JPMorgan

JPMorgan Scores Big

 This article focuses on JPMorgan’s rebound since the big bailout plan was executed.  JPMorgan is company that deals with financial investments and lending, who at one time was getting ready to file for bankruptcy.  The bank’s quarterly profits hit all time highs since two years ago when everything fell out of the sky.  JPMorgan states that their profits were driven by a strong performance in its banking investment division.  While the banking investment division is doing so great, large losses continue to climb in the consumer related part of the business.  $3.6 billion was its earnings in the third quarter, but it was projected to be only $2.03 billion.  JPMorgan wants to insure the public that their earnings come from the business, and not from government funding.  

 Yeah I think it is great that JPMorgan has record highs in this last quarter, but I also have doubts.  If it was not for the government funding, this company would be sitting in a world of trouble right now.  They need to credit the government and not relate their earnings strictly to their own doings.  I think this is wrong and unethical because they are lying to the public.