Chase has recently become one of the top few banks, but before the recession there was a lot it went through in order to rise to its name. Before the recession it was one of the largest most strongest banks in the US.
JP Morgan and Chase was a couple of branches before it was officially named "CHASE". It was founded by John Thompson, Salomn P. Chase and many others. It was a slow fast growing company that bought Bank One and many others to officially buying even Washington Mutual and becoming Chase headquartered in Manhattan, NY. It is currently CEO'd by Jamie Dimon in his third term as being the CEO of Chase. He has seen a lot from the company from going to its negatives and positives.
Before the recession on 2008, stocks were at .47 cents each, and after they are now worth 47.15 and counting.
So instead of actually tanking after the recession it boomed, its stocks went up HIGH in price which is very interesting.
http://upload.wikimedia.org/wikipedia/commons/5/55/Chase_al.jpg This is post the recession, and after, its assets and liabilities in millions!
The company received more than 20 billion in TARP funds and at the end of 2009, it actually paid back 25 billion in TARP back to the government, stating "it never needed the bailout money in the first place".
The bank actually was involved in sub-prime mortgage lending during the recession and didn't admit to it, until of June 2010 it came out and stated that it had cheated Military Families and many of millions in dollars over losses and repaid more than 2,000,000,000 in money back to those who were cheated during the recession of 2008.
Before the recession CHASE reported its revenues to be 26.3 Billion dollars, and today it stands at 33.4 Billion dollars just recently!
I think every major corporation is related to the financial crisis occurring and that has occurred . They all lied and tried to cheat people in the system to make sure they got their share of money! James Dimon CEO actually got 17 Billion in Stock Bonuses, not cash after the recession while some were starving.
Seems like a crazy, un fair world to me. How can these CEO's cause such an issue, and recieve bonuses for them? Just does not make sense!
I agree with the question you bought up in the end about how CEO's are giving themselves bonuses. We all know, but we are not doing anything, because these people are very powerful, and they've got the law in their hand.
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