How is it possible that a straight-talking grandmother from the Midwest can't win over Congress to run an agency created to help consumers with their finances?
FORTUNE -- Which one of his constituents was Representative Patrick McHenry (R-NC) acting in the interests of when he attacked Elizabeth Warren on Tuesday? Was it the broke homeowner in the Blue Ridge Mountains? Or the laid off textile worker in Rutherford County? Somehow I MOREDuff McDonald, Contributing Editor - May 26, 2011 10:19 AM ET
Who says there's no wage growth in the United States?
Bankers at J.P. Morgan, the investment banking unit of JPMorgan Chase (JPM), are in line for a 34% raise this year, if the bank keeps paying at its torrid first-quarter clip.
The investment bank set aside $3.3 billion for compensating its 26,494 workers in the first quarter. That's equivalent to $124,330 for the quarter and projects to $497,320 for the year.
That compares MOREColin Barr - Apr 13, 2011 8:36 AM ET
Let's say you're a giant bank with an extra 400 grand lying around. What to do with it?
You could pay six workers the median family income in your home state of New York, perhaps. Or you could pick up the moving expenses for your CEO, who made $20.8 million last year and $58 million over the past three – not counting the $2 million he just cleared on the sale MOREColin Barr - Apr 8, 2011 12:10 PM ET
Big bank stocks took off after the Fed gave the nod to some long-awaited dividend hikes.
JPMorgan Chase (JPM) was the first out of the gate, boosting its quarterly payout to a quarter from a nickel and setting up a $15 billion stock buyback plan to boot. Wells Fargo (WFC) and U.S. Bancorp (USB) quickly followed suit. Shares of all three rose 3% or so.
The rally came after the Federal Reserve said Friday it completed its MOREColin Barr - Mar 18, 2011 11:43 AM ET
Twitter co-founder Biz Stone understands nuance. Reuters does not (at least not today).
The news giant (where I used to work) today has been hyping an exclusive interview with Stone, in which he says that Twitter has no IPO plans in the near future. Then there is this:
Asked about a Financial Times report last week that said a technology fund from JPMorgan was in talks to buy 10 percent of Twitter, MOREDan Primack - Mar 3, 2011 10:17 AM ET
Think you've got problems? Check out JPMorgan Chase's legal docket.
The second-biggest U.S. bank by assets said Monday that its legal losses in coming years could exceed the amount it has already set aside by as much as $4.5 billion.
That makes JPMorgan Chase (JPM), by its own assessment, the bank with the biggest legal headaches coming up, unseating Citi (C), which last week said its own costs could exceed reserves by MOREColin Barr - Feb 28, 2011 5:04 PM ET
Running a slush fund for Bernie Madoff was nice work for JPMorgan Chase while it lasted.
A new academic paper estimates the bank reaped nearly $1 billion in pretax profits over two-plus decades by servicing a checking account at the center of the giant Ponzi scheme.
The paper, by Linus Wilson of the University of Louisiana at Lafayette, says JPMorgan (JPM) earned $907 million on the Madoff account between 1986, when Madoff MOREColin Barr - Feb 28, 2011 1:44 PM ET
The recession is officially over for Jamie Dimon.
The JPMorgan Chase (JPM) CEO just got a $17 million stock bonus for 2010. That is the richest reward for a Wall Street chief so far this bonus season and pushes Dimon's pay back toward the levels that prevailed before the financial meltdown of 2008.
The big payday comes after the bank posted a 48% profit gain for the past year. Investors are now waiting for JPMorgan to MOREColin Barr - Feb 18, 2011 10:09 AM ET
We learned a lot last month when Goldman Sachs (GS) tried raising over $1 billion from wealthy clients to invest in Facebook. Stuff about SEC marketing policies, shareholder limits and the social network's underlying financials. Above all else, however, we learned the following equation:
Big bank + social media company + money = Media hyperventilation
Today we have our second "proof," with news that JPMorgan Chase (JPM) is raising a fund that MOREDan Primack - Feb 14, 2011 11:53 AM ET
Even America's favorite banker can't win a shootout with the U.S. military.
So it is with JPMorgan Chase (JPM) chief Jamie Dimon. He strode into the foreclosure fiasco last fall with guns blazing, as usual, claiming Chase wouldn't be tarnished by the banking industry's mortgage misbehavior.
But Dimon has been silenced by the news this week that Chase improperly foreclosed on 14 military families and milked 4,000 others of $2 million in MOREColin Barr - Jan 20, 2011 6:29 AM ET
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