Jamie Dimon Knew Subprime 'Could Go Up In Smoke'; Now He's Worried About An Artificial Economy 'Fueled by Government Deficit Spending' [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Yahoo! Finance
In advance of the crisis, Jamie Dimon realized that "underwriting standards were deteriorating across the industry," with late payments on subprime loans rising. In late 2006, the bank led his firm to exit Wall Street's hot subprime business, starting with a frantic call made to J.P. Morgan's vacationing Chief of Securitized Products where he said, "I really want you to watch out for subprime! We need to sell a lot of our positions. I've seen it before. This stuff could go up in smoke!” Don't Miss: Invest alongside execs from Uber, Facebook and Apple in this wellness app Transforming a $5.6 TRILLION dollar industry Join the elite. Invest in Epic Games and own a piece of the $17 billion Fortnite empire By getting out of the soon-to-be toxic products, J.P. Morgan was able to go on the offensive when other banks pulled back too late or were forced into bankruptcy. J.P. Morgan 's stock has risen nearly 260% from its pre-global-financial-crisis peak. Reflecting on the recess
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JPM
News
- JPMorgan says its Russia assets may be seized after lawsuits in Russia, US [Yahoo! Finance]Yahoo! Finance
- JPMorgan says its Russia assets may be seized after lawsuits in Russia, US [Reuters]Reuters
- JPMorgan’s ETF head poached by Goldman Sachs [FT.com - Mergermarket]FT.com - Mergermarket
- JPMorgan’s ETF head poached by Goldman Sachs [Financial Times (FT.com) (UK)]Financial Times
- JPMorgan’s ETF head quits abruptly after presiding over rapid growth [FT.com - Mergermarket]FT.com - Mergermarket
JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 5/1/24 - Form 424B2
- 5/1/24 - Form 424B3
- 5/1/24 - Form 424B2
- JPM's page on the SEC website