In early 2004, JP Morgan Chase and Bank One announced plans to create the second largest banking organization in the country. Before the deal was completed, the primary regulator for the acquiring bank, in this case the Federal Reserve, along with state banking agencies and the Department of...

For the past several years, the news media have carried countless stories about soaring defaults among subprime mortgage borrowers. Although concern over this segment of the mortgage market is certainly justified, subprime mortgages only account for about onequarter of the total outstanding...