Latest news is JPMorgan Chase & Co. (NYSE:JPM) bought real estate loans from Citibank, Intel Corporation’s (NASDAQ:INTC) receives an industry downgrade, and Exxon Mobil Corporation (NYSE:XOM) springs a leak.
CEO of JPMorgan Chase & Co. (NYSE:JPM), Jamie Dimon, says he regrets taking money from the Troubled Asset Relief Program ($25B) and for using the FDIC’s guarantee program to issue $40 billion in unsecured debt during the height of the financial crisis.
Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co. (NYSE:WFC) have already paid up, returning more than $180 billion in bailout funds. Former Treasury Secretary Henry Paulson is on mission to get the U.S. government repaid in full for the funds it put into the country’s lenders.
Bad news for Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM), they are going to feel the pain to the tune of billions of dollars thanks to the delinquent loans of Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM).
President Obama's plan is not going over well with Wall Street, the selling is just getting started with JP Morgan (NYSE:JPM), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) all falling close to 5%.