Friday, May 8, 2009

JPMorgan, Goldman Sachs to Gain as Rivals Seek Funds...

...headlines Bloomberg.

Imagine my surprise.

Somehow Goldman was "lucky" enough to raise funds last month.

And, JPMorganChase swallows Bear Stearns and Washington Mutual and doesn't need to raise any capital. Hmmm, what did JPMorganChase sell off of Bear Stearns and Washington Mutual, at what price and when?

Sounds to me like the Bear Stearns and Washington Mutual deals strengthened JPMorganChase.

Bloomberg goes on:

JPMorgan Chase & Co. and Goldman Sachs Group Inc., banks that passed government stress tests without needing fresh capital, may win more backing from customers and shareholders as competitors such as Bank of America Corp. and Citigroup Inc. raise funds by giving up assets or equity.

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