California Gov. Jerry Brown recently informed Californians that the state was $16 billion in the hole, instead of the mere $9 billion everyone expected. The Facebook IPO will generate a lot of taxable income for a few thousand Californians.
As Facebook plans to go public next week, this week individual investors are buying E*Trade accounts because of the rumors they may be able to get in early on the public shares of Facebook stock. How easy is that?
In Tampa, Fla. today, there's a JPMorgan Chase shareholder meeting going on. Not a great time for CEO Jamie Dimon to face shareholders, given the $2 billion trading loss he announced last week.
New York bureau chief Heidi Moore discusses why JPMorgan's loss is a warning that suggests risky practices are taking place at other Wall Street banks.
