JPMorgan Profits Jump 23% as Loss Reserves Fall

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Jab999

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JPMorgan Profits Jump 23% as Loss Reserves Fall

posted on Oct 13, 2010 01:57PM

Where is the $1 BN, third quarter mark to market loss on their gold and silver short position buried?

"If JPMorgan Chase's third-quarter earnings on Wednesday are any indication, bank profits are going to look mixed at best.

Yes, it announced a $4.4 billion, $1.01-a-share profit for the quarter, jumping over the same time last year and beating analyst estimates of 90 cents a share. But the gains came from a 67 percent reduction in loan-loss reserves."

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