US: J.P. Morgan-Chase reports 36% surge in profits after massive taxpayer bailout!

peaceandlove · 07-19-2009, 03:17 AM

SOURCE: G. Edward Griffin's site: http://www.realityzone.com/currentperiod.html

US: J.P. Morgan-Chase reports 36% surge in profits after counting it's massive taxpayer bailout. It's easy to show a profit when you have access to stolen funds. Washington Post 2009 July 16 (Cached)

JP Morgan profit surges on investment banking gains

By IEVA M. AUGSTUMS
The Associated Press
Thursday, July 16, 2009; 4:53 PM

CHARLOTTE, N.C. -- The banking industry has another winner.

JP Morgan Chase & Co. reported a 36 percent jump in second quarter profits Thursday, easily surpassing analysts' forecasts as huge gains in its investment banking business outweighed higher losses from bad loans.

The results came two days after rival Goldman Sachs Group Inc. also posted surprisingly good results, solidifying the companies' position as the strongest players in the industry. Many other banks are still struggling to emerge from the worst of a credit crisis that peaked last fall as well as a recession that has sent loan defaults higher.

Continues: http://www.washingtonpost.com/wp-dyn...071601014.html

07-19-2009, 03:17 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	US: J.P. Morgan-Chase reports 36% surge in profits after massive taxpayer bailout! SOURCE: G. Edward Griffin's site: http://www.realityzone.com/currentperiod.html US: J.P. Morgan-Chase reports 36% surge in profits after counting it's massive taxpayer bailout. It's easy to show a profit when you have access to stolen funds. Washington Post 2009 July 16 (Cached) JP Morgan profit surges on investment banking gains By IEVA M. AUGSTUMS The Associated Press Thursday, July 16, 2009; 4:53 PM CHARLOTTE, N.C. -- The banking industry has another winner. JP Morgan Chase & Co. reported a 36 percent jump in second quarter profits Thursday, easily surpassing analysts' forecasts as huge gains in its investment banking business outweighed higher losses from bad loans. The results came two days after rival Goldman Sachs Group Inc. also posted surprisingly good results, solidifying the companies' position as the strongest players in the industry. Many other banks are still struggling to emerge from the worst of a credit crisis that peaked last fall as well as a recession that has sent loan defaults higher. Continues: http://www.washingtonpost.com/wp-dyn...071601014.html Last edited by peaceandlove; 08-20-2009 at 08:43 AM.