Tag Archive for Earnings

Bank of America Withheld Loss Figures Ahead of Merrill Vote – NYTimes.com

Days before Bank of America shareholders approved the bank’s $50 billion purchase of Merrill Lynch in December 2008, top bank executives were advised that losses at the investment firm would most likely hammer the combined companies’ earnings in the years to come. But shareholders were not told about the looming losses… leaving them instead to…

Analysis: JPMorgan dips into cookie jar to offset London Whale losses | Reuters

JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank’s now-infamous “London Whale,” compounding the cost of those trades…. The sales of profitable securities from elsewhere in the bank’s investment portfolio will increase its costs by triggering…