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| Subject: Chase Manhattan Chase is the consumer and commercial banking division of JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955.[3] The bank is headquartered in Chicago. (Wikipedia Jan 2010) State finance: By John Schroy, on July 6th, 2009 |  One comment  On July 2, 2009, the Federal Reserve announced that it was aware that the State of California was issuing its own currency to pay its bills. This, of course, is consistent with the lack of fiscal discipline which is the hall mark of far left Californian politicians, of which Nancy Pelosi is a prime example. California has experience with nut-case economics, having been the home of the famous Emperor Norton who issued his own currency to pay his bills in the mid-19th century. July 6th, 2009 | Print Article |  Email Article |  Topics: Bank of America, Barbara Boxer, California, Chase Manhattan, FDIC, Henry Waxman, legal tender, money, Nancy Pelosi, Wells Fargo | Category: Financial Market Regulator | One comment |  Short urlThe McKinsey Heresy By John Schroy, on April 6th, 2009 | 2 comments  The root problem with big banks today is organizational and product line complexity. Excessive complexity in banks can be traced to the reorganization of Citibank in 1956, under Walter Wriston, following the advice of McKinsey and Company. Under the McKinsey structure, banks were transformed into industrial-type marketing institutions with matrix organization by product line. Bank managers were paid to meet budgetary targets, rather than for being prudent bankers. April 6th, 2009 | Print Article | Email Article | Topics: Alfred P. Sloan, Bank of America, Charles Wilson, Chase Manhattan, Citibank, complexity, General Motors, Glass-Steagall Act, matrix organization, McKinsey, nationalization, Peter Drucker, Sandy Weill, systemic risk, Walter Wriston | Category: Financial Market Regulator, featured | 2 comments | Short urlFeatured articles on inside pages
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