Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>

B of A, JPMorgan, others raise $19 billion

Financial Law     updated  2009/06/02 08:58


Bank of America Corp, JPMorgan Chase & Co and several other banks said they have raised more than $19 billion as lenders scramble to extricate themselves from Washington's grip.

Banks are raising capital as investor sentiment for the sector improves and, in many cases, to show regulators they are capable of functioning without government support.

"Markets are providing an avenue for banks of all sizes and stripes to raise money unless you are at death's door," said Gary Townsend, co-founder of Hill-Townsend Capital in Chevy Chase, Maryland. "The market also seems to be making an assessment that credit problems are manageable and that the environment is improving. In my view, that is correct."

JPMorgan sold $5 billion of stock, Morgan Stanley $2.2 billion and American Express Co $500 million after the Federal Reserve on Monday imposed capital-raising requirements on large banks hoping to repay bailout funds.

Goldman Sachs Group Inc, which also hopes to exit the Treasury Department's Troubled Asset Relief Program, sold $1.9 billion of its stake in Industrial and Commercial Bank of China.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com