JPMorgan Quietly Raising $6 Billion

The hush-hush plans to raise capital at the Wall Street bank would seem to contrast sharply against remarks made by JPMorgan CEO Jamie Dimon earlier Wednesday, who had said that the credit mess was “working itself out.” No mention was made on the earnings call about raising $6 billion, and a source that spoke with HW reacted to the news with stunned silence upon hearing of the plan.

...

“It just takes all of the steam out of things,” said the same source. “I mean, most of us had taken the earnings report as a half-good thing, after all, with Dimon’s remarks. Now what are we supposed to think?”