Friday, February 27, 2009

Chase: It's Worse

I thought I saw an item wherein Jamie Dimon said he wanted to repay the TARP stuff soon.

Well, maybe.

...[Chase] bank anticipates quarterly losses this year of $1 billion to $1.4 billion just on its home equity loans to more credit-worthy borrowers. Those figures exclude loans Chase picked up in its purchase last September of the failed banking operations of Washington Mutual

So "good paper" is going "bad" at $1+Bn/quarter at Chase, alone...

Source: Milwaukee BizJournal

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