New York Times (08/26/08) P. C2
A 50-percent drop in the value of its investments in Fannie Mae and Freddie Mac preferred shares to $600 million in the third quarter could prompt JPMorgan Chase & Co. to record a decline in earnings, having already announced another $1.5 billion in subprime mortgage-related write downs. Observers anticipate similar announcements from other large and regional banks, including Wells Fargo and Sovereign Bancorp. While it calls into question banks' risk management strategies, Stanford Group financial services analyst Jaret Seiberg says this will not be "a crippling blow" for most banks.
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