JP Morgan’s mortgage warning
By Geert De Lombaerde Posted on October 15, 2009 at 7:54 amDespite posting a third-quarter profit of $3.6 billion — more than six times the year-ago number — JP Morgan Chase says its loan losses are still rising and affecting even mortgages that were thought to be of high quality. Keep in mind that just about everyone in the know agrees that JPM is the cream of the crop.
Tags: banking, earnings reports, JP Morgan Chase & Co., loan losses, mortgages
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