Reuters Right Now: JP Morgan rocks, Jamie gets a break
Thursday, October 11, 2012 - 01:16
Oct. 12 - JPMorgan Chase posted record quarterly profits on Friday, providing relief to a beleagured Jamie Dimon, whose reputation had been dented with the whale trade losses, federal probes, and lawsuits.
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Well what -- -- I JPMorgan C Jamie Dimon has played at least not around after this quarter's earnings they've posted Iraq record earnings five point seven. Billion dollars in this is after all of this kind of uproar about the trading losses in the synthetic portfolio earlier this year. This in these these kind of numbers kind of I think solidly put the whale behind mr. Knight and -- -- focusing. Back on what he does you know backs which is basically as an advocate of high return to being advocate for the banking industry here to talk and on call with journalists about you know things that need to be done to get things moving in terms of the mortgage market. Reforms that need to happen so I think if I get to see a little bit more about that in -- -- or earnings again solid and it's pretty much across the board. We saw -- obviously benefited from low interest rates and the housing market. Mortgage origination was a record in the quarter and that's probably gonna continue for several more quarters they can count on -- And as long as you know QE3 and markets continue to kind of function as they have been. The -- do well in the investment banking side as well so yeah overall against solid quarter for JPMorgan but also I think a win for our see it.
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