J.P. Morgan Chase bailout bio
J.P. Morgan Chase is a New York based financial services company with worldwide operations. J.P. Morgan Chase is the umbrella brand that incorporates numerous subsidiary activities. Subsidiaries also operate under the Chase and WaMu brand names. In 2000, J.P. Morgan & Co. merged with Chase Manhattan Corp., in effect combining four of the largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, Chemical and Manufacturers Hanover) into one firm called J.P. Morgan Chase & Co. These mergers culminated in July 2004 with the joining of J.P. Morgan Chase & Co. and Bank One Corp. to form today’s JPMorgan Chase &Co.
Along with Wells Fargo, Citigroup, and Bank of America, J.P. Morgan Chase received $25 billion as one of four of the original nine U.S. banks to receive money from the Treasury under its Capital Purchase Program.
J.P. Morgan Chase’s hedge fund unit is the largest in the United States. According to the 2008 Fortune 500 ranking of the largest U.S. corporations, J.P. Morgan is the third largest among commercial banks, and the 12th largest among all U.S. corporations.
Financial Documents | Federal contracts | Lobbying reports
Political Contributions | Related Articles | Bank Bio Chart
12-31-07 2007 JPMorgan Annual Report
Center for Responsive Politics (Last Accessed 11/14/08).
The History of J.P. Morgan Chase & Co. (J.P. Morgan Chase)
November 13, 2008 J.P. Morgan to set aside another $2.4 billion in loan loss reserves: Dimon (Financial Week)
November 13, 2008 JP Morgan sees more dividend cuts at mid-sized US banks (Reuters)
November 12, 2008 How Wells Fargo Raised $12.65 Billion Amid a Market Meltdown (Wall Street Journal)
November 11, 2008 Banks’ Accounting Gets Murkier (Wall Street Journal)
November 11, 2008 Fed Delays Its Big Plan to Shore Up Money Funds (Wall Street Journal)
November 6, 2008 J.P. Morgan Chase says it prevented 250,000 home foreclosures (MarketWatch)
November 1, 2008 JPMorgan Chase expands housing rescue plan (CNN)
October 5, 2008 Like J.P. Morgan, Warren E. Buffett Braves a Crisis (NY Times)
March 5, 2007 J.P. Morgan is largest U.S. hedge-fund firm (MarketWatch)
Information obtained from Taxpayers for Common Sense.
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Federal Equity Investment |
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Total Revenue |
$71.4 billion (2007) |
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Net Revenue |
$15.4 billion (2007) |
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Number of Employees |
228,452 |
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Corporate Headquarters |
New York, NY |
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Business Sector |
Banking |
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Officers and Directors |
James Dimon, Chairman of the Board, |
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Corporate Website |
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Executive Compensation |
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Tags: chase manhattan corp, hedge fund, J.P. Morgan, j.p. morgan chase, wamu
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July 17th, 2009 at 12:53 pm
…one of four of the original nine… WTF?!
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