Ask Jamie Dimon if crime pays. MF Global, PFG Best, AIG and the Whale prove that it does if you are JP Morgan Chase & Co.
David DeGerolamo
Nodes of term Jamie Dimon
- “I Print Therefore I Am” – The Fed Justifies Its Existence, Fails
- “Who Is Jamie Dimon?”
- A 33% Minimum Probability Of Criminal Charges Against JP Morgan In Lieborgate?
- A Blueprint to Kill JP Morgan’s Alleged Massive Manipulative Position in the Silver Futures Market
- A Defense of the Morg
- A few more questions on JP Morgan and the London Whale
- A Granular Look At Primary Dealers’ Holdings Of Treasuries; Visualizing The Curve Trade
- A Rare Glimpse Into The Fed’s Discount Window Courtesy Of The Brewing Lehman-Barclays Scandal
- A Single Trader, JP Morgan, Holds 90% Of LME Copper
- A Step by Step Guide to Exactly How Much Derivatives Risk Each of the 5 Big Banks Actually Have, and How It Could All Go Boom!
- Additional Perspectives On The AIG Fiasco
JPMorgan profit up 34 percent with mortgage surge
JPMorgan Chase & Co said third-quarterearnings jumped 34 percent as the largest U.S. bank made more home loans.
Net income was a record $5.71 billion, or $1.40 a share, up from $4.26 billion, or $1.02 a share, a year earlier, the bank reported on Friday. Results for both periods included special items.
The company said it recorded a “modest loss” in the quarter on its so-called “London whale” derivatives portfolio, which had lost $5.8 billion this year through June. It said its Treasury and Chief Investment Office division, which formerly held all of the portfolio, may lose about $300 million more in the fourth quarter.
Revenue from mortgage production was $1.8 billion, up 36 percent from a year earlier, excluding losses for buying back bad mortgage loans sold in the past to investors.
U.S. banks have been enjoying a surge in demand from homeowners to refinance mortgage loans at lower interest rates.
