The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (37091)	4/13/2011 8:48:20 AM
From: carranza2	Read Replies (3) of 71427

JPM revenue dropped. From B'berg: "Provisions for credit losses dropped 83 percent to $1.17 billion as defaults and late payments declined. JPMorgan, led by Chief Executive Officer Jamie Dimon, posted a record $17.4 billion in earnings last year, in part by releasing about $7 billion of reserves against bad loans back into income as the U.S. economy improved. Dimon, 55, has said he doesn’t consider reserve releases as “quality” earnings because they don’t represent growth in the bank’s businesses." The accounting maneuver - switching 7 billion in reserves to an income account - seems to have done wonders as the top line headlines are that earnings increased 67%. First-quarter revenue fell 8 percent to $25.8 billion. Fixed-income and equity markets revenue was $6.6 billion, compared with $6.9 billion a year earlier and $4 billion in the fourth quarter.

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