Original Article on Cityfile

JPMorgan Chase, American Express and Morgan Stanley all announced plans to raise fresh capital today, so they're prepared to repay the taxpayer money they've received as soon as Washington gives them the go-ahead. [WSJ, BN] Related: The Federal Reserve says next week it will announce an initial set of banks that have been approved to exit the bailout program. [NYT] Citigroup has stopped paying out massive severance payouts to a handful of execs who recently left the company. Is it legal? Not really, but they're betting that it would be too embarrassing for them to file lawsuits against the struggling, taxpayer-backed company seeking the money. [WSJ] Ex-Bear Stearns chief Alan Schwartz is joining Guggenheim Partners. [WSJ] After a good day ...(read more)