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JPMorgan Chase Reports Better-Than-Expected Profits

Friday, January 14, 2011 - 7:21 AM
From the New York Times:
The bank earned $4.8 billion in the final three months of 2010, or $1.12 a share, which significantly beat expectations.
[...]
The bank’s strong profits, in part, reflect the better consumer lending environment. Retail financial services, which includes everything from mortgages to credit cards to checking accounts, reported income of $708 million, compared with a loss of $399 the prior year.

As I mentioned yesterday, we will likely see more massive profits from the mega banks this year.
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Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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