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Jpmorgan Q1 Profit Up 67 Percent; Can It Be Repeated?

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http://uk.reuters.com/article/2011/04/13/uk-jpmorgan-idUKTRE73C2AK20110413

JPMorgan Chase & Co (JPM.N) reported tepid corporate loan growth in the first quarter, raising questions about the banking industry's ability to boost profit in coming years.

First-quarter earnings rose by two-thirds, but that increase came mainly from a drastic cut in the amount of money set aside for bad loans, a move that could be difficult to repeat over the long term.

The bank's book of consumer loans shrank 10 percent in the quarter, and loans to corporate customers did not increase enough to make up for that. The No. 2 U.S. bank also took $1.75 billion (1.07 billion pounds) of charges linked to collecting payments on bad mortgages and foreclosures, and said an upcoming settlement with regulators over mortgage servicing abuses could force it to hire as many 3,000 people.

So huge bonuses to be paid out on this and if the loan book turns back the bank won't have the money to cover the losses meaning the US taxpayer will get to foot the bill.

Banking is a great industry to be in.

Every trick in the book is being used to boost earnings, buy JP Morgan shares you can't go wrong.

Viva recovery!

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Is it possible for any industry to have such massive swings in profitability as banks (and i use industry in the loosest sense). Oh no, we've lost 4 billion. don't worry - this year we've made 8 billion!, oh bugger, we've lost 2 billion, hang on ! we've moved some figures around and now we've made 16 billion!

I'll answer that one.

No.

Why?

Because banking is one ******ing massive fraudulent lie & full of bad, bad thiefs liars and fraudsters who can't help themselves because of their proximity to their 'product' and weak governments.

Edited by Reck B

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Because banking is one ******ing massive fraudulent lie & full of bad, bad thiefs liars and fraudsters who can't help themselves because of their proximity to their 'product' and weak governments.

The gangsters realised there was more money in it than drugs and gambling

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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