPMorgan's London chief investment office, which last year lost more than $6 billion betting on credit derivatives, is in the process of inking deals to buy significant portions of collateralized loan obligations, which are structured bonds that are backed MOREStephen Gandel, senior editor - Jul 18, 2013 1:06 PM ET
Is the Depression-era bank legislation the right solution for today's too-big-to-fail problems?
FORTUNE -- When banks behave badly, leave it to the Glass-Steagall Act to save the day.
Such has been the mantra in the years following the 2007-2008 financial crisis -- the latest from U.S. senators Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.). The Depression-era law prevented commercial banks from also taking on business ordinarily done at investment banks. Its repeal MORENin-Hai Tseng, Writer - Jul 15, 2013 10:23 AM ET
Profits bolstered by lower loan losses and a better stock market.
FORTUNE -- Citigroup, the No. 4 U.S. bank by assets, said it earned $4.2 billion in the second quarter. That's a good bottom line: growth of 44%, and, at $1.34 per share, 14% ahead of estimates.
Much of the gain, nearly $900 million, came from lower losses from bad loans. The bank said the volume of delinquent loans in its core MOREStephen Gandel, senior editor - Jul 15, 2013 8:39 AM ET
Fed votes to up the amount of capital banks have to have to cover loan losses, but leaves rules for subprime mortgages mostly in place.
FORTUNE -- The Federal Reserve voted Tuesday to approve rules that will require banks to hold more capital against the loans they make or risky assets they buy. The rules, proposed in the Dodd-Frank banking reform law, are a result of the financial crisis, when a MOREStephen Gandel, senior editor - Jul 2, 2013 10:18 AM ET
Citigroup, Goldman Sachs, and Morgan Stanley preach caution, even as their bankers return to pre-crisis deals.
FORTUNE -- On Citigroup's recent conference call, CEO Michael Corbat said he was still worried about the economic recovery and the market.
"Looking ahead, I believe the environment is going to remain challenging," Corbat told his bank's investors. "Europe's issues, as the situation in Cyprus shows, still have the potential to rattle the markets and impact MOREStephen Gandel, senior editor - Apr 24, 2013 10:15 AM ET
Goldman Sachs and JPMorgan get the go-ahead from the Federal Reserve for their capital plans - but with conditions.
Correction: March 15, 3:55 PM.
FORTUNE -- The Federal Reserve approved the capital plans of 16 of the nation's 18 largest banks on Thursday as part of the final leg of their required stress tests.
Ally Financial, the former finance arm of General Motors (GM), and BB&T (BBT), a regional bank based in Winston-Salem, MOREStephen Gandel, senior editor - Mar 14, 2013 6:49 PM ET
A year ago CEO Jamie Dimon was still talking growth for his mega-bank.
Update: 2/27/13, 10:30 AM.
FORTUNE -- An encounter with a whale can really change a fella.
A year ago, at JPMorgan's investor day, CEO Jamie Dimon said he believed his mega-bank was still too small. He said his firm would continue hiring and opening branches, even as the economy remained slow.
This year, it appears Dimon's tune has changed.
JPMorgan Chase (JPM) MOREStephen Gandel, senior editor - Feb 26, 2013 12:28 PM ET
Latest proposal calls for board to investigate spinning off units.
FORTUNE -- It's time for parts of Citigroup to be put to sleep.
That's the opinion of a group of shareholders that includes a fund managed for Benedictine nuns and a union pension plan. Recently, the two investment funds along with an asset manager Trillium Asset Management filed a proposal with Citi that calls for the bank to be broken up. The MOREStephen Gandel, senior editor - Nov 15, 2012 2:06 PM ET
After Hurricane Sandy recedes, Corbat should consider a storm of deals for Citi.
FORTUNE -- Citigroup should dump its junk.
That's the advice of Goldman Sachs analyst Richard Ramsden for Citi CEO Michael Corbat, who took over the job two weeks ago. Ramsden says that delinquent home loans and other bad assets left over from the financial crisis have proven to be 10 times more toxic to Citi than to its rivals. MOREStephen Gandel, senior editor - Oct 31, 2012 11:31 AM ET
Michael Corbat is shifting from running Citi's bad bank, to running one that is still in not great shape.
FORTUNE -- Citigroup's new CEO Michael Corbat was an ivy league football star, who turned heads in the Harvard cafeteria.
"He was extremely well rounded," says Andrew Doctoroff, a fellow Harvard student, who wrote about the then All-Ivy offensive lineman in The Harvard Crimson in 1982. "He kept his athletic prowess in perspective."
Even MOREStephen Gandel, senior editor - Oct 16, 2012 4:34 PM ET
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