JP Morgan takes a dive by 35%

It seems that none of the banks are immune from the credit crisis, with more and more banks coming out and declaring their losses, well sort of. Today, we saw the JP Morgan declare a loss of 35% as a result of bad housing loans.

The mortgage issue seems to be like a ‘blob’ that just keeps on growing and growing, swallowing the healthy profits of many a bank and institutions alike. More and more people are defaulting on their mortgage payments and this is having a kind of a free for all effect on all the world economies alike. Most of the share markets are all exposed in one form or the other to whatever takes place at Wall Street and this week has clearly shown that.

The jitters in the market is going to go on for some time to come, as we can see from the indices all across Europe and Asia go into a tizzy as soon as the reports of the ‘Wall street shakedown’ reached them.

CEO Jamie Dimon attributed this dismal performance by JP Morgan to the worse than expected results in the home equity front. But at least they can take heart in the fact that their losses are not as bad as that of the Citigroup which is now currently looking at the Middle East for a healthy infusion of cash. 'Let us take heart that we do not have to beg as of yet, we still have the stuff’ must indeed be going through Jamie Dimon’s mind right now!

Technorati:JP Morgan,united states, economy,citigroup,dollar,asia,

JP Morgan goes 200% on India!

JP Morgan is looking to double its investment in India and has invested its capital of around 700 million$ in various sectors like health,cement,construction and so on.JP Morgan does not have a crystal ball so these investments and with more to come form the bank are probably a result of a detailed analysis of the Indian economy.
The U.S major is spreading its wings from banking to investment banking, corporate finance and capital market business in India.what is more.with more investment going to come about,JP Morgan is slowly but surely turning into a player who is betting on a sure thing.the recent world bank report on India has only made this more obvious to the world at large.but of course the question of economic reforms remains on everyone's mind these days.will the pace of reforms continue?going just by what JP Morgan is planning to do i would say yes!

india,united states,jp morgan,business,investment,economy,