Friday, October 11, 2013

JP Morgan Posts Loss Ahead Of Expected Fines


JP Morgan Chase reported something unusual today: a loss. The bank has been forced to set aside a huge cash reserve to cover expected fines and related legal costs. In the most recent quarter, the set-aside was so large — $9.1 billion — that it produced a net loss for the bank.


Source: http://www.npr.org/templates/story/story.php?storyId=232238881&ft=1&f=1006
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