Good news! Good news! Giant banks post record profits !!

[eppur_se_muova]

JP Morgan has recorded a profit of $6.5bn (£4.3bn) for the second quarter of 2013, up 31% from a year ago.

JP Morgan's steep rise in profits was flattered by the heavy losses controversially incurred by the US banking giant's chief investment office last year.

Dubbed the "London whale", trader Bruno Iksil ran up $6.2bn in losses in total.

Separately, Wells Fargo reported a 20% rise in quarterly profits to $5.27bn as it set aside less money for bad loans.
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more: http://www.bbc.co.uk/news/business-23286901




Nice to know all that money will be put to good use.

[Rex]

1. Crime pays if you are a bankster.

Got the govt in your pocket and your favorite lobby group on speed dial! Meanwhile, man robs bank to go to jail instead of ending up homeless.

This country is FUCKED.

[msongs]

2. great news, let's give more wall streeters jobs in the government so they can game the system better

[HiPointDem]

3. isn't that great? we die to make them free.