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Non-Tech : Banks--- Betting on the recovery
WFC 85.05+0.4%Nov 14 9:30 AM EST
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To: Road Walker who wrote (311)3/27/2009 6:29:23 PM
From: tejek   of 1428
 
J.P. Morgan doesn't need to raise equity, Dimon tells CNBC

By Alistair Barr
SAN FRANCISCO (MarketWatch)

J.P. Morgan Chase & Co. doesn't need to raise equity capital, Chief Executive Jamie Dimon told CNBC Friday. Dimon also said March has been "a little tougher" than January and February. Dimon was speaking after a meeting between President Barack Obama and CEOs of the nation's largest banks. Dimon said J.P. Morgan is looking for guidance from the Treasury Department about when to repay money the bank got last year from the Troubled Asset Relief Program. He also noted that Wall Street compensation practices "went too far" and that banks made a lot of mistakes in this area.

marketwatch.com
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