JP Morgan Chase's mysterious plan to raise $6 billion

People are talking about JP Morgan Chase's plans to raise $7 billion in perpetual preferred stock. Can't blame the bank for wanting to raise capital. The issue, as Housingwire notes, is that the bank's CEO Jamie Dimon recently told analysts that, in his mind, the worst was over. However, on a conference call after JP Morgan Chase's first-quarter earnings were announced, the CEO failed to raise the issue. After Bloomberg reported the news, the view that the capital raising was being done on the QT started circulating. It seems like this would have been announced, or at least discussed, by Dimon or others. The question for JP Morgan was whether the glass was half full or half empty. More may be inclined to go with the latter at this point.  

For more:
- here's the Housingwire article

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