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JPMorgan sued for ‘abetting’ Madoff

NEW YORK — The trustee charged with recouping assets for victims of Wall Street fraudster Bernard Madoff said Thursday he was seeking $6.4 billion from JPMorgan Chase for supporting the scam. In a statement, Irving Picard said a suit was filed in a New York federal bankruptcy court seeking to…

Lawsuits: Banks foreclosed after deciding payments too small

Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Chase & Co. offered a plan that reduced their payments, they figured they could use the extra cash and signed up. The Cascos say they never missed a subsequent payment,…

JPMorgan profit leaps nearly 80%

NEW YORK (AFP) – US banking giant JPMorgan Chase on Thursday announced a net profit of 4.8 billion dollars in the second quarter, up nearly 80 percent from the same period last year. Reporting solid performance across most business areas, the New York-based bank’s profits included 1.5 billion dollars that…

Post-bailout, ‘Obama’s favorite banker’ turns to GOP

When it comes to financial matters, it’s just good business to consider the enemy of your friend a potential ally in the future. Wednesday’s Washington Post reports, “Commercial banks and high-flying investment firms have shifted their political contributions toward Republicans in recent months amid harsh rhetoric from Democrats about fat…

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