Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation. The size of the JPMorgan settlement, which the government […]
Tag: Goldman Sachs
Goldman Sachs fourth-quarter profit hit by lower bond trading revenue
Goldman Sachs Group Inc reported a 21 percent drop in quarterly profit on Thursday as revenue from fixed-income trading fell in what Chief Executive Lloyd C. Blankfein described as “a somewhat challenging environment.” The bank’s bond trading revenue slid 11 percent, adjusted for an accounting charge, and was greater than […]
Banks face new probe over mortgage bond trades post 2008: WSJ
Federal regulators are probing whether several big banks deliberately mispriced mortgage bonds in the years following the financial crisis, the Wall Street Journal reported, citing people close to the inquiry. The new investigation is a potential blow to the banks as they have already paid billions of dollars in penalties […]
