Eugene David
...The One-Minute Pundit

Friday, January 15, 2010


JPMorgan Chase & Co reported deep losses on mortgage and credit card loans in the fourth quarter, dashing hopes that consumer credit is on the mend and sending the bank's shares down 2.1 percent.

Quarterly profit soared to $3.3 billion, topping Wall Street expectations, but analysts had been hoping for signs that the bank's credit costs were leveling off or even starting to fall.

In a conference call with investors, Chief Executive Jamie Dimon said, "We don't know when the recovery is."


A God doesn't know when the recovery is?!?

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