Thursday, July 16, 2009
ERIC DASH, New York Times
ERIC DASH, New York Times
JPMorgan’s Profit Soars Despite Economic Downturn
NEW YORK — Even as it weathers the worst economic downturn in decades, JPMorgan Chase on Thursday announced a $2.7 billion second-quarter profit from stellar trading and investment banking results.
The strong showing may put to rest some worries that the bank was allowed to pay back its $25 billion taxpayer investment too early, after it passed the U.S. government’s stress test in May. But along with Goldman Sachs, its quick resurgence is bound to raise fresh concerns about soaring pay levels and growing clout in Washington.
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Posted by Editor on 07/16/09 at 07:01 AM •
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