Word: chasings
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Dates: during 2000-2009
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...houses. It went into effect this month, but analysts warn that it won't stop the rise in foreclosures. An April report from the Congressional Budget Office (CBO) estimated that banks would refinance only about 400,000 home loans, possibly fewer. And in recent congressional testimony, officials from JPMorgan Chase said only about $2.5 billion of its home loans (some 14,000 borrowers) of the $845 billion in home loans it services would qualify for the program. Worse, warns the CBO, nearly one-third of borrowers who qualify for the new plan will end up redefaulting on their mortgages anyway...
...take partial ownership of nine leading banks and offer to buy pieces of hundreds of others. On Oct. 13, the nine bank bosses, assembled in the Treasury's imposing boardroom, were each handed a piece of paper with the terms: $25 billion of preferred shares each from Citigroup, JPMorgan Chase, Wells Fargo and Bank of America. In return for the capital, the U.S. would collect a 5% dividend in the first five years. Although Wells Fargo chairman Richard Kovacevich resisted, Paulson gave the bankers no choice. It's partial nationalization, although in announcing the bailout Oct. 14, Paulson deliberately avoided...
...investors will get their first real look since the weekend at how much, if at all, credit has thawed. The rest of the week will bring a slew of economic reports - retail sales, consumer prices, housing starts - and corporate earnings, including those from financial firms such as JPMorgan Chase, Wells Fargo, Citigroup, Merrill Lynch and BlackRock. Will those reports send stocks soaring or back into the trenches? It's a great question - with an unknowable answer...
...mood around New York City, as among mom-and-pop investors around the country, went from worry to confusion to, at times, cautious optimism, only to circle back to fear. At a panel discussion on Friday on the seventh floor of the New York Stock Exchange, JPMorgan Chase CEO Jamie Dimon was asked how much more credit crisis is left to play out. "Nobody really knows," he said. "Clearly we're in the panic stage of unreasonable behavior." At the Connecticut offices of UBS, nervous colleagues passed around a joke about why the market was like a divorce but worse...
...sighted at approximately 10:30 yesterday morning at Quincy House by Chase Russell ’11 and Brian P. Hill...