Memo to JPMorgan Chase & Co.: Your dividend needs to go.
For all the complaints that U.S. banks aren’t lending enough money, the bigger problem may be they’re giving too much away. Here we are amid the greatest banking crisis in 80 years, and some of the biggest, purportedly shrewdest banks keep acting as though they can spend their way into solvency by plying shareholders with outsized quarterly checks.
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